ProElite and EliteXC may be in their final days of business as of Monday night. Most, if not all fighters in EliteXC have been notified that the November 8 show in Reno has been canceled due to a lack of funding. The show was set to have showcase Eddie Alvarez vs. Nick Diaz in the main event for the EliteXC lightweight title.
The news comes via a report by Sherdog late this evening.
“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,” reads a notice on the Graciefighter.com website, a website which is run by member of Diaz’s camp.
Showtime Networks had filed public notice with the U.S. Securities and Exchange Commission in early September that had announced the Networks’ intention to enter into preliminary negotiations to purchase ProElite. It seems that all was well and moving forward with the purchase heading into CBS’ third installment of Saturday Night Fights two weeks ago.
However, with the comments made by Seth Petruzelli to a morning talk show that he was paid to keep the fight standing, negotiations seem to have come to a screeching halt. The negative press combined with the preliminary investigation of the October 4 show by the Florida Boxing Commission may leave the company hanging out to dry with no funding and a huge $55 million dollar deficit which may cause ProElite and, in turn, EliteXC to close their doors.