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View Full Version : The end arrives for EliteXC



Bosco Baracus
21-10-2008, 08:30
EliteXC has thrown its last punch.

Mounting financial losses and questions surrounding the handling of its latest event have led to the demise of ProElite, Inc., owner of EliteXC. MMAjunkie.com (http://mmajunkie.com/) has confirmed through a company source with knowledge of the situation that ProElite will cease operations this week.

EliteXC has made no official announcement, but news first broke late Monday with a bold post on the GracieFighter.com (http://graciefighter.com/?page=news) website, which stated: "We are confirming that EliteXC has folded."

Cesar Gracie-trained lightweight Nick Diaz and Eddie Alvarez were scheduled to fight for EliteXC's vacant 160-pound title on the promotion's Nov. 8 card at the Reno Events Center in Nevada.

It is a spectacular collapse for EliteXC, viewed by most that follow the sport as the No. 2 promotion in the country behind the UFC.

EliteXC brought mixed martial arts to network TV with a groundbreaking prime-time deal with CBS, and has been instrumental in raising the profile of MMA among mainstream sports fans.

However, the two-year-old promotion has been dogged by criticism almost from the day the company hung its shingle. MMA traditionalists took issue with everything from its leadership under boxing promoter Gary Shaw, to the pro-wrestling-influenced production of its shows, to how it promoted Kevin "Kimbo Slice" Ferguson into a star, despite his lack of MMA experience.

The most damning blow for the organization, though, has been the perception that it tried to influence the outcome of the fight between Ferguson and Seth Petruzelli at the "EliteXC: Heat" event on Oct. 4. During an interview with an Orlando radio station following the bout, Petruzelli insinuated that EliteXC officials encouraged him to strike with Ferguson, rather than take him to the ground, where Petruzelli would have a decided edge in the fight.

"The promoters kind of hinted to me and they gave me the money to stand and trade with him," Petruzelli said on the "The Monsters in Orlando" show on 104.1 FM on Oct. 6. "They didn't want me to take him down; let's just put it that way. It was worth my while to try to stand up and punch with him."

Jeremy Lappen, EliteXC Head of Fight Operations, has been unwavering in his defense of what transpired in South Florida. He said there was no attempt to manipulate the fight, saying a knockout bonus was worked into Petruzelli's contract before the bout – a standard EliteXC practice with some of its fighters. In an interview (http://mmajunkie.com/news/12989/elitexc-executive-welcomes-florida-probe-insists-its-a-non-story.mma) with MMAjunkie.com, Lappen called the controversy a "non-story."

However, a second source contacted by MMAjunkie.com Monday night said he believed the questions raised by the incident and the pending investigation into the matter by the Florida Department of Business and Professional Regulation derailed the one outcome that could have saved EliteXC from going under – a purchase of the promotion by Showtime.

EliteXC's premium cable broadcast partner disclosed in a Sept. 17 filing with the Securities and Exchange Commission its intent to enter into negotiations to acquire the promotion.

Despite EliteXC's public declaration that everything with regard to the Ferguson-Petruzelli fight was handled above board, the source indicated that the incident, along with mounted financial losses, soured Showtime's interest in a deal. Showtime currently owns approximately 20 percent of EliteXC.

ProElite has lost more than $55 million since it was founded in 2006. EliteXC produced its first show in February of 2007.

The show that generated the most backlash against EliteXC – and will go down as the promotion's last – couldn't have even happened without intervention from CBS.

EliteXC didn't have the necessary funding to stage the Oct. 4 "Saturday Night Fights" show and was forced to enter into an agreement with CBS whereby the network assumed all expenses for the event and received all event revenue.

ProElite/EliteXC simply didn't have a compelling enough product to generate revenue to stay afloat


The end arrives for EliteXC | MMAjunkie.com
(http://mmajunkie.com/news/13057/the-end-arrives-for-elitexc.mma)

sportfan
22-10-2008, 17:55
EliteXC is toch ook eigenaar van Cage Rage?

Jani
22-10-2008, 17:58
EliteXC is toch ook eigenaar van Cage Rage?

volgens mij mede eigenaar

hier een update van cage rage:

And so the fallout begins… as EliteXC hit the wall, there will understandably be a massive scurry for top tier talent as well as speculation on the future of all the other brands that were held under the umbrella. One such brand cut its teeth in the U.K. and tittered on the edge of international expansion before being amalgamated into the behemoth that was ProElite.

Originally founded by Dave O’Donnell and Andy Geer as a small regional show before taking onboard once silent partner John Faraday, the company started to grow and attract talent from Brazil, the U.S., and Japan; and in turn relocate from venue to venue before settling on Wembley Arena and crowds that varied between 4,500 and 8,000 depending on the card. High times indeed, but since ProElite came onboard there has been a significant cost-cutting and business streamlining process that lead to a date for Cage Rage 28 at the smaller Troxy venue in East London and a trimming of staff, some left, others had their roles reduced and pursued other business endeavours.

Dave O’Donnell, the one constant since its inception, told MMAWeekly.com of the demise of the brand’s parent company, “For Cage Rage it is business as usual. The next show is Contenders. It’s still going ahead. I can tell you that much.”

An interesting statement, and one that begs the question: so if ProElite pull out of MMA with EliteXC, does that mean they are going to sell their umbrella brands back to their previous owners? “Put it this way, one way or another we will still keep going, maybe it’s eventually under another name, maybe it’s not, but we will still be here, that’s all I can say,” added O'Donnell.

It did seem that Cage Rage had been treading on water with the last card, but the upcoming Cage Rage 29 card had been shaping up to be a return to some of the previous competitive cards we have seen in its past. And love it or hate it, they had been targeting a new audience with the series on Nuts TV “Fighting Hurts.”

O’Donnell addressed the future of the series stating, “There will be another series after this one, a Fighting Hurts Series 2, a platform for guys who want to try this cage fighting stuff they have heard about and try to give them a chance to taste it, start their careers.”

So with irons in the fire, it would appear that the promotion will be soldiering on regardless – ultimately when it comes to distributing ProElite’s assets, things may change, but O’Donnell for one remains confident in there being a future in MMA for himself and his team.

Will we see a return of Andy Geer into the fold? “Andy was at the last show, and will be at the next one as well, but I don’t think he will be doing MMA again. He’s one of my best friends, but he is a successful businessman in his own right and has his own interests to look after,” concluded O’Donnell.

Back to the original point, will Cage Rage continue? In one form or another, the answer is yes from the main man. The bigger picture is that if the show ends, the effects on U.K. MMA are negative and will dovetail with the situation in the U.S. – an increase in the free agents flooding the market, thus devaluing the fight purses offered to “name” fighters because of an abundance of resources and in turn stifling the chances of developing fighters to come through.

blackadder
22-10-2008, 18:17
Deja vu. Dit hadden we al eens.

Tony
22-10-2008, 18:18
Pro Elite EliteXC is failiet... End of story! - www.MixFight.nl (http://www.mixfight.nl/forum/showthread.php?t=86450&highlight=elitexc)

chief108
22-10-2008, 18:33
yup..
repost

/thread