So after seeing this banner running on more than one site it looks like we can confirm that the sale includes the contracts of many of the bigger name fighters in the organization.  As many people have already been saying on this site and others, this is awful news for these fighters to be able to seek out gainful employment elsewhere.

When you click on this banner you are given the following information:

NOTICE OF PUBLIC SALE

Notice is hereby given that the Collateral (as defined below) will be sold by Showtime Networks Inc. ("Showtime") at a public sale on November 17, 2008 at 10:30 a.m. (Pacific Standard Time) at the offices of Hughes Hubbard & Reed LLP, 350 South Grand Avenue, Los Angeles, California 90071. The term "Collateral" means all of ProElite, Inc.'s ("ProElite"), Real Sport, Inc.'s ("Real Sport"), ProElite.com's ("ProElite.com"), EliteXC Live's ("EliteXC") and King of the Cage, Inc.'s ("KOTC"; each of ProElite, Real Sport, ProElite.com, EliteXC and KOTC, a "Debtor" and collectively, the "Debtors") right, title and interest in, to and under, whether now owned or hereafter acquired by such Debtor, all present and after acquired personal property of such Debtor, whether tangible or intangible, wherever located and of whatever nature. The Collateral includes all contracts between any Debtor and mixed martial arts fighters (including, but not limited to, Kevin Ferguson a.k.a. "Kimbo Slice", Gina Carano, Jake Shields, Robbie Lawler, Frank Shamrock, Antonio Silva, Brett Rogers, Dave Herman, Scott Smith, Nick Diaz, Cristiane Venancio Justino a.k.a. "Chris Cyborg", Eddie Alvarez, Yves Edwards and Wilson Reis) and all of each Debtor's video library, still photographs and home videos (e.g., DVDs and VHS tapes). The Collateral will be sold to the highest qualified bidder in public on November 17, 2008 at 10:30 a.m. (Pacific Standard Time) at the offices of Hughes Hubbard & Reed LLP, 350 South Grand Avenue, Los Angeles, California 90071. The Collateral will be sold on an "as-is, where-is" basis, without recourse, warranty or guarantee of any kind, express or implied, including as to title, possession, enforceability, validity, merchantability or fitness for a particular purpose. Interested bidders who would like further information regarding the Collateral to be sold should contact Kent Sevener at (212) 708-3259. Showtime reserves its right to adjourn or cancel the sale at any time.

What's more than just the delay of these fighters being able to look to find fights elsewhere there is also the matter of the potential legal battles were they to be bought up by promotions they have no interest in fighting for.  This is just a bizarre and unfortunate situation resulting from the demise of a promotion which seemed to specialize in the bizarre and unfortunate.

Update from Michael Rome:  This is more than just unfortunate for the fighters, it is tragic.  If they are unable to negotiate with the UFC to get deals before Affliction dies, they will be left with no bargaining power.  They are stuck in a terrible limbo at this point because there just aren't a lot of people out there looking to buy.

It's interesting to consider whether the UFC would consider buying any of these.  My guess is no since they will get them for less eventually, but some may be worth taking now instead of waiting 6 months for.  Plus, it would be the height of irony if they bought back contract rights to Frank Shamrock's fights.