Sherdog first reported the cancellation earlier today.

The AFL has made headlines in 2008 by signing free agents LaRosa, regarded as MMA’s top female talent, and former professional wrestler Bobby Lashley to lucrative contracts and also pursuing former UFC light heavyweight champion Tito Ortiz. However, the promotion has struggled of late, recently postponing a scheduled November pay-per-view event and today pulling funding from the featured women’s bout due to sponsorship and investor difficulties.

“I’m feeling pretty numb about it, to be honest,” Modafferi told Sherdog. “It’s funny, because a few weeks ago when I heard the stock market crashed and the economy was going down the tubes, I thought, ‘Damn it, I bet my fight is going to get canceled.’ So in a way, I’m not surprised. I just want to fight, and I feel like I’m back to square one,” Modafferi continued. “I’m trying to get on the new Japanese event [GCM's Valkyrie] on Nov. 8, but there’s nobody my weight here in Japan, so I don’t think it’s going to happen.”

Despite the cancellation of LaRosa-Modafferi, AFL featherweight Raphael Assuncao may still remain on the November card.

LaRosa (14-1) will rematch with Modafferi (12-4) on the November card. LaRosa defeated Modafferi via decision in their first meeting in 2006. Since then, LaRosa has won seven-straight, including wins over Julie Kedzie, Shayna Baszler, and Kelly Kobald, while Modafferi has won six of her last seven fights including winning the K-GRACE openweight tournament.

The key women’s matchup was originally slated for the AFL’s November PPV debut event which was recently pushed back.

Assuncao (11-1), a submission specialist, will take on Joe Pearson (30-11-1) at the Chicago event. Assuncao has won three straight bouts following his first career loss to Jeff Curran in late-2006. He holds notable victories over Joe Lauzon and Jorge Masvidal. Pearson, who trains out of Miletich Martial Arts, is also a submission specialist who had won four-straight before being knocked out by Bill Kamery earlier this month.

The full card for the Ironheart Crown XII features:

• Gideon Ray vs. Juan Magana
• Raphael Assuncao vs. Joe Pearson
• Tara LaRosa vs. Roxanne Modafferi
• Tommy Lee vs. Charles Wilson
• Matt Fiordirosa vs. Rob Menigoz
• Achour Esho vs. Josh Lee
• Brad Fonck vs. Nick Janowitz
• Louis Taylor vs. Adriel Villa
• Mustafa Hussaini vs. Antonio Canas
• Jeff Serafin vs. Chris Albandia
• Ricardo Lamas vs. Christopher Martins
• Derek Langone vs. Tony Marti
• Joey Benoit vs. Keith Smetana

• EliteXC Live Events President Gary Shaw may be on his way out of ProElite, though reports from his son, Jared Shaw, contest otherwise.
• UFC veteran Ken Shamrock has called for a rematch against Royce Gracie, who may or may not serve as Shamrock’s final opponent.
• The UFC has made the undercard bout between Dustin Hazelett and Josh Burkman available for free viewing on UFC.com. Hazelett earned submission of the night for his super slick armbar.
• “Big” John McCarthy and Mauro Ranallo have been announced as the broadcast team for Affliction “Banned.” This could help explain McCarthy’s previous public statements regarding the UFC’s competition with the Affliction show.
• UFC veteran Jeff Monson has called out Kimbo Slice via an almost-comical YouTube video.
• Brock Lesnar has been rigorously training with seven time BJJ world champion Rodrigo “Comprido” Leite Medeiros for his upcoming bout with Heath Herring at UFC 87.
• Current Strikeforce middleweight champion Cung Le is leaning more towards an acting career and less towards fighting, according to a recent interview.
• CB Dollaway has stated that he did not “fully commit to the tap” regarding his stinging TUF 7 finale loss to Amir Sandollah.
• Last week UFC veteran Matt Hughes settled out of court on “battery and assault” charges, which stem from an incident that transpired nearly two years ago at UFC 64.
• Dana White said that he feels republican John McCain is the “best presidential candidate for MMA.”
• MMA journeyman Shonie Carter said in a recent interview that his stint on “The Iron Ring” has helped to get “people knowing the minorities in MMA.”
• Affliction has revealed that they are planning events for October and February.
• Paul “Semtex” Daley will return to competition following a six-month retirement to take on Bojan “Zelva” Kosednar at Cage Warriors “Enter the Rough House 7″
• Despite losing her professional debut and suffering a broken jaw that will require surgery, the AFL remains interested in signing Kim Couture to bolster its Women’s division.
• Ken Shamrock’s nephew, lightweight Jeff Shamrock, has signed with Strikeforce.

