AAF done?

It was actually getting good attendance in some cities and pretty good ratings to the point where CBS (like actual CBS) was going to broadcast some games. This Dunder Mifflin guy screwed them.

But I don't understand how it got to the point where they needed him to bail them out in the first place. How can you start a minor league without a couple years of runway before you need a bailout? There's not one business in the world that profits after a couple of months, especially one with the up front costs of a nationwide sports league. What the hell were they thinking would happen? Every game would sell out, and AAF ratings would match the NFL?