FantasyDraft saves the day, announces refund for Fantasy Aces players

FantasyDraft is getting involved with rival Fantasy Aces again—only this time, the daily fantasy sports operator is stepping in to reimburse Fantasy Aces players who were left high and dry after the Toronto-listed company filed for Chapter 7 bankruptcy protection several weeks ago.

FantasyDraft co-founder and CEO Steve Krombolz announced on Tuesday that they have entered into an agreement with the bankruptcy trustee for FantasyAces “to obtain player account and balance information in order to help reimburse missing player funds.”

Under the agreement, FantasyDraft will reimburse players of Fantasy Aces up to $1,000 cash to cover missing account balances. For those with account balances between $1,000 and $5,000, FantasyDraft will provide $1,000 cash plus the remaining balance of up to $4,000 in FantasyCash.

Players with a Fantasy Aces cash balance of more than $5,000 are eligible to receive $1,000 cash, $4,000 FantasyCash, and a pending bonus for the remainder of their balance. The pending bonus is also paid as FantasyCash and is earned at a 4% rate for each $1 in entry fees paid in U.S. dollars, according to FantasyDraft.