So bros, remember when I joked about how Major League Football might be in a race with the North American Football League to see which spring football league kicking off in 2016 could last past 2016? Well, just a week after the MLFB held their multi-day draft with little to zero press (seriously bros, I think I’ve written the most articles about the MLFB online), the league has failed to secure a crucial investment stream ahead of their upcoming season.
First reported by the bros over at NFL Draft Diamonds, Major League Football disclosed in their filing to the SEC that the league had not received a $20 million investment by Clairemont Investment Group.
Back in September, MLFB initially had a deal for a $15 million investment from Clairemont Investment Group before they rescinded the deal a month later. A deal was then hatched in late October with Clairemont for a $20 million investment which included revised incentives including the opportunity to own a future MLFB team located in Missouri City, Texas with a closing deadline set for February 1st on the deal.
Currently, Major League Football has been running on registration fees of player try-outs held this past fall and a $147,000 incentive package from Manatee County Commission in Florida that had the league locate its corporate headquarters in Lakewood Ranch, Florida along with the 49 jobs it entailed. The rent for MLFB’s corporate headquarters has also been paid for through the first year by Sarasota and Manatee County tourist tax dollars that, when combined, add up to $35,000.
What does this all mean bros for the upcoming season? Well, let’s just say bros, that unless MLFB budgeted their two-year TV deal with American Sports Network to offset the necessary debts this upcoming season and could function as a league if the $20 million investment fell through, we could be a looking at a very bumpy road this spring that might end prematurely if it starts at all.
At this point in the process bros, it’ll be hard for MLFB to line up another sugar daddy before the start of the season. I mean, MLFB doesn’t have many good assets to begin with. They can’t even consider themselves to be a butterface league. But bros, if MLFB thinks they’ll be able to convince fans to pay an average ticket price of $50 at this rate, then the league is about to receive a lot of swipe lefts.