MMAWeekly Insider reports:
MMAInsider caught up with King of the Cage president Terry Trebilcock on Wednesday, who said he is "confident that negotiations are going well" with executives from Pro Elite and CBS.
Trebilcock's company, with backing from private investors, is one of a handfull of MMA promotions and business interests vying for Pro Elite's assets, including fighter contracts and existing broadcast deals with Showtime and CBS. As one of the remaining promotions still operating under the fallen company, there is strong speculation KOTC may be funding some, if not all, of Pro Elite's operating expenses. In October, Pro Elite's cash reserves drifted below $550,000 when Showtime called in an existing loan to the company.
In anticipation of a possible deal with CBS and Pro Elite, Trebilcock has lined up venues in New Mexico and Southern California for a possible March event, though he wouldn't say where.
However, the logistics of the deal, as well as the personalities involved in its transaction, appear to provide no timeline for its completion.
"They're slow playing us," said Trebilcock.
It was also reported today via MMAPayout that the EliteXC Fighters are fighting back:
MMAPayout.com has learned that a number of the fighters being held in limbo by the ProElite/EliteXC sale will seek to bring their case against the fight promotion collectively, under the auspices of the Mixed Martial Artists Fighters’ Association. 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.
Hopefully, with the added pressure of the fighters via MMAFA, the agents, and the ongoing frustrations of the ProElite biddders, a resolve to this issue will come shortly. It is apparent that the ProElite suitors have become frustrated with the tactics used throughout the negotiations, and with this added pressure along with the operations budget shrinking by the day, one can hope that Terry Trebilcock, who I assumed to always be the front runner for the ProElite acquisition, will come out on top sooner than later.
Either way, the earliest a show will take place is around March or April, somewhere in the South West, and whether having one fight contracts for fighters will keep them happy until then is still up in the air. This is not taking into account whether we have a contract transfer issue on hand as well if a purchase is indeed finalized, which could delay the fighters from escaping this malevolent contractual concoction even more.