By the end of the 1949 season, the Packers were on a seemingly irreversible slide toward bankruptcy. Rumors abounded that the league would use the impending merger with the All-America Football Conference as an excuse to force the Packers to either move or fold. Amid this, Lambeau tracked down four investors who were willing to pump $200,000 into the team–provided that the franchise become privately held once again. This proposal was considered rank heresy in Green Bay. Many fans and executives believed NFL officials were pressuring Lambeau to move the team to the West Coast. In response, team president Emil R. Fischer tendered Lambeau a two-year contract extension that would have stripped Lambeau of all authority over non-football matters. Lambeau rejected the offer out of hand, effectively ending his tenure at the helm of the franchise that he founded.