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Feb 6, 1963: Titans file for Bankruptcy Protection


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Just came across this little nugget online.  60 years ago today, NY Titan owner Harry Wismer filed for Bankruptcy protection. 

The filing was an attempt by Wismer to use the courts to stop the League from taking over the team and forcing sale of the franchise.  His bankruptcy petition would be denied on Feb 17, prompting the League to take control of the team and engineer the March sale of the Titans to a 5 man consortium including Sonny Werblin and Leon Hess.  Which worked out pretty well for the AFL, considering the Jets would be Champs 5 years later  which helped force teh NFL-AFL merger. 

As for the Jets, the subsequent 50+ years of Hess then Johnson ownership would tell a different story.

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