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Pro Elite/EliteXC Days Away From Folding; Nov. 8th Show Cancelled

(Well, it was fun while it lasted. Photo courtesy of Esther Lin.)

Multiple MMA news outlets are reporting that due to its insurmountable debt and failure to find a buyer or major funding, EliteXC will go out of business this week, and their Showtime event scheduled for next month has already been canceled. From Sherdog:

Joey Villasenor, who was slated to challenge Robbie Lawler for the EliteXC middleweight crown in Reno, was informed of the show’s cancellation Monday evening.

[Icon Sport founder] TJ Thompson, a Pro Elite executive, said he’d been informed Monday morning by the company that it was closing its doors for good this week and that bankruptcy paperwork had already been filed…

A notice posted Monday evening at 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.”

In an interview with MMA Weekly, Thompson said that Showtime’s rumored deal to buy EliteXC was sunk by the controversy of their last event — and the controversy was more than warranted:

“I think (CBS) got cold feet watching. The way the Ken Shamrock pullout was handled, all the way from the beginning to the end with Seth Petruzelli. Watching Jared Shaw jumping up and down and screaming as a representative of the company, I think was disgusting and embarrassing…

I don’t have a smoking gun, (but) I’ve been around long enough, I’ve talked to enough people that were there, I won’t name names of executives in the company that I know — Seth was paid to stand up. I’m confident of that. If the commission wants to talk to me, I’ll tell them what I know.”

Thompson believes his company and other MMA promotions under the Pro Elite banner are destined to languish in bankruptcy court, along with EliteXC’s fighter contracts. On Tuesday, he will meet with his lawyers to determine whether it’s possible to free Icon Sport from its parent company. He’s not overly optimistic.

“(The promotions are) there for creditors to go after, really,” he said.

MMA Weekly also reports that EliteXC has already begun laying off employees, cleaning out its corporate offices, and trying to sell off their fighter contracts and satellite promotions. According to one prevalent rumor, CBS may try to form a new relationship with Affliction in the wake of EliteXC’s implosion.

And finally, FiveOuncesofPain adds a new wrinkle to the Seth Petruzelli knockout bonus scandal that may still come to light if the Florida Boxing Commission continues their investigation of EliteXC:

[S]eparate sources informed Five Ounces of Pain last week that there was also a possibility that a deal had been struck preventing Petruzelli from using “Thai-style kicks on Slice, since he had not prepared for them leading up to the fight.”

Many more details should emerge soon; we’ll keep you posted

Cagepotato Comments

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cr_trinity- October 22, 2008 at 4:54 am
What's the bet that UFC Fan is some pimple faced little retard who lives off of welfare and the joy he gets from acting like a big shot on the Net?

10-1 For

And little grade school fucks should really stop parroting whatever the fuck Mr Dana White says; he's not the real fucking boss of UFC. He's just the front man.

And where the fuck are all of those Kimbo fanboys now? Speaking about his humility and shit... Idiots. And I bet there are still plenty of Slice Cocksuckers out there still.
UFC fan- October 22, 2008 at 2:21 am
I hate this "I don't want UFC to monopolize the MMA scene".
I hope like hell they all fold, I don't feel like some of you pansys, I hope like hell they all go under, and UFC owns em all. I think its best if the BEST own the rest.
I don't want to see any other organizations compete against NFL...or NBA, they have no competition, because they are the best and its GREAT for their sports, so fuck all this whiny shit....the best own the rest, everyone else is just a poser wannabee.
Clyde- October 21, 2008 at 11:26 am
While they did have the same understanding of the sport as the average idiot in my office, it will suck for fighters if there's only one major organisation.

But there will always have to be small shows for MMA because it's not like the UFC is interested in people with 2-0 records (Brock Lesnar not withstanding) but if the sport doesn't get some network TV coverage, it'll never get as big as it deserves to be.

Hopefully, they'll give the airtime to WEC, a brand that's trying to build fighters and puts on matches that matter and entertain.
Dana White's baby-smooth nutsatchel- October 21, 2008 at 4:03 am
So, fucken guys. Where's your fucken great fucken elite fucken xc now? They treat their fucken fighter so fucken great huh? Fuck. They put all of their fucken pussies in one fucken basket, (Kimbo fucken Slice), and fucked over any of their fucken legitamate fucken fighters. Don't fucken look so fucken bad now, fucken do fucken I? fuck
@ doc roc- October 21, 2008 at 4:00 am
His mom gave it up after 1/2 a beer? Was this before or after you were watching a fucken shittyass news show that no one cares about? When did you have time to formulate your comments for cage potato, signifying how great you are that you found out about this before a few other people?
Phunnybonz- October 21, 2008 at 2:17 am
This really sucks for the sport. As much as I hated EliteXC as an organization, this is the worse thing that could have happened. Well maybe not the WORST thing, but still. All you CagePotato knuckleheads better be praying Affliction doesn't fold too.

