ProElite, Inc. Has Accepted a Bid to Sell Its Assets to an Outside Company

I hear it was Burger King, I kid you not

im not impressed with your performance

by troy145 on Dec 18, 2008 10:51 AM EST reply actions 0 recs

That would be fantastic.

Bolts from the Blue // "It is what it is." - A.J. Smith
Bloody Elbow // "Every normal man must be tempted at times to spit upon his hands, hoist the black flag, and begin slitting throats." - H.L. Mencken

by Richard Wade on Dec 18, 2008 2:17 PM EST up reply actions 0 recs

yeah i said it as a joke but it would be HUGE for mma

im not impressed with your performance

by troy145 on Dec 18, 2008 5:09 PM EST up reply actions 0 recs

And the jokes would be excellent, I’m sure.

Bolts from the Blue // "It is what it is." - A.J. Smith
Bloody Elbow // "Every normal man must be tempted at times to spit upon his hands, hoist the black flag, and begin slitting throats." - H.L. Mencken

by Richard Wade on Dec 18, 2008 6:00 PM EST up reply actions 0 recs

I actually hope it was Strikeforce. There needs to be a rival company to the UFC to keep people honest..

by lbk on Dec 18, 2008 11:07 AM EST reply actions 0 recs

100% agreed.

by "Mr. NC-17" on Dec 18, 2008 11:50 AM EST up reply actions 0 recs

I Hope Not

They are doing just fine without all that baggage that comes with that org.

http://mma4real.net/

by Tha Realness on Dec 18, 2008 11:53 AM EST up reply actions 0 recs

Well, I guess I meant I hope Strikeforce did so they can sign the good fighters and just get rid of the inept execs from pro-elite. So, hopefully no baggage at all.

by lbk on Dec 18, 2008 12:06 PM EST up reply actions 0 recs

What Baggage?

They are just buying the bankrupt assets.

The debt will surely not be part of any deal.

" Tell me something Steve, How does a guy from Puerto Rico loose a ball in the Sun? "

by aaronb on Dec 18, 2008 12:19 PM EST up reply actions 0 recs

Fighter contracts that probably won’t transfer, tv contracts that aren’t good enough to actually make money off of, a video library of questionable value, a big dragon stage set and a used cage. Even the assets seem like overpriced baggage at this point and it’s definatly nothing that Strikeforce should waste money on.

by who me on Dec 18, 2008 1:47 PM EST up reply actions 0 recs

Strikeforce wants to be on network tv, and it seems that NBC is giving them a hard time, so they were trying to go after CBS. They would also LOVE to acquire Gina Carano to grow their female division. They are also in great need of stars since Cung Le won’t be fighting much longer. For those that claim great success on the part of Strikeforce, it usually only happens when Cung Le and/or Frank Shamrock fight in San Jose.

by MMASuPreMaCy on Dec 18, 2008 1:52 PM EST up reply actions 0 recs

If Strikeforce wanted to be on CBS they would be better off to just open up negotiations with CBS instead of paying millions to buy ProElite’s bad tv deal with CBS that only has one fight left on it anyway. As far as Gina Carano goes does anyone even know if Carano’s contract would transfer to another company this way? Would Carano be worth a possible 9 million dollar bid? Once again if they want to sign Gina it would be better (and cheaper) to just go talk to Gina and help her get out of her contract than it would be to buy EliteXC.

by who me on Dec 18, 2008 2:20 PM EST up reply actions 0 recs

I am pretty sure the bidders 2 priorities in submitting a bid was the fighter contracts and the tv/network deals. I am pretty sure no one would bid if neither of the 2 were a guarantee.

by MMASuPreMaCy on Dec 18, 2008 3:01 PM EST up reply actions 0 recs

Oh I am sure the tv contract is a guarantee, it’s just not a good contract and it’s only got one event left on it. As far as the fighters contracts go it’s been pointed out in these discussions that reviving EliteXC might keep the contracts but they most likely won’t transfer to a different organization (as with the Pride buyout) and that would leave Strikeforce out as they definatly aren’t going to run ZombieXC. Of course the only way to guarantee the fighter contracts would be to contact every single fighter and ask them if they would agree to the transfer or fight it in court and if that had happened I bet we would of seen a lot more leaked information coming out of this.

by who me on Dec 18, 2008 3:20 PM EST up reply actions 0 recs

P.S. Strikeforce WAS in negotiations with CBS, along with Affliction and the UFC.
We don’t know much about what materialized from those negotiations, but we do know that CBS/Showtime already has a good working relationship with EliteXC and Affliction.

