When the AAF started up, many football fans were excited to get more action through the year but financial problems crept up quickly. Luckily, Tom Dundon’s net worth helped to save the fledgling league this past week.
With the AAF rumored to not have the money to pay players after just one week of the season, Dundon came to the rescue.
Tom Dundon net worth: How much money does he have?
Tom Dundon’s net worth is reported to be an impressive $1.1 billion. However, after his move this week, he is worth $250 million less — because that is how much he paid to rescue the Alliance of American Football.
His donation followed the reports that after just one week of play, the AAF didn’t have the money to pay their employees. This may seem unfathomable to many since the league has TV deals with CBS Sports, Turne Sports and the NFL Network.
However, that obviously didn’t provide enough money and now Tom Dundon has basically bought the AAF since his $250 million makes him the majority owner of the league.
“That’s enough money to run this league for a long time,” Dundon told 99.9 The Fan in Raleigh (via Yahoo Sports). “We’re good for many years to come with what I just did.”
— ProFootballTalk (@ProFootballTalk) February 19, 2019
How did Tom Dundon make his fortune?
Tom Dundon started off operating a restaurant in Fort Worth, Texas before he joined with partners to create an automobile financing firm called Drive Financial Services, LP.
By the time he left that company in 2015, he had served as the chairman and CEO of the company, now known as Santander Consumer USA, and he used the money he made to create his own company called Dundon Capital Partners.
Dundon nicknamed himself “the bank” — which explains why he made the comment that his money was still in “the bank” after making his commitment to the AAF.
“He’s very competitive, whether in sports or business,” his close friend and golfing partner Jonas Woods told the Dallas Morning News. “Probably in anything, for that matter. He doesn’t like to lose.”
Other than his capital funds business, Dundon also bought the Carolina Hurricanes of the National Hockey League in 2017 for $420 million.