Well this should come as no shock to anyone
http://sherdog.com/news/news/elitexc-nov-8-event-pro-elite-on-rocks-14860
EliteXC “Night of Champions,” scheduled for Nov. 8 at the Reno Events Center in Reno, Nev., is in jeopardy of cancellation as the promotion heads into what may be its final days of business, Sherdog.com has learned from numerous anonymous sources.
Nevada State Athletic Commission Executive Director Keith Kizer said he had not received word that the event would be cancelled as of Monday afternoon, though Sherdog.com was told by a source that some, if not all, of the fighters scheduled to compete on Nov. 8 have been notified that the event may not take place due to a lack of funding.
A notice posted Monday evening at graciefighter.com read, “We are confirming that EliteXC has folded. What this means for our fans and supporters is that there will not be a Nick Diaz vs. Eddie Alvarez fight on November 8th.”
Graciefighter.com is operated by representatives of Diaz’s camp, who was slated to face Alvarez for the vacant EliteXC 160-pound title.
Representatives from Pro Elite, the parent company of EliteXC, did not return calls Monday.
Pro Elite, which has accrued $55 million deficit during its two years of operation, had been in need of a helping hand in recent months.
On Sept. 17, Showtime Networks filed public notice with the U.S. Securities and Exchange Commission announcing its intention to enter preliminary negotiations for the purchase of the fledgling company.
Showtime, a subsidiary of the parent conglomerate CBS Corporation, already has broadcasting deals with the Los Angeles-based company on both its premium cable channel and CBS. Showtime also has a 20% ownership stake in Pro Elite.
Discussions of Pro Elite’s purchase were said to have gone well and a deal looked imminent as of two weeks ago when EliteXC held it’s third installment of “Saturday Night Fights” on CBS. The Oct 4. event, which was funded entirely by Showtime, drew 4.56 million viewers, which almost matched their initial May offering on the network.
But negative press surrounding questionable comments made by Seth Petruzelli, who substituted in the main event against Kevin "Kimbo Slice" Ferguson last minute, have overshadowed the ratings success. Petruzelli intonated on a Monday morning talk show that promoters had given him added monetary incentive to stand with the less ground-savvy Slice.
http://sherdog.com/news/news/elitexc-nov-8-event-pro-elite-on-rocks-14860
EliteXC “Night of Champions,” scheduled for Nov. 8 at the Reno Events Center in Reno, Nev., is in jeopardy of cancellation as the promotion heads into what may be its final days of business, Sherdog.com has learned from numerous anonymous sources.
Nevada State Athletic Commission Executive Director Keith Kizer said he had not received word that the event would be cancelled as of Monday afternoon, though Sherdog.com was told by a source that some, if not all, of the fighters scheduled to compete on Nov. 8 have been notified that the event may not take place due to a lack of funding.
A notice posted Monday evening at graciefighter.com read, “We are confirming that EliteXC has folded. What this means for our fans and supporters is that there will not be a Nick Diaz vs. Eddie Alvarez fight on November 8th.”
Graciefighter.com is operated by representatives of Diaz’s camp, who was slated to face Alvarez for the vacant EliteXC 160-pound title.
Representatives from Pro Elite, the parent company of EliteXC, did not return calls Monday.
Pro Elite, which has accrued $55 million deficit during its two years of operation, had been in need of a helping hand in recent months.
On Sept. 17, Showtime Networks filed public notice with the U.S. Securities and Exchange Commission announcing its intention to enter preliminary negotiations for the purchase of the fledgling company.
Showtime, a subsidiary of the parent conglomerate CBS Corporation, already has broadcasting deals with the Los Angeles-based company on both its premium cable channel and CBS. Showtime also has a 20% ownership stake in Pro Elite.
Discussions of Pro Elite’s purchase were said to have gone well and a deal looked imminent as of two weeks ago when EliteXC held it’s third installment of “Saturday Night Fights” on CBS. The Oct 4. event, which was funded entirely by Showtime, drew 4.56 million viewers, which almost matched their initial May offering on the network.
But negative press surrounding questionable comments made by Seth Petruzelli, who substituted in the main event against Kevin "Kimbo Slice" Ferguson last minute, have overshadowed the ratings success. Petruzelli intonated on a Monday morning talk show that promoters had given him added monetary incentive to stand with the less ground-savvy Slice.
hno:
