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Arena Football snaps up Indoor Football League for $3.6M.
ORLANDO -- The rough and tumble Arena Football League is buying the fledgling Indoor Football League.
Orlando Predators Entertainment, Inc. is the money man.
The corporate parent to the Orlando Predators AFL team, Orlando Predators Entertainment is using some of its stock -- the company declines to say how much -- to help finance the $3.6 million cash and stock buy.
Terms of the deal give Orlando Predators, which already owns 12 percent of the AFL, first choice at owning up to three teams in the 21-team football league.
"It's all about building arena football," says Jeff …