They may be the worst alt football league we’ve seen
MLFB missed the boat, and the boat ins sinking
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- Head Coach
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- MVP
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Re: MLFB missed the boat, and the boat ins sinking
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/
Hell, this looked more professional than the crap they just laid out:
https://web.archive.org/web/20160930083 ... media.com/
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- Running Back
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Re: MLFB missed the boat, and the boat ins sinking
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.
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.
- MarkNelson
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Re: MLFB missed the boat, and the boat ins sinking
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.
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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Author: “XFL 2020: Rise and Fall” https://xfl2020book.com
Coming soon: “XFL 2023: Rise”
Favourite Leagues: XFL and CFL | Fan of the Winnipeg Blue Bombers