MMAPayout broke the news last night that multiple agents have banded together to file a joint suit for declaratory relief unless EliteXC confirms that the fighters are no longer under contract to them:

The group of fighters have sought from the promotion confirmation that their duties and obligations to EliteXC have been released and terminated. The fighters (via the Mixed Martial Arts Fighters’ Association) have forwarded a draft of complaint to EliteXC officials and, without such acknowledgment of their release within a specified time period, will file the complaint in open court on behalf of its’ members.

It's amazing to me that this took so long, but I suppose it shouldn't be given the amateurish nature of MMA agency.  One commenter on our website put it best: what are these agents being paid for?  They are now doing what has to be done.

Robert also makes the point in his piece that this could force the issue of the EliteXC sale.  It's my belief that the sale hasn't happened and this whole affair has dragged on because the people at Pro Elite have been trying to find a way to free themselves of debt.  If they are forced to eat the debt now because of the threat of suit, this simply turns into a bidding war.  The UFC's only interests in bidding for the company are the EXC video library (very little value) and keeping another promotion off national television.  The UFC can win any bidding war, but it depends on how much value they put on keeping others off television.

Of course, all of this is dependent on the key stars being involved in this threat.  Without Gina, Kimbo, Robbie, and Jake on board, this isn't the biggest threat in the world to EliteXC.