MMA Payout gets the scoop:
Pro Elite/Elite XC’s and King of the Cage’s licenses are suspended. They were suspended yesterday, when after looking into the matter carefully the exact situation was determined. However, it is not due to any type of contracts.
The primary reason that Pro Elite/Elite XC’s and King of the Cage’s licenses have been placed on suspension is because of their financial states and the fact that Pro Elite, the owner of King of the Cage, has suspended operations and their tangible and intangible assets are being auctioned on November 17....
CALIFORNIA STATE ATHLETIC COMMISSION
Armando Garcia, Executive Officer
Payout also speculates on rumors that the auction of ProElite's fighter contracts is being held against the wishes of company brass. Sad end to King of the Cage, a great regional promotion for a long time. I hope they can extricate themselves from the ProElite morass at some point.