With the Posse folding, the Gold Miners moving, and the Pirates facing money troubles, three of the four CFL expansion teams had stumbled. The league, however, still managed to expand into two new markets for the 1995 season. The Memphis Mad Dogs were announced in November 1994, followed by the Birmingham Barracudas in January 1995. The Memphis deal was hailed as a large step forward for the league's presence in the U.S., as it brought in the wealth of team owner Fred Smith (the chairman of Federal Express) and his marketing connections.