Dallas Billionaire Tom Dundon Wants a $70 Million Refund for Investment in Alliance of American Football

Dallas billionaire Tom Dundon said in a court filing Monday that he was misled by the now-defunct Alliance of American Football and should get his $70 million investment back. Dundon, who owns the Carolina Hurricanes, became majority owner of the league in February and committed to pumping $250 million into the AAF. Less than two months later, the league shut down.In the filing, Dundon said AAF did not come clean about the extent of its financial challenges."The AAF, prior to DCP's [Dundon Capital Partner's] involvement, had a pattern of willful omission of material facts, in particular regarding its prospects, obligations and opportunities," the filing says. "The AAF did not appropriately disclose material facts to DCP prior to capital commitment."  Continue reading...