Pit-i-ful!
The Association of American
Football (AAF) is now deceased.
In the graveyards of start-up
professional football leagues, the AAF may have set the record for the quickest
demise, as the teams had only played eight games of the ten game regular
season.
Dallas Cowboys’ owner, Jerry
Jones, can now rent his 12,000 seat (that’s right, 12,000 seat) stadium for
another venue now that the AAF’s championship game won’t even be played in
Frisco, Texas this month.
What happened, you ask?
Money, of course!
Even one of my generation’s most beloved television characters, Jethro Bodine (who graduated from the sixth grade at Potts School in Beverly Hills), could have worked out the math for this new professional football league.
Sure, Jethro may have needed both
of his hands to count the proper number of “naughts” of dollars which the new
AAF lost during just two months of play.
For new league to have survived,
Charlotte billionaire, Tom Dundon (the football league’s equivalent to Jed
Clampett who is…correction, WAS…reportedly worth $1.1 billion) would have to
continue losing nearly $10 million per week just to keep the new league afloat.
For his generous $250 million
financial donation to the AAF, Dundon effectively bought his way to becoming
the league’s chairman in week 2.
Just because you are (oops
again, were) a billionaire doesn’t mean that you have all of your money in
cash, either. It’s hard to watch your
fortune heading downward when the league had no realistic chance of making a
profit anytime soon (if ever).
Pardon my pun, but “Dundon was done”.
And here’s why. The chart below (which reflects my best guesses on most items) clearly shows you that a football league which averages 15,000 fans per game at an average net ticket price of $20 was doomed from Day 1:
SwampSwami’s Best Guess EstimatesAssociation of American Football (AAF)Estimated Costs per Team:AnnualStadium Lease (5 home games/yr)$250,000Lease – Team HQ/Practice Facilities$250,000Referees ($2000/game*4/wk*8 wks)$80,000Players (52 @ $83,333/yr)$4,333,316Staff – Coaches$2,000,000Staff – Management$1,000,000Staff – Ticket sales/Mktg.$250,000Staff – Stadium GameDay$50,000Staff – Medical$300,000Uniforms ($1000/player)$52,000Travel – Air$150,000Travel – Hotel$100,000Travel – Ground Transp.$25,000Subtotal – Est. Team Expenses$8,840,316Plus 20% unforeseen costs:$1,768,063Subtotal – Team Expenses:$10,608,379Estimated Expenses – 8 Franchises:$84,867,034Plus – Est. Leaguewide G&A ExpensesStaff – Executives$2,000,000Staff – Office and support$1,000,000Insurance (events, players, staff)$1,000,000Taxes (Fed, State, City)$1,000,000Marketing/Promotional Costs $1,000,000Estimated Expenses – League
G&A:$6,000,000Estimated Expenses – Total:$90,867,034Revenue Summary:Average Weekly Attendance15,000Est. RevenuesPer WeekTicket prices @ $20 each x 4 games/wk$1,200,000Concessions @ $10 each x 4 games/wk$600,000Parking @ $10 each x 4 games/wk$600,000Weekly Game Revenues:$2,400,000Times 8 weeks of play:8Est. AAF Game Revenues:$19,200,000Media – Network Television$2,000,000Media – Local Radio rights$80,000Media Revenues: $2,080,000Franchise Fees – $1 mm/team:$8,000,000Estimated Revenues – Total:$29,280,000AAF Summary:Estimated Net Losses:-$61,587,034Estimated Net Losses per team:-$7,698,379