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Alliance of American Football files for bankruptcy

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The Alliance of American Football filed for Chapter 7 bankruptcy after the closure of the professional league.

AAF claimed assets of $11.3 million against liabilities of $48.3 million. The company will sell off its assets as part of the bankruptcy proceedings.

Among secured creditors are MGM Resorts International, Aramark Sports and Silicon Valley Bank.

Read more from Sports Illustrated.

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