The American Fight League has signed former WWE wrestling star Bobby Lashley to a multi-fight contract, demarking the beginning of his mixed martial arts (MMA) career. The official announcement was made in front of a full crowd in Atlanta during the AFL: BulletProof event held at Philips Arena on Friday, May 30.

Since announcing his exit from professional wrestling there have been murmurs that the goliath-like Bobby Lashley would be making a move into MMA. Long anticipated and much speculated, the signing of Bobby Lashley to fight in the American Fight League will finally put all the rumors to rest. Bobby’s entrance into the cage is sure to bring a new level of excitement to the MMA world as he competes in the heavyweight division, one known for its hard hitting brawlers and dramatic knock downs.

“I’ve been looking to switch to MMA for quite some time but wanted to make sure the move was with the right organization. It wasn’t until I started talking with the American Fight League that I found where I wanted to begin the next chapter in my career,” said Lashley. “I love the AFL’s vision. They aren’t interested in running a circus but rather want to produce quality MMA events with legitimate athletes. The more I spoke with BJ Santiago and Jon Hatton, the more I knew that the AFL would be the best outlet for me to show the world what I can do in the ring. I think we are going to be a great fit, and I am excited about my first fight.”

American Fight League CEO BJ Santiago could not be more pleased with the Lashley signing. “There’s no question that this is an enormous signing for the AFL,” said Santiago. “Bringing athletes like Bobby Lashley on board shows the world that we are very serious about signing top talent to our roster.” Santiago added, “Bobby is an incredible competitor with a lot of star power and charisma. Fans love him. I believe he will be a great ambassador for the AFL and the sport of mixed martial arts.”

Joining the AFL will mark Lashley’s entrance into the sport of competitive MMA. With a long history in competitive wrestling, MMA is a natural progression for the championship level athlete. He attended Missouri Valley College where he was a three-time National Amateur Wrestling Champion and four-time All-American. Lashley went on to join the United States Army where he continued to wrestle and was a two-time Armed Forces Champion and a 2002 Silver Medalist at the Military World Championships.

In November 2003, Lashley began a career with the World Wrestling Entertainment (WWE) where he stayed until early 2008. Lashley’s athleticism, magnetic personality and commanding presence quickly placed him as one of the WWE’s most popular wrestlers, garnering him a loyal worldwide fan base. He defeated numerous wrestling stars and earned two pro wrestling heavyweight titles.

The championship bout was just one of three title bouts on the fight card but it was two major signings announced by the upstart promotion that are truly making headlines.

Former WWE professional wrestler Bobby Lashley and top women’s MMA fight Tara LaRosa have both signed with the AFL and will be in action on the promotion’s October PPV card. Their opponents for the event have not yet been announced.

In other notable bouts UFC veteran Diego Saravia defeated challenger Josh Cate via first-round TKO to retain his AFL lightweight title, George Lockhart defeated George Allen to win the AFL middleweight championship, Torrance Taylor upset UFC vet Junior Assuncao via unanimous decision, and UFC veteran Dan Christison n submitted opponent Sam Holloway 50-seconds into the opening round.

AFL “BULLETPROOF” RESULTS

• rent Weedman def. Douglas Lima via submission – Round 2, 4:39
• Torrance Taylor def. Junior Assuncao via unanimous decision
• Diego Saraiva def. Josh Cate via TKO – Round 1, 1:34
• George Lockhart def. George Allen via unanimous decision
• Dan Christison def. Sam Holloway via submission – Round 1, 0:50
• Ethan Garrison def. Willie Smalls via submission – Round 1, 4:38
• David Curby def. Robi Ramey via TKO – Round 3, 3:10

The event takes place on May 30th at the Phillips Arena in Atlanta, Georgia.

