Comments on: ProElite and Showtime need to stop the insanity before it’s too late http://fiveouncesofpain.com/2008/11/07/proelite-and-showtime-need-to-stop-the-insanity-before-its-too-late/ Your Destination for Insider MMA News and Opinion Sat, 26 May 2012 18:11:48 +0000 hourly 1 http://wordpress.org/?v=3.0.4 By: mike wolfe http://fiveouncesofpain.com/2008/11/07/proelite-and-showtime-need-to-stop-the-insanity-before-its-too-late/comment-page-1/#comment-56626 mike wolfe Wed, 12 Nov 2008 06:51:38 +0000 http://fiveouncesofpain.com/?p=8617#comment-56626 If ShoTime's lawyers were even minimally competent, a bankruptcy filing would only delay the inevitable. Most lenders take security interests in the collateral used to guarantee payment of loans. A secured creditor--one whose security interest is properly documented and recorded--is entitled to obtain the security in the event of default and regardless of a bankruptcy. The fact that assets are sold "as is" is also common. ShoTime doesn't want anybody to later claim that it somehow made warranties about the collateral. Again, very common in this type of situation. Bidders will simply adjust (decrease) their offers to account for any risks. If ShoTime’s lawyers were even minimally competent, a bankruptcy filing would only delay the inevitable. Most lenders take security interests in the collateral used to guarantee payment of loans. A secured creditor–one whose security interest is properly documented and recorded–is entitled to obtain the security in the event of default and regardless of a bankruptcy. The fact that assets are sold “as is” is also common. ShoTime doesn’t want anybody to later claim that it somehow made warranties about the collateral. Again, very common in this type of situation. Bidders will simply adjust (decrease) their offers to account for any risks.

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]]> By: dasouthernicon http://fiveouncesofpain.com/2008/11/07/proelite-and-showtime-need-to-stop-the-insanity-before-its-too-late/comment-page-1/#comment-56413 dasouthernicon Mon, 10 Nov 2008 02:09:29 +0000 http://fiveouncesofpain.com/?p=8617#comment-56413 this is truly a debacle... MMA in America is in trouble b/c of some really irresponsible jokers... Everybody could be making $$$, but since these numbskulls wanna do like they been doing, now lotsa fighters aren't gonna make a living fighting in the US, if any other place.... This is pathetic. this is truly a debacle… MMA in America is in trouble b/c of some really irresponsible jokers… Everybody could be making $$$, but since these numbskulls wanna do like they been doing, now lotsa fighters aren’t gonna make a living fighting in the US, if any other place…. This is pathetic.

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]]> By: tallsforeverybody http://fiveouncesofpain.com/2008/11/07/proelite-and-showtime-need-to-stop-the-insanity-before-its-too-late/comment-page-1/#comment-56396 tallsforeverybody Sun, 09 Nov 2008 19:56:29 +0000 http://fiveouncesofpain.com/?p=8617#comment-56396 I'll start the bidding for $KALA's buiness acumen at $1.00... I’ll start the bidding for $KALA’s buiness acumen at $1.00…

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]]> By: jj http://fiveouncesofpain.com/2008/11/07/proelite-and-showtime-need-to-stop-the-insanity-before-its-too-late/comment-page-1/#comment-56301 jj Sat, 08 Nov 2008 05:41:27 +0000 http://fiveouncesofpain.com/?p=8617#comment-56301 If you were out 8 million wouldn't you try to get something back? I can see where CBS is coming from. However, ProElite is just dragging out the inevitable. Who in their right mind would give more funding to EliteXC/ProElite when they've burned through the millions consistently with little attention to a profitable business model, especially now with the loss of their broadcasting partner(s). CBS surely has lawyers just sitting around waiting for this kind of stuff. If you were out 8 million wouldn’t you try to get something back?

I can see where CBS is coming from. However, ProElite is just dragging out the inevitable. Who in their right mind would give more funding to EliteXC/ProElite when they’ve burned through the millions consistently with little attention to a profitable business model, especially now with the loss of their broadcasting partner(s).

CBS surely has lawyers just sitting around waiting for this kind of stuff.

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]]> By: matthew http://fiveouncesofpain.com/2008/11/07/proelite-and-showtime-need-to-stop-the-insanity-before-its-too-late/comment-page-1/#comment-56297 matthew Sat, 08 Nov 2008 04:48:49 +0000 http://fiveouncesofpain.com/?p=8617#comment-56297 Good read Sam. Job well done. I enjoy your site and the majority of your posts. :P Matthew. Good read Sam. Job well done.

I enjoy your site and the majority of your posts. :P

Matthew.

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]]> By: Guinness http://fiveouncesofpain.com/2008/11/07/proelite-and-showtime-need-to-stop-the-insanity-before-its-too-late/comment-page-1/#comment-56290 Guinness Fri, 07 Nov 2008 23:01:02 +0000 http://fiveouncesofpain.com/?p=8617#comment-56290 20 days away from Novermber 20th and posted on Novermber 7th? Subtract the 3, divide by 6, add the integral of the square of pi.. yeah I get it. 20 days away from Novermber 20th and posted on Novermber 7th? Subtract the 3, divide by 6, add the integral of the square of pi.. yeah I get it.

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]]> By: Rich B http://fiveouncesofpain.com/2008/11/07/proelite-and-showtime-need-to-stop-the-insanity-before-its-too-late/comment-page-1/#comment-56283 Rich B Fri, 07 Nov 2008 20:18:22 +0000 http://fiveouncesofpain.com/?p=8617#comment-56283 Sam, How does this situation (along with the Pride acquisition) differ from that of the UFC buying out the WFA in order to getg Rampage (and Machida)? Sam,

How does this situation (along with the Pride acquisition) differ from that of the UFC buying out the WFA in order to getg Rampage (and Machida)?

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]]> By: Joseph http://fiveouncesofpain.com/2008/11/07/proelite-and-showtime-need-to-stop-the-insanity-before-its-too-late/comment-page-1/#comment-56276 Joseph Fri, 07 Nov 2008 18:10:15 +0000 http://fiveouncesofpain.com/?p=8617#comment-56276 Great write up Sam. Great write up Sam.

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]]> By: Jay K. http://fiveouncesofpain.com/2008/11/07/proelite-and-showtime-need-to-stop-the-insanity-before-its-too-late/comment-page-1/#comment-56271 Jay K. Fri, 07 Nov 2008 16:59:44 +0000 http://fiveouncesofpain.com/?p=8617#comment-56271 Sam, I read on elsewhere that attempts to reach Chuck Champion have all gone unanswered. My question is, do you think he's washed his hands of the Shaws and MMA altogether or do you think he's still involved in some capacity? Jay K. Sam,

I read on elsewhere that attempts to reach Chuck Champion have all gone unanswered.

My question is, do you think he’s washed his hands of the Shaws and MMA altogether or do you think he’s still involved in some capacity?

Jay K.

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]]> By: obamasaidknockyouout http://fiveouncesofpain.com/2008/11/07/proelite-and-showtime-need-to-stop-the-insanity-before-its-too-late/comment-page-1/#comment-56265 obamasaidknockyouout Fri, 07 Nov 2008 15:13:55 +0000 http://fiveouncesofpain.com/?p=8617#comment-56265 Sounds like people buying the contracts will get a nice lawsuit to go along with it. Sounds like people buying the contracts will get a nice lawsuit to go along with it.

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