ProElite Attempts To Block Public Auction
ProElite, Inc., the parent company of mixed martial arts promotion EliteXC, is attempting to block the sale of its assets by Showtime, according to a recent SEC filing.
“The Company plans to take all appropriate measures to prevent the sale from occurring,” reads a portion of the filing. “Such measures may include raising additional financing, filing a lawsuit enjoining the sale, filing a bankruptcy petition or negotiating a settlement with Showtime. There can be no assurances that the Company will be successful in any of these actions.”
The auction is set to take place on November 17th, leaving ProElite little time to prevent Showtime from auctioning off their assets.
Although the promotion’s greatest asset is without a doubt their fighters, ProElite is unlikely to have success in auctioning off their contracts because, as Zach Arnold points out, they are personal service contracts which, as we learned in the UFC’s purchase of PRIDE last year, are not transferable to another party.
Loading ...
They should just stay out of the MMA Game, it obviously didn’t work the first time, it probably won’t work the second time around
They are probably blocking the auction because they dont want people seeing NO ONE bidding on Kimbo Slice, their golden boy… that or someone says… I got $5 and a buy one get one free Pepsi cap – what can I get with that?? Kimbo’s contract?? Uhhhhh….i suppose….only bc its cold out and I dont need anymore cold soda…
Jason, did you not read AT ALL? Here, let me hlp. “Although the promotion’s greatest asset is without a doubt their fighters, ProElite is unlikely to have success in auctioning off their contracts because, as Zach Arnold points out, they are personal service contracts which, as we learned in the UFC’s purchase of PRIDE last year, are not transferable to another party.”
NO ONE CAN BUY THE CONTRACTS. Do ya get it yet? Let’s try again. You said, “They are probably blocking the auction because they dont want people seeing NO ONE bidding on Kimbo Slice, their golden boy…” less than 5 inches after the article said “Although the promotion’s greatest asset is without a doubt their fighters, ProElite is unlikely to have success in auctioning off their contracts because, as Zach Arnold points out, they are personal service contracts which, as we learned in the UFC’s purchase of PRIDE last year, are not transferable to another party.”
I’m all for slamming EliteXC. Really. But at least do so intelligently.
^^^^^^^^
Haha Dbiz happy Friday thx for the laugh also the dry humping comment in the other thread brightend up a shiit day thx
hey dipsh&* or whatever your name is…its called sarcasm…heard of it? It was meant for a laugh…it was not meant to be serious….sorry most people who know me know that im sarcastic….and wouldnt try to come off as an arogant ass to try and seem smart….
I could give to craps about elite…i dont care what they are auctioning.. whether its the fighters, dancing girls, or fricken elite xc drink coasters from the green room….they were a joke of a company who, if anything, hurt the sport…
So I do apologize if my comment didnt come off extremely intelligent, i will have to ask them to install a preview comment button on here so when you hit that…it will be sent to you before published, all mighty one
haha Jason coming back strong this might end up being good……
Does sarcasm include bad spelling and grammar? Just checking.
Sarcasm implies some level of humor. Usually it’s dry and sometimes it’s obscure. Your brand of sarcasm seems to fall short on both counts. I recommend you speak with some of our British brethren on this site. They seem to have a handle on such things.
In the future, you could try including a “lol” for minor sarcasm or a good old fashioned “rofl” or “roflmao” when you really think you tossed a zinger. That way, I don’t have to try and figure out from your spelling if you are serious. Or would saying “omg i cnt tell if u r srs so cn u plz lol if u rnt?” help you out?
I’ll give them £20 for The Cage Rage name, lame cage, video library & whatever else they have so i can that piece of **** promotion to the ground and wipe it’s existence god i hated that promotion.
Maybe i can also buy the name “Kimbo Slice” as i assume that his moniker might be owned by Pro Elite ?
I forgot to add BURN that piece of sh!t to the ground and probably took away a lot from my own rant…(sigh)
Us and chuck, don’t be surprised to see HDNet make a play for those assets too. The more video library they can license out on fighters they more they stand to make, especially since they can likely get that sort of thing cheap like they did with the remaining IFL assets.
Although on a nicer note, I would also like to beat the dead horse by pointing out that while EliteXC is one step removed from Absolute Stupidity, this will probably allow them to firm up any possible shows in 2009 like they were threatening. While I am far from an expert in business law or contract law, if there is a good possibility of them being able to have a show, I would imagine a bankruptcy judge would have a hard time allowing sales of assets necessary to the operation of an organization.
And to put my two lashings on the dead horse, the contracts of the fighters are not an auctionable asset. The only way the fighters are going to be able to get out of their contracts is to individually sue EliteXC and have them terminated on grounds of EliteXC failing to hold up their end. Since they say they have a show for next year, that won’t happen either. The only way fighters currently under EliteXC control will show up anywhere else is through express permission from EliteXC or by some other organization paying EliteXC a fee to release said fighter from the contract.
“Kimbo Slice” is probably Kevin Fergusson’s, actually but I’m not certain on that. If this sale goes through all of the fighters will effectively be free agents on the 17th.
I’m not sure Kris myself i mean i assume Elite might own his name like in the same way Vince McMahon owns many wrestlers stage names ?
Dbiz your right it would not surprise if HDnet buys the video libraries of KOTC, Icon, Cage Rage & Elite XC now i hope they can set something up in UK in terms if a satellite channel or online access…..