Saraiva, an Atlanta native, came to the UFC with a 9-3-1 record in early-2007 but lost all three of his bouts against Dustin Hazelett, Jorge Gurgel, and Jeremy Stephens. After leaving the promotion Saraiva posted back-to-back wins over Poppies Martinez and Joe Ammerman. He won the AFL’s lightweight title in March with the first-round submission win over Ammerman. Saraiva was in action just last week, losing via unanimous decision to Brian Cobb at PFC 8.

“Josh is a phenomenal athlete with a misleading record. He has really improved since the beginning of his pro career,” said Saraiva in a press release announcing the event. “He is one of those fighters that on any given night he could beat you if you aren’t careful. Don’t mistake what I am saying here. I am keeping this championship and I hope he knows it. I won’t give it up, especially not in front of my hometown crowd. I have a lot of fans, friends, and family that are going to be there and I am going to put on a good show. If he thinks his jiu-jitsu is better than mine, well I am sorry he is making that mistake. I have been training hard with Junior and Rafhael (Assuncao) along with Douglas (Lima) and Rory (Singer). They have been pushing me harder than ever before.”

Despite having an underwhelming professional record, Cate in a jiu jitsu black belt under former-UFC fighter Hermes Franca. He enters the lightweight title fight as a loser in 4 of his past 5 fights, but hasn’t fought professionally in over two years.

“I have wanted this fight for so long just to prove that I am one of the best jiu-jitsu guys in the game,” said Cate in the release. “Diego is amazing, no doubt about that. The problem is that for various reasons, unknown to me, it couldn’t happen. I’m not saying he’s been ducking me or anything, by any means. I’m just tired of walking about it now. It’s time to get after it. I wouldn’t care if this fight was in Philips or my backyard. It just needs to happen.”

Eight bouts, including three title fights, are scheduled for the May 30th event. Two marquee signings will also be announced at the event and the new fighters will be present to sign autographs.

AFL: BULLETPROOF OFFICIAL FIGHT CARD

• Junior Assuncao vs. Torrance Taylor
• Diego Saraiva vs. Josh Cate
  AFL Lightweight Championship
• Dan Christison vs. Sam Holloway
• Douglas Lima vs. Brent Weedman
  AFL Welterweight Championship
• George Lockhart vs. George Allen
  AFL Interim Middleweight Championship
• Robi Ramey vs. David Curby
• Todd Duffee vs. Steve Banks
• Ethan Garrison vs. Willy Smalls

“Its an amazing opportunity for the AFL. I know that other MMA organizations, big ones were turned down so we feel especially grateful to the folks at Philips Arena for allowing us in. The Georgia Athletic and Entertainment Commission has been very helpful to us. We have their support and they know that they fully have ours. Its just a great opportunity for us to give back to another city in America and help mixed martial arts wipe a little more of the bad stigma off it’s face in the process”.

BJ continued, “We tentatively have several charity events planned around that event and some of those involve hip-hop artists and former NFL players. This is all awaiting approvals by the Georgia Athletic and Entertainment Commission, but will happen once the paperwork clears”.

The event will feature some familiar names along with some of the local legends of Atlanta. Marketing Director Sean McClure offered up as much info as he is currently allowed to give.

“We have athletes in our organization that are from that area and would give up a body part to get to fight in Philips Arena. Its one of those arenas that you dream of competing in when you are a kid. There is no better venue than Philips. It’s going to be spectacular I can tell you that”.

Partnering with the American Fight League is long time friend and owner of Bullet Fight Gear, Tony Metcalfe. Chief Production Officer Jon Hatton spoke highly of Tony and what he contributes to the AFL.

“Tony has been the biggest supporter of the AFL outside of our core team since its inception. He is also one of our biggest associate promoters and certainly in the top 3 that are on board with us, if not number one”.

The AFL will announce the full bout card shortly.