If UFC is the only show in town then the fighters and the fans will lose, not that I don't appreciate what UFC has done for the sport. I just don't want them to monopolize it.
Mr Josh- October 21, 2008 at 1:24 am
'Danas erection just hit me in the side of the head!' So what fighters do we think Dana will try to pic up?
Mikill- October 20, 2008 at 10:06 pm
Tito is now scheduled to fight his next opponent, cumming soon!!!
Tito has now confirmed he will fight the hideous ,alien-faced Jenna "The Leashmaster" Jamison" on Affection ppv.It's a fight to the death with the winner getting half of her ASSets.
the agressor- October 20, 2008 at 8:03 pm
Any corp that would want to market around a guy like kimbo deserves there demise. ring, cage fighting all is formed around some martial arts style or many and they all have many common attributes and respect is one of them. gettho, thug and backyard brawling isn't part of that form.
its time for the elite group to stand up and face a higher caliper talent pool. i like gina but i would like to see her matched up with cyborg. i fight amateaur and i always want to fight guys with the same record or better so that i can be pushed to the limits.

dana white- October 20, 2008 at 7:40 pm
elite down, one more to go
UFC fan- October 20, 2008 at 5:20 pm
"another one bites the dust..and another ones gone, and another ones gone,...another one bites the dust, yeah!"
BDIZZLE- October 20, 2008 at 4:42 pm
UFC is about to grow much larger.

Ready for Kimbo Slice vs Brock Lesnar?? Well I guess that match will suck if Lesnar gets Randy.

So much for good ol Tito.... lol lol lol

Dana White has to love this.
Alex- October 20, 2008 at 4:23 pm
This shit is crazy!!!
pookysdabomb- October 20, 2008 at 3:55 pm
Nick Diaz to the UFC.....put him in there VS. Kos, Karo, or Sanchez again!
Doc Roc- October 20, 2008 at 3:50 pm
Lol, good for you, you’re one of the 10 people who watches that channel, you got the news a whole 10 hours before us, what a lucky guy…

I'm lucky alright.. Your mom gave it up after 1/2 a beer!! The bitch wasn't even worth it!
sarcasm- October 20, 2008 at 3:45 pm
how in the fuck could this happen?
Olie- October 20, 2008 at 3:21 pm
What do you gents think of Cage Rage?
Acrocerid- October 20, 2008 at 3:12 pm
Dear Gary and Jared Shaw,

I hope (though I doubt) that you will see this. If you do, just know that I...a nobody who posts on MMA blogs is laughing at you. A lot.

Later bitches.
trey- October 20, 2008 at 3:00 pm
Good for you guys.

Now you can put all your effort into sucking Donna White's cock for all its worth.
Massiveamounts- October 20, 2008 at 2:50 pm
Anyone could see this coming a mile away...fuck the Shaws with their promoting tactics along with the financial understanding of M.C Hammer have sunk a great idea...getting MMA on network t.v....don't think CBS is looking to swoop up Affliction anytime soon, and they don't have that long without other financial backers. This is insane for anyone to think this was something good for mma, sure we're rid of kimbo and his hype train, rid of $kala the douche, rid of elite....but we're also rid of the possibility of seeing great fights on network t.v....this episode of complete stupidity will scare the shitcakes out of any network thinking of singing a contract with any mma promotion. It's a sad sad day in the world of mma, not because elite's gone but the way they wiped their feet on mma and network t.v on the way out.
Anonymous- October 20, 2008 at 2:29 pm
There's nothing like going massively into debt to overpay an unproven fighter and then not be able to make good on that loan while the washed-up fighter is rolling in his money.
geoff- October 20, 2008 at 2:23 pm
hopefully affliction jumps on this like they did with the IFL and take some of the good fighters. im gonna go ahead and guess kimbos mma career is done!
Old, Bald and Irish- October 20, 2008 at 2:21 pm
What does this mean to Strikeforce? Are they linked finacially to EXC, or were they just partnering with them?

"Hey, Cung Le! Pick up the phone!"

"Some guy with a chick name, 'Dana', wants to talk to you!"
McGraw- October 20, 2008 at 2:19 pm
back to for kimbo
theKnappyOne- October 20, 2008 at 2:18 pm
I'm pumped to see some of the EXC fighters come to the UFC. But I'm upset that there won't be a mainstream women's division..