TV executive Dick Ebersol and his son Charlie appear to be the main investors, along with longtime National Football League exec Bill Polian.
The new league will beat the XFL to the punch with Vince McMahon's new venture set to relaunch in 2020.
In further support of the league, television network CBS are to air the games in their line-up throughout the season.
Whenever you have an endeavor that involves the kind of teamwork football involves, it implies a partnership, the need to get their buy-in and do things, particularly in a startup, that represent their best interest ... to make sure players know we have their best interests at heart.
The goal is for sub-2 1⁄2-hour games, with 60 percent fewer commercials, no TV timeouts and a 30-second play clock.
"Fifty-nine million people play fantasy and 20 million people play only fantasy football", Ebersol told ESPN of his plans.
The league will begin announcing the cities, stadiums and coaches of the teams in April, with rosters largely made up of players cut from the NFL.
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Fantasy Football will be an essential component of the AAF's marketing strategy. "Every Alliance contract is going to carry with it an "out" for any player who has an opportunity at any time to go to the NFL".
"We firmly believe the next Kurt Warner and Adam Vinatieri is out there", Polian said. It's pretty hard to beat that level of experience just from how many combined seasons those men have played in the NFL. There will be no kickoffs and innovations around onsides kicks in which teams can go for a fourth-and-1o from the 35-yard line to retain possession. But apparently, Dick is not involved in the XFL reboot because wait for it...he's on the board of directors for the Alliance.
Funding for the new league is built around a seven- to 10-year business model, Ebersol said, with Founders Fund and Chernin Group being the two main investors. As a result, the Alliance will get a one-year head start (at least) on the XFL in the race to compete with the NFL.
Even in the most optimistic scenario, one of these two leagues will fold very quickly if a merger doesn't happen. Rosters will be culled from National Football League cuts to the 53-man maximum after preseason, which Polian calls "the core of our constituency"; collegians who have gone undrafted, including underclassmen who have lost any remaining eligibility; players looking to return to the sport; and free agents from the CFL or elsewhere. This time, it's the Alliance of American Football, and it's coming after the XFL.
The younger Ebersol, who directed ESPN's "30 for 30" documentary on the XFL, brought in former NFL general manager Bill Polian to help oversee the league. The Alliance of American Football will not use kickoffs.
Ourand also notes that players will receive bonuses for wins, stats and fan engagement. "This is a marketplace of tens of millions of Americans who have been telling us for decades that they want to see high-quality football longer than the football season". Nickname it "The Alliance", call it "The AAF" or whatever, but we gotta do something about that.