Alliance of American Football co-founder Bill Polian has confirmed reports that the league will suspend all football operations. Darren Rovell of the Action Network first reported Tuesday that the first-year league, with teams including the Memphis Express, would be suspended with two weeks to go in the regular season

The league jumped out to strong ratings after its first weekend, with CBS averaging 3.25 million viewers. But financial problems crept up after the second week, which prompted Tom Dundon, who owns the NHL’s Carolina Hurricanes, to step in with a $250 million investment and become the league’s primary investor.

“I am extremely disappointed to learn Tom Dundon has decided to suspend all football operations of the Alliance of American Football,” Polian said in a statement. “When Mr. Dundon took over, it was the belief of my co-founder, Charlie Ebersol, and myself that we would finish the season, pay our creditors, and make the necessary adjustments to move forward in a manner that made economic sense for all.”

According to reports, Dundon sent a letter to all eight teams Tuesday detailing what happens next.

Steve Spurrier, the head coach of the Orlando Apollos is particularly disappointed over the news. Perhaps this could be attributed to the fact that his team was first place in the league.

Former NFL quarterback Johnny Manziel signed last month and was allocated to Memphis. Manziel offered some advice to AAF players on Twitter with Tuesday’s news.

The league signed all players to three-year, non-guaranteed contracts worth $70,000 in the first year, $80,000 in the second year and $100,000 in the third year. The hope, Polian said, was that the league would send players to the NFL.

In his statement Tuesday, Polian said he’ll do “all I can” to help the league’s players achieve that.