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Sources: ProElite working diligently towards completion of sale

FiveOuncesOfPain.com has learned through multiple sources – all speaking on the condition of anonymity – that ProElite’s current management team is hard at work towards completing the sale of the company. Indications are that ProElite believes it could have an agreement in place prior to the Christmas holiday.

According to sources, as many as three groups are believed to be vying for ProElite. Only the identity of one of the groups is certain, with multiple sources stating that a group led by King of the Cage promoter Terry Trebilcock has made a bid.

However, Trebilcock’s group is not considered the leading contender at this date. Sources will only go so far as to describe the top contender as a company with over a billion dollars in annual gross revenue that also is a recognizable name.

One group that is not considered to be a leading contender is the publicly traded Art of War promotional fight company. In response to a Nov. 26 report by this website, a source said that while the company was interested in submitting a bid on ProElite early in the sale process, that Art of War is no longer considered to a legitimate suitor at this time.

Whether there is a legitimate third contender for ProElite is not entirely certain, as only one source indicated the involvement of a third unnamed group in the bidding process.

It is believed that upon the completion of the sale, the leading contender hopes to inherit ProElite’s television contracts with both CBS and SHOWTIME. While it is believed that the two television partners have no desire to work with ProElite’s current ownership, Five Ounces of Pain has learned that they would be open to working with a new ProElite management team. Sources have indicated that both CBS and SHOWTIME have every intention of televising MMA events in 2009 and that they are looking for a group that can promote a large number of events.

The likelihood of a ProElite sale to a new owner raises the possibility that fighters under contract to EliteXC will not be granted free agency. While select fighters are being allowed to fight outside of their current deals on a one-off basis, the bulk of their fights could potentially come with a new version of EliteXC in 2009.

14 COMMENTS
  • Jason says:

    The fighters are getting screwed. What do you want to bet that Bellator has something to say about it. They have signed Alvarez and Reis, two of ProElite’s big names. I wonder if they are not involved in the buy somehow. I cannot imagine Shields and Lawler wanting to go to a small promotion. I think that they should give it up. They are ticking fans off and will never be as strong.

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  • gygax says:

    Billion dollars in revenue, eh? Bellator already inking Reis and Alvarez?

    Could ESPN be looking to revive EliteXC under their auspices? Just wondering aloud.

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  • Lincoln says:

    At least it’s good to here that CBS still plans to televise MMA events.

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  • MasterZero says:

    Perhaps Vince McMahon is going to try his hand at MMA.

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  • steve says:

    hopefully not.

    this is just getting ridiculous. i really feel bad for these fighters.

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  • Joseph says:

    Any ideas who this mistory company is?

    ESPN? CBS/Showtime?

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  • Joseph says:

    WWE?

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  • alkatraz says:

    i think this is good news for mma .if new leaders come of this maybe they can run the company right and that will be a win for the fighters and the fans.more mma and less jonh fitch problems for the fighters,the ufc wouldn’t drop the guy like they did last time if they knew some one would scoop him right up.

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  • Lincoln says:

    Absolutely right.Good call alkatraz.

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  • DeMan says:

    EliteXC was a looking to be a solid 2nd by terms of exposure. It can be pulled off by the right people.

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  • Tony Fennen says:

    EliteXC will probably die in regards to Name and Management but they are technically are still on life support.
    My understanding is that whomever purchases the promotion will receive the TV & Cable contracts (if there are any still open).
    I think that Vince could without a doubt put on a great MMA show. Since WWE is an advertising monster they will have no trouble making money. Their fans are loyal.
    If anyone dares to question if its “Fixed” they could just file a complaint with the Athletic Commission.
    As far as the fighters go….. THEY ARE GETTING SCREWED REGARDLESS!
    Paulie Malignaggi made over $1 Million for a BAD SHOW against Ricky Hatton.
    There are 100 MMA fighters that I think can beat HATTON in a boxing match. Dont ya think?

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  • Justin Van Hook says:

    something tells me ESPN would not be negotiating to purchase anything haveing to do with CBS and Showtime considering ESPN is already under the Disney banner and partnered with ABC. I would think ABC executives would frown on any partnership including CBS. That being said I am very interested to know this billion dollar a year company that is trying to purchase proelite

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  • alkatraz says:

    I HEAR THE NEW OWNER MAY BE MARK ECO

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  • tyler says:

    Where did you hear this? Is it a reliable source?

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