We don’t know this for sure, but it sure looks like the UFL is a mess financially.
The latest clue came today when it was revealed that Dallas Mavericks owner Mark Cuban, who loaned $5 million to the league, has filed a lawsuit against the UFL for not reimbursing him. Cuban loaned the money to UFL co-owner William Hambrecht and “his revocable trust” on April 7th with the understanding that he’d get his money back by October 6th. The due date was pushed back to December 1st, but more than a month later Cuban still hasn’t seen his money.
The news comes a day after it was announced that the Florida Tuskers, one of five UFL teams in 2010, will move to Virginia amidst reports of financial struggles.
Making matters worse is that as far as we know, the players still haven’t received their final paychecks for the 2010 season.
If the UFL is able to hang on just a bit longer, it might be in a position to make some money this fall if the NFL season doesn’t start on time. But the league’s chances of survival seem grimmer by the day.
It looks like the UFL is about to join the ranks of the XFL, NFL Europe, and USFL, in an endless line of failed competitors to the National Football League.
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