Seriously…I stopped posting on here and come back and have to deal with this? I misspell 1 word and get ridiculed for it and then also get ridiculed for not putting ‘ in words such as dont wont, etc.. I do apologize.. I will need to start saying don’t won’t…etc…also, when done I will run spell check because I have all the time in the world .. and can take the time to make sure its spelled correctly, punctuations are correct, and hopefully (crossing my fingers) no run on sentences… my 8th grade teacher would not be impressed with me…
Also, I guess I have to act like a teenage girl and add LOL when I make a joke too?? Apparently humor is lost on people or sarcasm is lost on people without LOL or JK…because you are right, I am sure someone read my comment and thought… REALLY!?!? they can purchase kimbo for a BOGO Pepsi cap?!? I have tons of those!!! Oh, and BOGO is short for buy one get one… just to clear that up so we don’t have another person posting and saying I need to explain abbreviations..
Seriously…this board is meant to post about MMA – not to tear down someone for not adding LOL or not punctuating properly… if that stuff bugs you, then you have more issues to worry about!
To my knowledge, Kimbo Slice is not owned by him – his childhood nickname was kimbo and apparently he was given the nickname slice after a fight with a guy – he cut his eye badly….so he just started going by Kimbo Slice since… But I havent seen anything on him owning the name…
Cant believe he played for my fav team, Miami Hurricanes…back in 95-96 or so
Yeah Jason, I consider the matter done and will do my best to make sure it doesn’t happen again.
The only reason I feet Slice likely has the right to it is because he had it before signing with EliteXC and may even have it trademarked. The reason the WWE has a right to some wrestler’s names is because they build them up as a brand, whereas Kimbo was known well before EliteXC.
That could be I guess –
I just wonder what will happen to him, I mean…if he received proper ground training…MAYBE he could be good – he has powerful punch, but gases worse than Travis Lutter…
I would have loved to see him in the house for UFC’s next reality show with heavyweights…but I am sure he will head to japan – then maybe to Affliction – Trump can’t resist someone who has a big name and a big draw – no matter if he sucks or not – IE Tito….. That is where I think Tito will head, unless he goes to StrikeForce so he can look dominate again, but I doubt it
It seems to me when a company dies so does all of it’s contracts, therefore fighters can freely pursue employment, i really fail to see what is worth fighting over in this case. Like Vultures fighting over a dead carcass…it’s dead, c’mon.
Jason
Tito could end up at Strikeforce very true with him being a Californian and obviously a big name and it also could be a good bargaining tool for Strikeforce getting a National TV Deal having such a big name in MMA wasn’t they in negotiations with someone recently ?
who knows – but with the tv deal that would obviously lead to big money they can use to lure him in..and maybe the bigger named fighters from Elite..like Shields, Smokin Joe, Lawler and Brett Rodgers…. though I see Shields and Lawler going to the UFC – Rodgers might want in StrikeForce so he can beat Southworth for the belt – that is, if he still has it….
I would love to see Lawler and Smokin Joe go to the UFC, then add Kang, Chael Sonnen, Fihlo, etc….finally making middleweight look deep! Hopefully also keeping Silva from retiring!!
Jason, i just dont like Lawler v Villasenor II no matter the venue….. i too think that Sheilds will end up in the UFC, Lawler and few others as well…. im not sold on Rodgers but he could end up there hell Sanchez did.. Babalu is going to destroy Southworth (crossing fingers) and with Rodgers being a HW i dont see him and Southworth fighting for the LHW title at all unless Southworth comes up in weight…
You forgot about KJ noons FR.
Goodness really? Noons huh? Don’t quite know about that but thx for reminding me
Americans understanding of sarcasm is funny in and of itself. Let’s just leave it at that. That Dbiz guy is a raging moron on these boards. Good for a laugh.. even funnier when he gets serrrrious.
Why so serrrriousssss? I may be the only one who makes jokes here kthnx <— adding a LAWL so you get the joke big guy. BTW.. lawl is interchangeable with LOL.. just to make sure, sure you get it ok so serrrrious?
It’s MMA and I want to flex my mmafrenzy.com epenis.. lawls. I mean look at the guys avatar.. best joke on the site.. period.. I mean what is that.. a fat guy that got so excited while dressing his hot dog at the ball park he squeezed the ketchup bottle so hard it exploded on him?
God damn. Get raped.
haha was just joking! i’m not that stupid :S
Bad move on the personal attack on DBiz, vinz.
Jason,
You got slammed because you made a joke on a point that wasn’t even relevant. If it had been relevant your joke would have been appreciated. Also, I think that Filho is worthless until he gets his head on straight, the fight Wednesday was terrible.
OMGGGGG I shakes in internet related pheeeeeeeeearrrrrrrrrr
I just hope he dosn’t spray me with mustard.. god save me if he crys to a site admin regarding him starting **** in a thread and me finishing it.
I could see that now…
DBetc “Hi admins I has been made a funs of in a comments please make with banstick”
Admin “Um.. I read that thread.. you’re actually a douche bag.. actually you’re quite a douche bag to any member who hasn’t been posting for quite some time.. sorry but we’re trying to build a community.. maybe you should go cry your teams on your moms apron.. kthnx bye.”
Now I’m done. Ethuggery sequence ended.
Now now boys, can’t we all just get along?
I enjoyed the Ethuggery mention
Vinz, please just go back under your bridge. Thank you.
I hope Southworth puts a choke on Babalu and holds it a couple seconds. That would be sweet to see.