AFL taking new plan to owners

The Arena Football League, which suspended play for the 2009 season, said Thursday it has a revitalized business plan ready to present to the league's 16 remaining teams.

Jim Renacci, the co-owner of the Columbus Destroyers and chairman of the AFL executive committee, said details of the plan will be shared with owners "over the next two weeks."

"The group that developed the new viability plan is set to meet with owners across the league to review it and the amendments to the [collective bargaining agreement]," Renacci said in a league-issued news release. "We hope to see everything ratified in the next 30 days."

In March, AFL players and management said they reached agreement on a new CBA. A term sheet was signed by both sides.

"The owners of the AFL realize we have the most fan-friendly, affordable and accessible sport anywhere," Craig Spencer, co-owner of the Philadelphia Soul, said in the news release. "The process of revamping our business model will ensure that the AFL continues to provide value to its fans, not only surviving in the years to come, but thriving. There is still a lot of work to be done, but I am excited that we are close to bringing this great game back to the fans."