by MMASuPreMaCy on Dec 18, 2008 3:06 PM EST up reply actions 0 recs

They had a working relationship with EliteXC, they did all of one match with Affliction. Showtime also did the Strikeforce/EliteXC co-promotion events too so I’m sure Strikeforce has had a working relation contact with them too. All this leads to Strikeforce being better off if they just went back to the negotiating table with Showtime and CBS instead of tossing millions at ProElite assets.

by who me on Dec 18, 2008 3:26 PM EST up reply actions 0 recs

You are forgetting that Showtime is also producing and hosting the PPV for the Affliction Day Of Reckoning event as well. Also, it has been a WHILE since Strikeforce worked with Showtime, due to legal actions.

My other theory is that Strikeforce may be getting a bad deal in straight up talks with CBS.

by MMASuPreMaCy on Dec 18, 2008 3:53 PM EST up reply actions 0 recs

A bad deal in straight up talks isn’t a reason to pay 9 million for a horrible deal with only one event left on it.

by who me on Dec 18, 2008 9:32 PM EST up reply actions 0 recs

Yeah. Either way, they obviously pulled out for these and probably many more reasons. NBC should be their #1 station if everything goes well for them.

by MMASuPreMaCy on Dec 18, 2008 9:36 PM EST up reply actions 0 recs

Furthermore, a source says that what CBS has told companies interested in placing a bid on ProElite that they would be paid a rights fee of $400,000 per show. However, any company that inherits the television contract would also be obligated to cover CBS’ production costs, which are believed to be as much as $500,000.

Such a horrible tv deal.

Did you know we are in high demand, Laura?

by Eugene Schelfaut on Dec 18, 2008 2:02 PM EST up reply actions 0 recs

I really don’t get why anyone would pay anything for that.

Sure, they can make more money by selling some of the ad space, but do any of these companies that are in talks for buying ProElite really have the pull/power/connections to sell national commercials?

by Phildo on Dec 18, 2008 2:53 PM EST up reply actions 0 recs

I don’t think anything affiliated with pro-elite should be anywhere near the word honest…

by iiowyn on Dec 18, 2008 11:53 AM EST up reply actions 0 recs

WWE.

MHAHAHAHAHAHAHAHAHA!

by RoyalB on Dec 18, 2008 11:10 AM EST reply actions 0 recs

It was me...

merry christmas ya’ll I bought you a dead company!

Contributing Editor - BloodyElbow.com - SBNation's mixed martial arts headquarters.

by Brent Brookhouse on Dec 18, 2008 11:49 AM EST reply actions 0 recs

Dibs on Carano

by szucconi on Dec 18, 2008 11:51 AM EST up reply actions 1 recs

Yeah, I wonder who’s the genius buying an org where the fighter contracts can’t be automatically transferred, and a TV deal where you have to pay 100k per…

There’s a reason why Zuffa didnt make a bid on this shit and a reason why Zuffa didnt sign the original CBS deal…

The reason is Zuffa has common sense.

by mmalogic on Dec 18, 2008 12:12 PM EST reply actions 1 recs

Well, apparently 5-6 groups were intrigued enough to make a bid or show interest in doing so.

Yeah, there is a reason why Zuffa doesn’t do tv deals or sign big name fighters, because they don’t have to. It is a great opportunity for the smaller companies to jump in the spotlight if they can get some professionals to run their business.

by MMASuPreMaCy on Dec 18, 2008 1:46 PM EST up reply actions 0 recs

Showing interest doesn’t mean much if it doesn’t result in a bid because it would suggest that upon closer inspection they were no longer interested. Do we have any idea how many groups made a bid?

Bolts from the Blue // "It is what it is." - A.J. Smith
Bloody Elbow // "Every normal man must be tempted at times to spit upon his hands, hoist the black flag, and begin slitting throats." - H.L. Mencken

by Richard Wade on Dec 18, 2008 2:19 PM EST up reply actions 0 recs

Yes. 3 Groups made a bid wiht a possibility of four.

Ken Pavia confirmed the same a week ago.

by MMASuPreMaCy on Dec 18, 2008 3:04 PM EST up reply actions 0 recs

Interesting.

