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HDNet Looks To Purchase IFL’s Assets in Fire-Sale


(Remember the good times. Photo courtesy of DayLife.com.)

Despite a less-than-attractive sales pitch, it seems like the bankrupt IFL has found a sucker to buy its kinda worthless video library. From biz.yahoo.com via Fightlinker:

On September 19, 2008, IFLC filed with the Court a motion for orders (a) authorizing IFLC to sell all or substantially all of its assets to HDNet LLC (“HDNet”), subject to higher and better offers, (b) approving bid procedures, (c) scheduling auction and sale hearing and (d) granting related relief (the “Sale Motion”). In connection with the Sale Motion, on September 19, 2008, IFLC and HDNet entered into an asset purchase agreement (the “Asset Purchase Agreement”), which contemplates the sale of substantially all of IFLC’s assets (the “Purchased Asset”) to HDNet for total consideration of $650,000 in cash and the assumption by HDNet of certain liabilities of IFLC. The Asset Purchase Agreement is subject to higher and better offers as set forth in the Sale Motion…

A hearing to consider the Sale Motion is scheduled for October 10, 2008 at 10:00 a.m. (prevailing Eastern time).

$650,000 is a drop in the bucket compared to the IFL’s total losses, but it’ll be enough for Jay Larkin & Co. to pay the lawyers, fly somewhere tropical, and lay low for a while. It’s hard to imagine they’ll get any “higher and better offers,” which means HDNet is about to add another peg to its MMA broadcast kingdom. Sweet — does this mean an “Ultimate Roy Nelson” HDNet special is on the way?

Semi-related: HDNet’s broadcasts of DREAM events have been great for American insomniac MMA fans, but unless DREAM gets its ratings up in its own country, they could be heading for an IFL-style extinction. As MMA Mania reports:

DREAM has underperformed in all three of its contracted four television events, prompting FEG’s Sadaharu Tanikawahas to consider dissolving the company if they eventually lose their television contract. With their inability to hit their target numbers, it almost seems like a foregone conclusion…

FEG had plans to hold its fourth televised event on New Year’s Eve. If you’re a fan, I suggest finding a way to watch it. It could be the last time you see mixed martial arts in Japan.

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Anonymous- September 24, 2008 at 10:56 pm
Sir n00bSaLot sez:

"anti-Anglo-ameriphiles (should be a word)"

Agreed. Consider it done. I'm surprised it hadn't happened sooner.

I'll admit that I'm a "Johhny-come-lately" as far as Japanese MMA goes. I've been catching up on Pride FC via NetFlix. (Bushido: 1 is spectacular, I've watched it 7 times, Body Blows was great too: Hendo rules) That being said, yeah, I was under the impression that MMA was more popular in Japan, right Trigg?

What's the deal?

I guess my next question would be: "How po[ular is the UFC in Japan?"

Is the UPC stealing the market?

I gotta admit, the Japanese know how to put on a show when it comes to MMA
Sir n00bSaLot- September 24, 2008 at 10:25 pm
Forget how much the IFL's tape library is selling for, how much will Jay Larkin sell Tiffany Fallon to me for?

Also... please don't tell me that the highly knowledgeable Japanese fanbase that is so revered by the hardcore American MMA audience somehow has lost interest in MMA? For such a well-educated, respectful fanbase, how can they turn their backs on the sport that every Middle-America-hating MMA fan knows for certain that they adore? I mean, didn't they once fill the Tokyo Dome with 90,000 fans that were all intimately aware of every aspect of the ground game? They are just so much better than the bloodthirsty, knuckle-dragging ignoramuses over in America, how can they give up on the sport that we know is considered fine art in their much more sophisticated culture?

Could it be that these incredibly knowledgeable Japanese fans never knew more about MMA than Joe Six-Pack in Po Dunk, Kansas, and in fact, were just showing up to watch Bob Sapp vs. Akebono the whole time? Never!

Japanophiles everywhere must be in tears. Or perhaps, they were never much Japanophiles to begin with, but rather were simply anti-Anglo-ameriphiles (should be a word) the whole time. Either way, MMA is centered in America for the forseeable future, so suck it, you pseudo-sophisticates and elitists!!!

USA!!! USA!!! USA!!!
NealTaflinger- September 24, 2008 at 8:26 pm
They should put the Hex on eBay. It would be a shame if DREAM died. How did PRIDE thrive for so long? If FEG goes under you can bet that Lorenzo-san will be on a jet to Saitama within hours to start greasing the wheels for a UFC show there.
MMANewbExpert- September 24, 2008 at 8:22 pm
I was only a casual MMA fan until around the time the first season of TUF came out and then got much more into it. I didn't really know much about Pride at that point and little about it since (the only stuff I know about is the stuff Frank Trigg's TV show told me about it).

I was under the impression that MMA was bigger in Japan then it was in the US. That Pride was as big or bigger in Japan then the UFC is in the US. I could be wrong on that of course but if that's the case, and the biggest MMA company in Japan died (not from lack of popularity) it would seem logical that a new company would be able to succeed. My assumption is that right now in the US. If the UFC died then a promotion like EliteXC or Affliction would be able to pick up the pieces on some significant level.

Dream shows were actually pretty decent as well (as opposed to EliteXC which are stupid) so it shocks me that for a country I thought was bigger into MMA then we were, that a decent promotion like Dream can't stay afloat.

I'm making a lot of assumptions here, any one of which can be completely wrong. Feel free to correct me if that's the case.
leo laporte- September 24, 2008 at 7:55 pm
Please dont use morons who retread what they read when talking about japanese MMA.

Zack Arnold has the BEST article on this subject on this.

Nothing I have seen online comes even close.
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