NFL football reigns supreme in North America as it was announced today that the inaugural season for the All American Football League has been turfed due to lack of financial backing.

The league’s chief executive officer, Marcus Katz, said economic conditions forced the decision to scrap plans for this year.

“I invested 29 million dollars in cash to roll out the operations of the league,” Katz told the station, adding he was owed “a lot more money” by a student loan company.

“When I told the board I would subsidize the league, that was before the bond market collapsed,” Katz said.

Oh well. You know the NFL season will be back without a doubt and now’s the best time to make your 2009 Super Bowl bets. The New England Patriots are the favorites at 1/3 odds to win; the Indianapolis Colts are at 7/1 odds to win; San Diego Chargers are 8/1 odds to win; the Dallas Cowboys are the 9/1 favorites to win; while the 2008 Super Bowl champions the New York Giants are the 16/1 odds to win the 2009 Super Bowl.