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Steve Spurrier gives us another look inside the AAF and how the money is being raised and how things are being bought and sold

From Pro Football Talk:

“I think what happened is an original investor sort of led us into believing he could come up with the money to get us through the first year, and then he sort of bailed out,” Spurrier told Mike Bianchi of the Orlando Sentinel. “He didn’t have [the money], and we found Tom Dundon. I think [Dundon] liked the idea so much, he became the majority owner [of the league] and now we’re all set to go for quite a while.”

Without using many words, Spurrier said plenty. First, a major investor backed out. Second, the AAF was at that point screwed. Third, Dundon rode in with a quarter billion dollars and bought a controlling interest in the league. Although AAF CEO and co-founder Charlie Ebersol declined to comment earlier this week on the percent of equity purchased by Dundon, Spurrier’s comments make it clear that Dundon owns at least 50.1 percent.

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