Major US sports organization files for Chapter 11 bankruptcy todayheadline

Americans tend to differ with the rest of the world when it comes to sports.

We’re late to the party on soccer (or football as the rest of the world calls it, but at least that sports has a toehold in the United States. We have Major League Soccer and will host the next World Cup.

Americans may not love soccer as much as the rest of the world, but they know the basics. And, while it may not be as pervasive as basketball, many American kids do grow up playing soccer.

“The number of youth soccer players in the United States has doubled, to 4.04 million players, since 1990, according to the United States Soccer Federation.

Older players are increasing too.

“At the same time, the number of high school soccer players has more than doubled since 1990, to 730,106 athletes, the fastest growth rate among any major sport,” according to statistics compiled by the Sporting Goods Manufacturers Association.

And, while soccer is the world’s most popular sport, the globe’s second most popular sport, cricket, is practically unknown in the United States.

The entire future of cricket in the U.S. also hangs in the balance as USA Cricket has filed for Chapter 11 bankruptcy.

Top 10 most popular sports in the World (2025)

1. Football (Soccer): 3.5 billion fans, dominates globally, especially in Europe, Africa, Asia, and Latin America.
2. Cricket: 2.5 billion fans, extremely popular in South Asia, Australia, and the UK.
3. Field Hockey: 2 billion fans, widely played in Europe, Asia, and Africa.
4. Tennis: 1 billion fans, enjoyed across Europe, Asia, and the Americas.
5. Volleyball: 900 million fans, popular in Europe, Asia, Australia, and the Americas.
6. Table Tennis: 850 million fans, especially popular in Asia and Europe.
7. Basketball: 800 million fans, widely followed in the Americas, Oceania, and the Middle East.
8. Baseball: 500 million fans, most popular in the United States, Japan, and parts of Latin America.
9. Rugby: 475 million fans, popular in Oceania, South Africa, the UK, and parts of Latin America.
10. Golf: 400 million fans, enjoyed in the United States, Oceania, and Europe.

Source: WorldAtlas

USA Cricket files for bankrutcpy

USA Cricket, the National Governing Body for the sport in the U.S.,voluntarily filed for financial reorganization under Chapter 11, Subchapter V of the U.S. Bankruptcy Code on Oct. 1. 

“This aggressive, but necessary legal move is the best path forward to ensure the future of American cricket,” according to the organization.

USA Cricket is currently suspended by the International Cricket Council, the sport’s global governing body.

USA Cricket CEO Johnathan Atkeison, who joined the organization in 2024 after previously contributing to a successful reorganization of USA Rugby, explained why the filing was needed in a press release.

This action is designed to reorganize financially, give the organization time to address concerns raised by the International Cricket Council, and to level the playing field against powerful entities that seek to exploit the American arm of the sport.

One factor to USA Cricket’s need for financial reorganization was the financial strain and operational interference caused by its agreement with American Cricket Enterprises (ACE) USA Cricket shared the following about that deal, which it terminated in Sept.

ACE agreement. The original 50-year agreement, which heavily favors ACE, does not appear to have been completed at arm’s length as understood by the USA Cricket Board. It was negotiated largely by one USA Cricket Board member who did not disclose certain conflicts of interest that both he and his employer had with ACE affiliates.

USA Cricket Chapter 11 bankruptcy facts

• Date of Filing: October 1, 2025
• Legal Framework: Chapter 11, Subchapter V of the U.S. Bankruptcy Code
• Purpose: Financial reorganization to address operational and financial challenges
• CEO Statement: Johnathan Atkeison described the move as “aggressive but necessary” to secure the future of American cricket

State of USA Cricket

• ICC Suspension: The International Cricket Council (ICC) suspended USAC on September 23, 2025, citing serious breaches of membership criteria
• ACE Partnership: USAC terminated its 50-year agreement with American Cricket Enterprises (ACE) on August 22, 2025, due to financial strain and operational interference
• Assets and Liabilities: Early bankruptcy filings reveal modest assets and unsecured claims exceeding $500,000
• Player Contracts: Current player contracts, including those of senior internationals, are under Chapter 11 oversight and may face delays or renegotiation

ACE shares its position

ACE worked with USA Cricket to manage the sports in the U.S. which includes the professional MILC league and the upcoming addition of the sport to the Olympics in 2028.

American Cricket Enterprises (ACE) has rejected USA Cricket’s decision to terminate its 50-year agreement with the organization, calling the move ‘unlawful’ and warning it could disrupt ongoing and future cricket development in the United States,” the Times of India reported. 

In the Colorado case brought by ACE against USAC, USAC’s counsel simultaneously notified the court of the bankruptcy just minutes before the hearing was set to begin, a step that pauses the hearings, CricBuzz reported.

“USAC could not bear for the preliminary injunction hearing to even begin, and knew the result was a forgone conclusion: it had no basis to terminate the parties’ agreement and was recklessly imperiling the success of cricket in the U.S. USAC has zero regard for the best interests of cricket and its players, and is only motivated by politics and its directors’ personal agendas”, shared an ACE representative.

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