Washington (AFP) – Tom Dundon, owner of the National Hockey League’s Carolina Hurricanes, said Tuesday he has spent $250 million to become chairman of the upstart Alliance of American Football.
The eight-team NFL talent development league, which has played two weeks of its inaugural campaign, was in danger of not being able to meet payroll by Friday, according to sports website The Athletic.
“Since the beginning, it has been crucial that the foundation of the Alliance be set with world-class partners and Tom Dundon represents just that,” AAF co-founder and chief executive Charlie Ebersol said.
Dundon, 47, bought 52 percent of the Hurricanes last year for $420 million. He is majority owner of a healthcare firm, main investor of sports entertainment firm Topgolf and co-founder of Trinity Forest Golf Club in Dallas, which hosts the US PGA Tour’s Byron Nelson tournament.
“As a lifelong sports fan and entrepreneur, I’ve always valued the opportunities generated in the ecosystem of sports and entertainment,” Dundon said. “I’m impressed with The Alliance’s stunning growth in-stadium and across TV, mobile and social media in just these first few weeks.”
Hurricanes president Don Waddell said Dundon remains committed to the Hurricanes, who with 31 wins from 59 matches trail Pittsburgh by one point for the eighth and final playoff spot in the Eastern Conference.
“This was a terrific opportunity for Tom to expand his investment in the sports world,” Waddell said. “Tom is excited about the direction of the Carolina Hurricanes and remains fully committed to this franchise’s current and future success in Raleigh.”
The AAF clubs include the Arizona Hotshots, San Diego Fleet, Salt Lake Stallions, San Antonio Commanders, Atlanta Legends, Memphis Express, Orlando Apollos and Birmingham Iron.
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