MLFB missed the boat, and the boat ins sinking

XFL Football discussion.
herns
Head Coach
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Re: MLFB missed the boat, and the boat ins sinking

Post by herns »

Tank55 wrote: Tue Aug 02, 2022 7:10 pm Even by alt football league standards, MLFB is achieving some spectacular levels of disaster.

They may be the worst alt football league we’ve seen
MGB01
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Re: MLFB missed the boat, and the boat ins sinking

Post by MGB01 »

Maybe they're securing more financial data so can they can relaunch the site (again) with all of it restored. Hey that was actually looking like a league (yeah yeah little to no bar) compared to now.

Hell, this looked more professional than the crap they just laid out:

https://web.archive.org/web/20160930083 ... media.com/
nick1091
Running Back
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Joined: Mon Jul 01, 2019 9:16 pm

Re: MLFB missed the boat, and the boat ins sinking

Post by nick1091 »

Reading their 10-K it's amazing they even got to this point.

At the end of April their disclosure was they had far more debts than they could repay. They had hundreds of thousands of tax debts, pending lawsuits, outstanding invoices. Murtha as CEO also hired himself as a contractor (I bet he was the one vendor that got paid) for an additional hundred grand a year. Thankfully it looks like some of that compensation was in stock grants and options which are now totally worthless.

Either Murtha is the most optimistic Pollyana esque figure in the world, or he went on with this charade long after it was foreseeable this wasn't a business so he could draw out all the cash he could before they had to liquidate, at the expense of players, coaches, and staff who just had a dream of playing football. My money on the latter.
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MarkNelson
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Re: MLFB missed the boat, and the boat ins sinking

Post by MarkNelson »

I don’t have much to say about this train wreck other that I feel for the players and staff who just had their bank accounts raided. Bills and rent will go unpaid.

Will this lead to the end of this ongoing “scam” and put a stop to a future of more like this? I have my doubts.
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