What next for Kimbo, Carano, Shamrock? - MMA - Yahoo! Sports[

The deals were structured as such that if Pro Elite went bankrupt, all could go back to promoting using the names they developed. King of the Cage, which was the only group profitable underneath the Pro Elite banner, is expected to continue running events as soon as possible. Cage Rage, a U.K. based group whose losses were so staggering they greatly sped up the demise of Pro Elite, is likely not to last much longer.

So it looks like that is some great news for KOTC, ICON, Cage Rage, Spirit MC, etc.

The problem is that the fighter contracts will be held as assets. The problem is that we don't know which fighter contracts this applies to. Is it only EliteXC contracted fighters that fought on Showtime or CBS?

Elite XC wreckage leaves questions unanswered - MMA - Yahoo! Sports

Ken Pavia, who has 12 fighters under contract to Elite XC, believes the contracts will be considered company assets in bankruptcy court and be up for sale to the highest bidder, if such a bidder exists, with the funds used to pay any outstanding debts as well as Showtime, which held a secured loan.

Elite XC contracts were non-exclusive, so if Pavia could get one of his fighters a fight, they could take it as long as it was approved by Elite XC and didn’t interfere with a scheduled fight. Right now, though, he’s under the impression that the fighters may not be allowed to fight until this mess is settled.

Many agents for contracted fighters have contacted UFC and Affliction, but neither side is able to negotiate until either the fighters are released from their contract or bankruptcy proceedings take place.

There are good indications that Showtime will continue showing MMA:

Most expect Showtime to continue in the business, as statements when canceling the Nov. 8 show talked about continuing to go forward in MMA, particularly since they are so far behind HBO in boxing and have the potential to generate MMA as a niche.