From Dave Meltzer at Yahoo Sports...The Elite XC folks will all be looking for work at the end of the week.
Elite was, by some reports, as much as US$55-million in the hole after a bad TV deal in year one of their existence with Showtime, and purchasing four other rival companies. Those losses would have forced Elite, eventually, to sell to Showtime or declare bankruptcy.
“I got a call earlier [Monday] telling me they were shutting down,” said Frank Shamrock, who was a television commentator, a main event fighter and a shareholder in the promotion told Meltzer.
UFC Poohbah Dana White has already said he wouldn't go anywhere near Kimbo Slice ((pictured, thanks Vancouver Sun/Stephen Shugerman-Getty Images)), but he may have to re-think his plan on female fighters like Gina Carano.
More from Meltzer:
"The Elite XC sale was believed to be close to completion heading into the Oct. 4 show on CBS. The show was a ratings success, beating both Major League Baseball playoff games and both major college football games in the target male 18-49 demographic, but left the brand tainted due to a controversy stemming from the main event.
CBS funded the event because Elite XC didn’t have the money to continue while negotiations for the sale continued."
Then, Seth Petruzelli went and opened his mouth on an Orlando radio station that further increased the credibility questions of Elite after the Slice upset... that didn't help, either...
“The promoters kind of hinted to me and they gave me the money to stand and trade with him,” Petruzelli said two days after the fight on “The Monsters in Orlando” radio show. “They didn’t want me to take him down.
“Let’s just put it that way. It was worth my while to try and stand up and punch with him.”
Elite XC, we hardly knew ye... but it does give us one more excuse to show the Slice-Petruzelli fight and hear Gus Johnson go... well, All Gus Johnson on us again...
((HT: Elite XC/CBS/the youtube))
