Mike Florio of Pro Football Talk says the Arena Football League is officially kaput.

[TMC]

http://profootballtalk.nbcsports.com/2009/08/03/source-afl-is-indeed-done/

Well, if former Tampa Bay Storm COO Jim Borghesi was guessing, he
guessed right.

The source who told us that Borghesi no longer is in position to know
what the AFL will or won't be doing in the future now tells us that,
indeed, the AFL will be folding its tents.

A press conference is expected early this week, no later than
Wednesday.

Borghesi broke the news of the impending death of the AFL on his
Facebook page over the weekend.

So that's it. The AFL is no more.