29 Jun 2012 11:48:55 AM
California’s state athletic commission is in big financial trouble and with it, the possibility of future MMA and boxing matches held in the state. At a meeting on Tuesday it was revealed that the CSAC, led by Executive Director George Dodd, is insolvent, and has been spending far more than it is bringing in through event revenue.
The budget officer for California’s Department of Consumer Affairs (DCA), Taylor Schick, released a memo with numbers detailing that if the commission continues on its current path it would face a deficit of nearly $700,000 by the end of 2013’s fiscal year. Such a deficit would force the state to stop putting on athletic events, including MMA and boxing contests, according to DCA director Denise Brown in a letter to Dodd.
“Without the ability to pay for even basic services, the Commission will have no choice but to cease operation immediately and cancel or postpone indefinitely all Commission regulated events,” she wrote.Read More DIGG THIS