Bolts from the Blue // "It is what it is." - A.J. Smith
Bloody Elbow // "Every normal man must be tempted at times to spit upon his hands, hoist the black flag, and begin slitting throats." - H.L. Mencken

by Richard Wade on Dec 18, 2008 3:05 PM EST up reply actions 0 recs

It would be interesting to see who made bids and estimates on how much was bid because not every company would be interested in the same things. Interest in the assets doesn’t neccessarily mean there is any actual interest in EliteXC, that depends on the company doing to bidding. For example I’m sure HDNet would be very interested in the video library but probably wouldn’t want to revive the company where as we know KotC is interested in continuing EliteXC business under their brand name.

by who me on Dec 18, 2008 3:38 PM EST up reply actions 0 recs

True. ProElite has a hell of a library if KOTC, ROTR, ICON, SpiritMC, Cage Rage, and EliteXC are all included. Those orgs have some really impressive fighters and fights combined.

by MMASuPreMaCy on Dec 18, 2008 4:11 PM EST up reply actions 0 recs

ROTR has Penn v. Gomi and Dana kissing SO MUCH Penn ass it is really funny. And the ROTR 175lbs torney. Cage Rage is a small pond though.

by szucconi on Dec 18, 2008 4:57 PM EST up reply actions 0 recs

Cage Rage has Anderson Silva vs Lighting, Vitor, Manhoef vs Cyborg, and tons of other gems.

by MMASuPreMaCy on Dec 18, 2008 6:02 PM EST up reply actions 0 recs

Anderson Silva vs Lightning Lee Murray

by MMASuPreMaCy on Dec 18, 2008 6:04 PM EST up reply actions 0 recs

It is the kind of film library that HDNet(or Zuffa) would be interested in (especially if all the sub-companies libraries come with it) but if HDNet is bidding then we can be pretty sure that is all they are after. It shouldn’t be assumed that a interesting party bidding on the assets actually wants the company or has any future plans for it because we aren’t sure who was bidding or who bid the most.

by who me on Dec 18, 2008 9:44 PM EST up reply actions 0 recs

Well, Zuffa did sign Dan Evensen. Not sure what’s common sense about that. ;)

by Luke Thomas on Dec 18, 2008 1:47 PM EST up reply actions 0 recs

Since when is trying to give Kongo a KO of the Night Bonus isn’t common sense?

Their grand planned was ruined by Manny didn’t get knocked out as fast as humanly possible

by Phildo on Dec 18, 2008 3:10 PM EST up reply actions 0 recs

Hey, their gonna have shows in 2009

right?

Bwahahahha….

I truely feel bad for the fighters under contract to EXC because of the roller coaster ride that this has been. I wouldn’t be suprised to find out that those fighters were finding out this information the same way we are.

by Razreshat on Dec 18, 2008 12:15 PM EST reply actions 0 recs

Wouldn’t you feel worse if more promotions go under leaving less opportunities for fighters to earn a living? Zuffa can only employ so many.

by tylerdurden1 on Dec 18, 2008 6:06 PM EST reply actions 0 recs

Well, these fighters haven’t really had much opportunity to fight lately. I’d rather have organizations that are run by people that at least have half a clue what they are doing so the fighters can fight, and not have to worry about getting stuck in a company that is bankrupt, no wait we’re not bankrupt we’re doing cards next year, oh no we’re selling the org to someone else, wait, no one wants to buy us, oh we’re going to be sold by the end of the year.

by Phildo on Dec 18, 2008 8:34 PM EST up reply actions 0 recs

It has only been a few months since their last event, and the way things are looking, the fighters will be back in action early next year. Most fighters like Herman, Smith, Silva, Alvarez, etc have all fought or will fight in the near future, so they are getting paid while this mess is being sorted.

Zuffa fighters are lucky if they fight 3-4 times a year, so, the situation is not that bad, YET.

The one fighter who I REALLY feel bad for is Joey Villasenor. He has had 2-3 fights cancelled in a row :(

by MMASuPreMaCy on Dec 18, 2008 8:59 PM EST up reply actions 0 recs

But it’s nearing 6 since Robbie Lawler’s last fight (and 2 times where he’s been scheduled to fight and had it cancelled).

The fighters are getting fucked by this elite situation, there’s no other way to put it.

by Phildo on Dec 18, 2008 9:18 PM EST up reply actions 0 recs

Of course, my statement only applies if it is a nice transition in the future and NO Zuffa Freeze Outs or Legal Locks occur.

by MMASuPreMaCy on Dec 18, 2008 9:00 PM EST up reply actions 0 recs

A bad company that screws the sport up and strands fighters under contract is worse than no company at all. It’s not any old fly by yokels willing to burn through some money before they get run out of town that MMA needs it is competent quality organizations with real financial lasting power and a business plan that actually makes sense.

by who me on Dec 18, 2008 9:54 PM EST up reply actions 0 recs