After a number of deals falling through at the last minute, it appears Pro Elite has either been sold or is in the very final stages of being sold as of this morning. Under the terms of the sale, the buyer would likely return to CBS television with live events this year.
The most likely buyer is Strikeforce. The other leading contender was King of The Cage, but industry sources have suggested that Pro Elite fighters are much more willing to fight for Strikeforce than KoTC, and the ease of signing new contracts may have played a part in finalizing this deal.
If the buyer is Strikeforce, the contracts are probably not transferrable, but the vast majority of fighters will likely be happy to just move over and fight there just to get on with their lives.
This is great news for fighters who are finally free from limbo to pursue their careers. If Strikeforce is the buyer, every fighter will have a choice to either move over to the new organization or pursue free agency. As the UFC learned when they bought Pride, personal service contracts are generally not transferrable, especially in a right to work state like California.
[UPDATE] by Nick Thomas: Scott Coker from Strikeforce the new owner of ProElite?:
Announcement coming tomorrow or Friday according to Sherdog Radio.