[Steve4192]

Adam Swift's latest entry on MMAPayout.com talks about both the IFL & ProElite requesting an extension of the filing deadline for their 1st quarter financial reports.

MMAPayout.com: The Business of MMA: Late 10-Qs for ProElite, IFL: ProElite Seeking Additional Funding

ProElite's reason for being late is that their financial staff is tied up doing due diligence on a potential new financier. This interesting little nugget is from the tail end of that post.

Sources have told MMAPayout.com that the company is believed to be seeking $5 million in additional funding. There were rumors earlier this month that the company had bet the farm on its CBS debut and would be in need of additional funding to continue past June 1.

Sounds like the CBS show is even more a sink or swim proposition than was originally thought. I can't imagine that a new investor would dump money into ProElite just two weeks before the biggest event in the company's history rather than waiting two weeks to see how the CBS show performs. If the show flops, this 'new financier' will likely back out and leave EliteXC in the lurch.

I hope the show is a success, but it is looking more and more like EliteXC bet the entire future of the company on the CBS deal in general and the 5/31 show in particular.

[cool2007]

UFC did the same thing with TUF

[Steve4192]

Originally Posted by cool2007

UFC did the same thing with TUF

100% true.

The only difference is that both the UFC & SpikeTV bet the farm on TUF, while EliteXC is the only one betting the farm on 'Primetime'.

Spike was on the brink of getting dropped by cable providers due to their pitiful ratings. TUF was their last ditch effort to make a grab at the 18-35 year old male demographic that they had promised to management when they switched formats. If TUF had failed, chances are that both the UFC & SpikeTV would be out of business.

CBS, while struggling to keep up with it's network brethren, is in no danger of going out of business. They don't have nearly as much invested in EliteXC as SpikeTV had invested in the UFC. If EliteXC fails, CBS will just move on to something else. If TUF had failed, Spike was going out of business.

The UFC & SpikeTV were true partners. EliteXC is nothing more than a expendable content provider to CBS.

[bullhead]

elite has lost over 31 million, thats a shit load of cash to lose, if they dont do something drastic soon theyll be joining the IFL soon in the bin

[Superflybilly]

i would love to see elite xc go under, i hate gary shaw

the makes out like kimbo is some shit hot boxer not some back yard brawler with 2 pro fights and trashes the ufc all the time for their exclusive contracts, do you think shaw would do anything different if he was top of the heap? he would be so bad he is already guilty of protecting his top fighters. if he was in danas position kimbo would be hw champ fighting cans till he retired

rant over

[aphexish]

I think, and hope that we are left with a few major players in the North American market. Its very crowded, and everyone has different rules.

IFL, EliteXC, Strikeforce, HDNet Fights, Adrenaline, and Afflication...I wish there was a more unified set of rules, and better ranking system.

[kik2dik]

Originally Posted by aphexish

I think, and hope that we are left with a few major players in the North American market. Its very crowded, and everyone has different rules.

IFL, EliteXC, Strikeforce, HDNet Fights, Adrenaline, and Afflication...I wish there was a more unified set of rules, and better ranking system.

I almost agree. Competition is a good thing, but EliteXC is the definition of a coat-tail rider. I would like to see the IFL survive much more than Elite. I also think Strikeforce has a good thing going.

[Superflybilly]

damn straight elite xc seems to draw attention to itself with gimmicks like female mma and kimbo slice the you tube warrior.

other orgs actually have some young up and comers

[Steve4192]

Originally Posted by aphexish

IFL, EliteXC, Strikeforce, HDNet Fights, Adrenaline, and Afflication...I wish there was a more unified set of rules, and better ranking system.

HDNet fights is pretty much out of business already. They haven't had a show in 2008 and, to the best of my knowledge, don't have any future events on the horizon. I think Cuban has decided he'd rather buy his MMA content rather than promote his own shows.

IFL will be out of business by the end of the year.

Ditto for Affliction.

EliteXC will either be (1) out of business or (2) a huge success story by the end of the year.

Strikeforce will definitely still be around as a regional competitor. They make serious bank as long as they stay in their own back yard.

Adrenaline is a huge unknown. I suspect they'll do fine, as Monte Cox has a long history of running profitable MMA promotions. He won't overextend himself like all of the other johnny-come-lately promoters have done.

[Steve4192]

Originally Posted by Superflybilly

other orgs actually have some young up and comers

Robby Lawler
Jake Shields
Eddie Alvarez
Nick Diaz
Antonio Silva
KJ Noons
Brett Rogers

EliteXC's roster rivals that of any other non-UFC American promoter.