Capital’s capitalist Peter Thiel backed a new football league that would rival the NFL.
Backed by Thiel’s Founding Fund and starting in February 2019, the American Football Alliance claims to provide increased player safety and a more appropriate fan experience with the help of a mobile application that will host live stream games. It will start with eight teams in unnamed cities and each will play 10 regular season games.
Live sports ratings on traditional cable networks have fallen in recent years, top-tier broadcast services have gained momentum, and consumers are cordless.
As the official TV partner for the new league, CBS has released two games for the first time at CBS and other regular season games at the CBS Sports Network. The majority of matches will appear live in practice.
Thiel, the founding partner of PayPal, Facebook’s director and leading investor, is taking the public out of Silicon Valley and changing its investment focus. The Founder Fund immediately submitted a comment from CNBC.