The story goes that Tom Dundon bought into the AAF and then treated it like any corporate raider would. He saw that certain parts of the business were good investments and certain parts of the business were bad investments and because he had a controlling ownership stake he gets to keep the good parts and discard the bad parts. Well, according to Twitter’s biggest sports business star, Darren Rovell, that simply isn’t the case.

Apparently, MGM is getting the first right of refusal here because of a clause in their contract that said they would get the technology if the AAF ever disbanded. Well, it’s disbanding now and with all the hype around the technology, it would make sense that MGM would want to keep the AAF’s app and gambling tech to themselves. Theoretically they could sell it off, but with gambling expanding throughout the country, that wouldn’t be a great decision.

I am also not a lawyer and as far as I know, Rovell isn’t one either so Dundon could sue the AAF or MGM if he thinks he has some type of legal right to the intellectual property that is apparently the only thing worth money when it comes to the AAF. I have never known a rich businessman to sit on the sideline when he sees he could make more money and thinks he has a legal right to whatever will make him said money.

For now, according to the report, it looks like all Dundon got was a $70 million write-off. That’s kind of tough to believe.