UPDATE (by Kris Karkoski): SI.com’s Josh Gross confirmed with ProElite CEO Chuck Champion on Thursday that Strikeforce has finalized its purchase of select ProElite assets.
According to the report the deal includes:
With Strikeforce:
- Strikeforce and ProElite agree to a limited asset purchase, including some fighter contracts and options for additional fighter contracts
- Strikeforce obtains library footage for EliteXC events
- Strikeforce obtains licensing of the ShoXC brand name
With CBS:
- Paid off debt to CBS/Showtime
- Showtime remains a partner with ProElite, same ownership stake
“Moving forward ProElite will not dissolve, as was previously expected. The company will continue promote MMA events, primarily under the King of the Cage brand, though it still owns the rights to EliteXC-branded events. ProElite has a television deal with Fox Sports that needs renegotiating for previously-taped fights. It has yet to be determined what it will do with other promotional brands.”
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Rumors began circulating yesterday that ProElite had finally been sold to Strikeforce, and that an announcement would be forth coming. But, Strikeforce executive Mike Afromowitz told MMAInsider “Any reports of a done deal are a complete fantasy.”
Numerous buyers have been rumored since this Saga began with ProElite’s demise in October, but recently it seems that California based Strikeforce has become firmly planted in the front runner position. The deal is complicated by numerous factors, including fighter contracts and TV deals. It is rumored that if the purchase actually takes place, select fighter contracts, as well as the CBS and Showtime television deals will be one of the products purchased. Strikeforce already has a contract with NBC to show pre-recorded fights in a half hour format, but as yet have not secured an arrangement for live TV.
Afromowitz had this to say, regarding the details of the sale, “It’s complicated, and that’s why I don’t want to speculate. If anything is done, it will be very technical. It’s not as straightforward as you think.”
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This is VERY good news.
Hopefully something can happen because way too many fighters are in limbo right now.
Only makes sense really . They co promoted a few times and have the fighters already to match up with elites best . A nick diaz vs josh thomson bout would be good . If they get Robbie lawlers contract I could see a trade off with the UFC for a few guys .Or they keep him and set up the Le /lawler showdown . Plus the live TV time would be a huge step for strikeforce . Add in the ladies division boost with carano and Christine , it gets better and better . Good news indeed .
It’d be nice to see this work out soon. I know a lot of the fighters stuck in their contracts are struggling right now because they cannot fight or sign another contract until they have a home or are released. Be a good thing for strikeforce though! They typically put on good shows.
I would like to know what fighters are going where. I find it interesting that they only bought certain assets, and not the whole company, but I don’t blame them for that.
i would like to volunteer to “grease” Gina Carrano.
:)
One of the funnier quotes I’ve read so far.
Please sell Le to the UFC – maybe a trade for a couple up and comers? What do you guys think? Who would you trade?
Another MW that only fights once a year.
Unless Le shows a commitment to the sport, he won’t be in the UFC.
Is it possible now that we can see some great female fighters like Cyborg against that gorgeous yet deadly American girl…cant think of her name.
Are you joking? Ha Ha….well it is Gina Carano if you are not.