Comments on: While the identity of ProElite’s potential buyer remains a mystery, new details come to the forefront http://fiveouncesofpain.com/2008/12/20/while-the-identity-of-proelites-potential-buyer-remains-a-mystery-new-details-come-to-the-forefront/ Your Destination for Insider MMA News and Opinion Sun, 22 Nov 2009 08:57:06 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: Harris Waters http://fiveouncesofpain.com/2008/12/20/while-the-identity-of-proelites-potential-buyer-remains-a-mystery-new-details-come-to-the-forefront/comment-page-1/#comment-61111 Harris Waters Mon, 22 Dec 2008 21:03:41 +0000 http://fiveouncesofpain.com/?p=10213#comment-61111 Dude, There are other players in the deal and PE is just playing all of them against each other. They're all starting to figure it out and some are just deciding to step aside and let the smoke clear before doing anything else. This was supposed to be a done deal by end of November. I'd bet money it's not done by year end because PE keeps telling everyone to up their offer and everyone's tired of hearing this message. I've got it on pretty good authority that a couple of others are waiting to see if there really is some mystery high bidder before they'll add another penny to their offers. Plus one of these other companies actually proposed a deal in excess of the rumored $9.5 mill asking price, but apparently PE or CBS didn't like its structure. No one's willing to give Chuck Champion everything he wants in the deal and why should they? The economy sucks and he wants someone to pony up close to $10 mil up front when PE's already blown thru over $50 mil and is in default on some of its obligations. Heck, the bidders might be better off if PE ended up in bankruptcy and then they could cherry pick assets and leave most of the debts behind. Dude,

There are other players in the deal and PE is just playing all of them against each other. They’re all starting to figure it out and some are just deciding to step aside and let the smoke clear before doing anything else.

This was supposed to be a done deal by end of November. I’d bet money it’s not done by year end because PE keeps telling everyone to up their offer and everyone’s tired of hearing this message.

I’ve got it on pretty good authority that a couple of others are waiting to see if there really is some mystery high bidder before they’ll add another penny to their offers.

Plus one of these other companies actually proposed a deal in excess of the rumored $9.5 mill asking price, but apparently PE or CBS didn’t like its structure.

No one’s willing to give Chuck Champion everything he wants in the deal and why should they? The economy sucks and he wants someone to pony up close to $10 mil up front when PE’s already blown thru over $50 mil and is in default on some of its obligations.

Heck, the bidders might be better off if PE ended up in bankruptcy and then they could cherry pick assets and leave most of the debts behind.

Like or Dislike: Thumb up 0 Thumb down 0

]]> By: Sam Caplan http://fiveouncesofpain.com/2008/12/20/while-the-identity-of-proelites-potential-buyer-remains-a-mystery-new-details-come-to-the-forefront/comment-page-1/#comment-61052 Sam Caplan Mon, 22 Dec 2008 02:04:49 +0000 http://fiveouncesofpain.com/?p=10213#comment-61052 Joseph, I don't know how much longer it can drag on. At their burn rate, they are going to have to declare bankruptcy if they don't sell soon. They still have a small amount of employees to pay, office space, operating expenses, etc. The skeleton crew that remains aren't going to donate their services for free. Joseph, I don’t know how much longer it can drag on. At their burn rate, they are going to have to declare bankruptcy if they don’t sell soon. They still have a small amount of employees to pay, office space, operating expenses, etc. The skeleton crew that remains aren’t going to donate their services for free.

Like or Dislike: Thumb up 0 Thumb down 0

]]> By: joseph http://fiveouncesofpain.com/2008/12/20/while-the-identity-of-proelites-potential-buyer-remains-a-mystery-new-details-come-to-the-forefront/comment-page-1/#comment-61049 joseph Mon, 22 Dec 2008 01:48:52 +0000 http://fiveouncesofpain.com/?p=10213#comment-61049 Thanks for clarifying Sam. I was just wondering if ProElite wants to meet their goal of selling the company by the end of the year, or else, I fear it will drag into next year due to the holidays. I get the same feeling as well, but they have to make a choice soon, or else these parties will get fed up with all these run-arounds. Thanks for clarifying Sam.

