No AAFL this year...

Well, let me just say that I am really disappointed in this bit of news. I was so hyped up and ready for some AAFL football. Oh gosh, when my son gets home from school and hears about this, he is going to flip out. Watch out for an angry 10-year old! Anyway, just read the sad news below:

Fresh off of the WVLT-8 News Website:

Report: AAFL won't play inaugural season:

KNOXVILLE, Tenn (WVLT) -- The All-American Football League (AAFL) may not play it's inaugural season, according to a Florida newspaper.

The Florida Times-Union, citing a source who requested anonymity, said late Wednesday night that financial issues have saddled some of the teams in the six-team league.

Director of Public Relations for Team Tennessee, Nathan Kirkham, tells volunteertv.com, a conference call is scheduled Thursday evening to discuss the future of the league. Kirkham says he will not be on the call, but the AAFL President and Board of Directors will be....read the rest of this story HERE.

UPDATE: The following has been posted on the official AAFL website:

ALL AMERICAN FOOTBALL LEAGUE® LOOKING FORNEW MAJORITY OWNER TO SALVAGE '08 SEASON

In an attempt to secure kickoff of its inaugural season as well as its long-term future and success, the All American Football League® has begun discussions to explore multiple financing options.

Since inception, the League's finances have been indirectly tied to the $300 billion federally guaranteed student loan asset backed securities market. In August, the sub prime mortgage crisis began spreading into other sectors such as municipal bonds and federally guaranteed student loans. The situation, which was considered to be temporary at the time, has continued to worsen.

Despite the fact that the Federal Reserve has repeatedly lowered interest rates during this financial crisis, their efforts have not yet restored liquidity in many asset backed markets, including municipal bonds and student loans.

The League held its inaugural draft in January, and the team rosters and staffs are all in place. All teams are scheduled to open training camp Wednesday if liquidity can be immediately restored.

Every effort is being made to insure that the '08 season will be played as planned, but this depends upon a locating new majority owner with the needed liquidity, which in turn depends upon the League being able to finalize a TV deal. Otherwise, the inaugural season will be postponed to '09.