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ProElite Opens the Books

GS
(Gary Shaw: “The soup, salad, and breadsticks are on me.”)

Following in the footsteps of the floundering International Fight League, ProElite released its 10-K annual report last week, which revealed that even though EliteXC’s CBS deal might turn their fortunes around, things are still tough all over in the MMA world. Some highlights:

— ProElite has lost $31.3 million through 2007, including $27.1 million in 2007 alone.

— The company generated $5.3 million in revenue last year, including $4.6 million in live gate revenue and $447,679 in television and pay-per-view revenue.

— ProElite spent $9.6 million on events in 2007, including $2.9 million in production costs paid to Showtime. The company actually received no license fee from Showtime last year and absorbed all the production costs. ProElite will be receiving a licensing fee this year, however, reported to be between $50,000 (for ShowXC events) up to $500,000 (for major events).

— ProElite.com cost the company $3.3 million in 2007, while generating only $68,782 in revenue. Lesson: Social networking may be the hip trend these days, but good luck making a buck with it if your name isn’t Facebook or MySpace.

— EliteXC live events prez Gary Shaw earned $435,724 last year, $78 of which went to his wardrobe.

— As with the IFL, ProElite’s auditors have expressed “substantial doubt” about the company’s ability to sustain operations at this rate of financial loss.

So, ProElite didn’t earn a cent from Showtime for licensing last year, and the “Strikeforce on NBC” deal is a straight-up infomercial-style time buy. It may have seemed strange that these smaller leagues beat the UFC to network television, but when Dana White says “we’re not going to sign any deals that don’t make sense,” this is pretty much what he’s referring to.

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KJ Nooner- April 23, 2008 at 4:52 pm
I completely agree with Toughill's Penis. All of these bandwagoners jump on any idea that makes them sound knowledgable about the sport, and it is so trendy to not like Dana White.

We wouldn't be watching any MMA if it weren't for White and the Fertittas! There would be no EliteXC, no Affliction, no Xtreme Couture... and Gary Shaw would probably be getting ass-raped in a prison shower somewhere. Without DW you wouldn't have a BJJ school on every street corner, TapOut would be a failed clothing brand along with all of the others out there, and all of the fighters that now have a chance to fight in small shows all the way up to the UFC would not have any place to fight. DW is not just responsible for the UFC's success, but for all of the MMA businesses that ride on their coattails.

And as fans we should all thank him for what he has done - for all the fights we can now see in the UFC and other leagues, for all of the fat fucks that squeeze into Affliction shirts to look tough, and for everything else that is MMA, including this site!
Erin Toughill's Penis- April 23, 2008 at 4:41 pm
Everyone likes to preface theire statements with "I don't like Dana White, but..." How about you ass-pirates start waking up and realizing that he is the only one who has made this sport successful.

Gary Shaw is a loser who looks like someone who should have to notify his neighbors when he moves in next door that he is "registered" with the state, and should be restricted from living within a mile of an elementary school.

Also, how many other sports have minor leagues that are money making machines? Very few, and if they do, those minor leagues don't try to operate like they are the same as the big show in town. You don't see minor league baseball trying to offer the same salaries and put on the same scale events as the MLB because they would fail miserably. At least some guys like Cuban understand you have to start small if you are going to enter as a competitor.

I just hope EliteXC's inevitable failure on CBS won't stop another network from eventually making a successful deal with the UFC. If Shaw's fat ass holds this sport back, I hope he will take the blame he deserves. But, since it is so cool to be anti-Dana White, people will probably find a way to blame everything on him instead.
man- April 23, 2008 at 1:56 am
i feel pretty sorry for the smaller organizations.. they have some really decent fighters but they just can't compete with the UFC
mmacoach- April 22, 2008 at 6:00 pm
@KCC,
I agree. What I like about ShoXC though, is that our fighters start out or end up in KOTC. That show is allowing some good fighters to have a middle ground. Hopefully somebody sees the potential and buys the show from Shaw. My boy Joe Frainee is slated to fight in ShoXC after he gets a couple tune ups in KOTC. We'll see what happens. I'm going to fight in KOTC in August but I don't have ambitions for UFC or ShoElite.
Randy Coutures Dick- April 22, 2008 at 5:16 pm
I will own the UFc some day
Kim Couture is a cunt- April 22, 2008 at 4:05 pm
@ MMA Coach,

There is no bigger douchebag than Gary Shaw bro, I really hope for the sake of MMA that Elite XC folds and Affliction/HDNET Fights become the main UFC competitor
mmacoach- April 22, 2008 at 3:48 pm
I'm not a fan of DW, I always like to mention that, but how smart does he look now? The right combo of business savvy and douchebag personality always makes the c.r.e.a.m. and we know cream rises to the top. Rich get richer...
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