Elite XC goes under!

Floyd-MayWizzle · Joined: 02 Jan 2006 Posts: 565

I hear an 'I told you so' coming from Dana White

http://mmamania.com/2008/10/20/report-pro-elite-and-elite-xc-shutting-its-doors-effective-immediately/

Barryboy · Joined: 17 Oct 2005 Posts: 3542 Location: Glasgow, Scotland

It'd be more like 'I knew these fuckin retards weren't up to shit, dumb fuckers' etc etc :lol:

Here's a bit more:

ELITEXC INSIDER DETAILS COMPANY'S DOWNFALL

Tuesday, October 21, 2008 - by Tom Hamlin - MMAWeekly.com

In an interview with MMAWeekly.com Monday evening, Icon Sport founder T.J. Thompson said crisis management, or lack thereof, brought Pro Elite down.

Thompson history with Elite began in August of 2007 when he sold his Hawaiian MMA promotion Icon Sport to the then-expanding company. As part of his deal, he entered into a five-year consulting deal with the Los Angeles-based company and participated in many strategic talks with its executives.

A 15-year industry veteran who got his start promoting fights in the backrooms of bars to a couple hundred fans, Thompson got a call Monday morning from EliteXC Head of Fight Operations Jeremy Lappen, who informed him that the company had filed for bankruptcy and everyone in the company would be let go.

Thompson said it was CBS, not Showtime, who backed out of an impending deal to purchase the ailing fight promotion. Last Tuesday, he spoke with Elite CEO Chuck Champion, who said the company had a fifty-fifty shot of surviving.

“His opinion was that the deal was either going to close in the next two to four weeks, or it was going to crash a lot faster than that,” Thompson said.

Though he was not present during negotiations between Elite and CBS, Thompson believes the handling of Elite’s third CBS televised card, “Heat,” sealed their fate.

“I was there cageside and watched the whole thing happen,” he said. “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.”

Almost as quickly as “Heat” was over, the Oct. 4 show was mired in controversy over comments Petruzelli made to an Orlando radio show. During his interview, Petruzelli implied that Elite XC officials had attempted to influence the outcome of the fight. Subsequent outcry from fans and media caused the Florida State Boxing Commission to open an investigation, another reason Thompson believes CBS pulled out of talks with Elite.

“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.

As a promoter, Thompson says he’s made hundreds of mistakes in his fifteen-year career. Elite’s size and visibility did not give them that luxury.

“When things are going good, anyone can promote a show,” he said. “Kimbo Slice knocking someone out, it’s pretty easy to get good ratings. It’s when crises happen that you earn your money as a promoter. It isn’t an exact science. The people that have been at the helm of EliteXC didn’t have the years of experience that are needed to promote MMA shows.”

Limiescouse · Joined: 04 Feb 2006 Posts: 9185 Location: Orlando, FL

I think this is good for MMA in the long run

ST1986 · Joined: 13 Dec 2006 Posts: 288 Location: Cardiff, Wales

Limiescouse wrote: I think this is good for MMA in the long run
why?

Limiescouse · Joined: 04 Feb 2006 Posts: 9185 Location: Orlando, FL

Because they are a crap organization, with second tier fighters, that belittles one of the central aspect of the sport...ground game.

If you were curious but uneductaed and turned on one of their cards (remember, this is more visible than UFC due to the network connection) you would likely turn off.

Shaw was in this to TRY and bleed money out of it until it was dry. He didnt give a shit about the sport itself.

Christ_the_Impaler · Joined: 11 Jan 2006 Posts: 2378 Location: Islington, London

I agree Limie for the most part. Elite have proven in their short history that they are more interested in trying to market fighters like Kimbo, fighters who have done nothing to deserve their primetime spot at the top of a card than they are interested in developing the sport. There was little or no structure in the company at all - highlighted when Ricco Rodriguez fought on one of the cards and then Kimbo filled the main event slot. WTF???

I'm glad they are gone. I want another organisation to challenge the UFC, as I fuckin hate Dana White's arrogance and monopolisation of the sport and hopefully Affliction can go some way to doing that. They look a fairly solid organisation and have some big names in their ranks.

Limiescouse · Joined: 04 Feb 2006 Posts: 9185 Location: Orlando, FL

I disagree. Wasnt one fo the supposed strengths of MMA/UFC, that highlighted the problems with boxing that there was one belt...one champ. Of course in the Pride days that wasnt strictly true, but there was at least the perception. Another company rising even to one level below UFC takes away from that strength.

I have always said that the danger UFC faces is that as becomes more popular the liklihood of it making the same mistakes as boxing increases (more fighters means more opportunities for good fighters to fight easy gimmie fights, gradual dilution of cards, rival promotions haveing their own champions).

If Affliction can create something that can work alongside UFC it could potentially be good, but more likely there will not be a good partnership between the two...and still Fedor will be not fighting the UFC guys.

I truely think the future of the sport is best served by Dana/Zuffa maintaining a monopoly.