FanPost

Gary Shaw: Being Ousted From ProElite?

Adam Swift of MMAPayout has the scoop...

Speculation within the MMA industry suggests that Gary Shaw's days at ProElite may be numbered. Rumors suggest that Shaw may be out by the end of the summer, possibly soon after the July 26 CBS event. Multiple sources have told MMAPayout.com that the expected move is another example of CBS's growing influence on the company. Santa Monica Capital Partners, the largest shareholder in the company, is also believed to have taken a more active role in the company of late.

Under terms of its deal with ProElite, CBS is entitled to purchase 500,000 shares of stock in the company each time it broadcasts a show on CBS. Based on those options and warrrants already exercised in conjunction with the CBS and Showtime deals, CBS Corporation is believed to be the second largest shareholder in the company.

Earlier this year, Doug DeLuca was "promoted" from CEO to Chairman of the Board in favor of Charles Champion. That move was reportedly also at the behest of CBS and Santa Monica Partners. CBS also fast tracked EliteXC's return to network television to July (as opposed to the October date preferred by ProElite) after reportedly selling out its commercial inventory for the 5/31 show.

Update from Mike:  I wonder why Dana didn't want this deal?  Decisions are now being made about the future of a major MMA company by people that are largely disconnected from the MMA business.  I think this show coming up in July is the best example:  The entertainment people at CBS were so thrilled with the rating that they booked another for the sake of "momentum," without understanding that the rating wasn't a reflection of the popularity of MMA, but rather a reflection of the interest in Gina Carano and Kimbo Slice.  The deal obviously made sense for the new financial partners that are keeping CBS alive, because the company was on death's door, but it was hardly the coup Shaw and others made it out to be when they signed it.

 

 

\The FanPosts are solely the subjective opinions of Bloody Elbow readers and do not necessarily reflect the views of Bloody Elbow editors or staff.

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