Following the suspension of the AFL's 2009 season, league officials and owners of af2 (which played their season) began discussing the future of arena football and the two leagues. With 50.1 percent ownership of af2, the AFL's bankruptcy and dissolution prompted the dissolution of af2.[21] That league was formally considered disbanded on September 8, 2009, when no owner committed his or her team to the league's eleventh season by that deadline.[22] For legal reasons, af2 league officials and owners agreed to form a new legal entity, Arena Football 1, with former AFL teams the Arizona Rattlers and Orlando Predators joining the former af2.[23][24]
All assets of the Arena Football League were put up for auction.[25] On November 11, 2009, the new league announced its intention to purchase the entire assets of the former AFL; the assets included the team names and logos of all but one of the former AFL and af2 teams.[26] The auction occurred on November 25, 2009.[25] The assets were awarded to Arena Football 1 on December 7, 2009, with a winning bid of $6.1 million.[27]
On February 17, 2010, AF1 announced it would use the "Arena Football League" name. The league announced plans for the upcoming season and details of its contract with NFL Network to broadcast AFL games in 2010.[28] AF1 teams were given the option of restoring historical names to their teams. In addition to the historical teams, the league added two new expansion franchises, the Dallas Vigilantes and the Jacksonville Sharks.
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