According to a report from Darren Rovell and Action Network, the Alliance of American Football will suspend all football operations today.
Rovell's report says new owner Tom Dundon will lose approximately $70 million on his investment. Dundon makes decision against wishes of league co-founders Charlie Ebersol and Bill Polian.
Dundon bought a majority stake in the league in mid-February, with the league announcing his commitment of $250 million.
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Ebersol and Polian wanted the league top develop for three years before trying to make it a feeder system into the NFL.