AFL Has Finalized New Business Model To Allow League To Return
The AFL Thursday announced it has "finalized a 'revitalized business model' that enables the league to return to action," according to Brian VanOchten of the GRAND RAPIDS PRESS. AFL Exec Committee Chair and Columbus Destroyers Owner Jim Renacci: "A plan was finalized last week that allows for the resumption of play in 2010, and we will be sharing the details of that plan with owners over the next two weeks." The AFL is "expected to meet with owners of all 16 franchises to determine which teams intend to be part of a relaunch in March of next year." AFL owners and players "agreed in principle last month on an amended four-year [CBA] that shrinks the salary cap from $2.2[M] to approximately $1.5[M] per team." The AFLPA has "ratified the agreement." Renacci: "The group that developed the new viability plan is set to meet with owners across the league to review it and the amendments to the CBA. We hope to see everything ratified in the next 30 days" (GRAND RAPIDS PRESS, 4/24). Ken Garff Automotive Group COO Brett Hopkins, whose company owns the AFL Utah Blaze, said, "We're still working out some of the details. Everybody has been pulling together on the restructuring of a new plan. We're not quite at the end of the road, but we're very close" (SALT LAKE TRIBUNE, 4/24).
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