We have heard that the Alliance of American Football was in bad shape, but today it seems that those rumors are coming to fruition. It seems that the same man that seemly saved the league mid-season, Tom Dundon, has made the call to pull the plug on the league. Dundon lost $70 million in the few weeks that he was control of the league.

Last week Dundon hinted that this news was coming when he told USA Today that if they could not secure a partnership with the NFLPA then it would not be financially feasible to keep the league afloat. It is now being reported that an annoucement is coming in the coming hours that the AAF is suspending all football operations, much to the chagrine of co-founders Charlie Ebersol and Bill Polian. The league has not folded, yet, but clearly without capitol there really is no other choice for Ebersol and Co.

PFT is reporting that the AAF needed roughly $20 million to get to the end of its first season. Instead, the season will end with two weeks left in the regular season, and with a four-team postseason that never comes to fruition.

Per ESPN, an official announcement is coming at 5pm EST.