Daily Fantasy members of Fantasy Aces in the United States breathed a sigh of relief during the week when they received the following email. [Read more…] about FantasyDraft to assist in retrieving Fantasy Aces player funds
After the merger of Fantasy heavyweights DraftKings and FanDuel it could be argued that the new number two American daily fantasy website on the block was FantasyAces.
A unique platform, well run contests and still an edge for those willing to put the time in.
That was of course, until now.
Fantasy Aces had thought they’d secured some crucial invesment in the form of a takeover from fellow competitor Fantasy Draft.
— FantasyDraft (@FantasyDraft) January 30, 2017
That deal fell through at the 11th hour and has seemingly left Fantasy Aces no choice but to file chapter 7 under the Bankruptcy law.
Fantasy Aces released the following statement to members yesterday morning.
“The FantasyAces team truly regrets to announce that we are unable to sustain our site and business operations effective January 31st 2017, filing for protection under Chapter 7 bankruptcy law.”
“After spending over a year attempting to secure long term capital, including recent negotiations with two notable companies which subsequently failed to close, we are left with an unresolvable financial burden and have spent every waking minute attempting to find a solution for our players most importantly.
We have unfortunately exhausted every possible financial option with no success. We fought as hard as we could, in the end without a major infusion or acquisition we just were not able to make it.
Our site is temporarily shuttered and all accounts are on hold during this time while we work with the bankruptcy court in finding the fastest possible solution for our players.”