I was just wondering if ProElite wants to meet their goal of selling the company by the end of the year, or else, I fear it will drag into next year due to the holidays.

I get the same feeling as well, but they have to make a choice soon, or else these parties will get fed up with all these run-arounds.

Like or Dislike: Thumb up 0 Thumb down 0

]]> By: Robert http://fiveouncesofpain.com/2008/12/20/while-the-identity-of-proelites-potential-buyer-remains-a-mystery-new-details-come-to-the-forefront/comment-page-1/#comment-61037 Robert Sun, 21 Dec 2008 23:58:29 +0000 http://fiveouncesofpain.com/?p=10213#comment-61037 Hopefully a deal is reached and the buyer gets a fresh start with the current CBS and Showtime deals in place. As long as the Shaw's are not involved the promotion has a real chance at success. Hopefully a deal is reached and the buyer gets a fresh start with the current CBS and Showtime deals in place. As long as the Shaw’s are not involved the promotion has a real chance at success.

Like or Dislike: Thumb up 0 Thumb down 0

]]> By: Sam Caplan http://fiveouncesofpain.com/2008/12/20/while-the-identity-of-proelites-potential-buyer-remains-a-mystery-new-details-come-to-the-forefront/comment-page-1/#comment-61011 Sam Caplan Sun, 21 Dec 2008 20:36:34 +0000 http://fiveouncesofpain.com/?p=10213#comment-61011 Joseph, to clarify, I've never said it was Coker as some other sites are attributing. I reported that certain members of the MMA media have been informed it is Strikeforce. Nobody knows for sure who it will be. I also doubt that we will hear an announcement on Monday. I am beginning to suspect that ProElite may be telling people different things in order to create the illusion of a market for the company as a way to get companies to up their bids. That's just a theory on my part though. I hear something different and new on a daily basis. Joseph, to clarify, I’ve never said it was Coker as some other sites are attributing. I reported that certain members of the MMA media have been informed it is Strikeforce. Nobody knows for sure who it will be. I also doubt that we will hear an announcement on Monday. I am beginning to suspect that ProElite may be telling people different things in order to create the illusion of a market for the company as a way to get companies to up their bids. That’s just a theory on my part though. I hear something different and new on a daily basis.

Like or Dislike: Thumb up 0 Thumb down 0

]]> By: joseph http://fiveouncesofpain.com/2008/12/20/while-the-identity-of-proelites-potential-buyer-remains-a-mystery-new-details-come-to-the-forefront/comment-page-1/#comment-61009 joseph Sun, 21 Dec 2008 19:55:11 +0000 http://fiveouncesofpain.com/?p=10213#comment-61009 Sam, If it is Coker and if he is on vacation, will this drag onto next year, after the holidays? Sam,

If it is Coker and if he is on vacation, will this drag onto next year, after the holidays?

Like or Dislike: Thumb up 0 Thumb down 0

]]> By: Sam Caplan http://fiveouncesofpain.com/2008/12/20/while-the-identity-of-proelites-potential-buyer-remains-a-mystery-new-details-come-to-the-forefront/comment-page-1/#comment-60994 Sam Caplan Sun, 21 Dec 2008 16:50:11 +0000 http://fiveouncesofpain.com/?p=10213#comment-60994 William, if I knew the identity, why would I withhold it? Please use common sense. William, if I knew the identity, why would I withhold it? Please use common sense.

Like or Dislike: Thumb up 0 Thumb down 0

]]> By: William W. http://fiveouncesofpain.com/2008/12/20/while-the-identity-of-proelites-potential-buyer-remains-a-mystery-new-details-come-to-the-forefront/comment-page-1/#comment-60992 William W. Sun, 21 Dec 2008 16:45:20 +0000 http://fiveouncesofpain.com/?p=10213#comment-60992 Sam, do you really expect us to believe you don't know who the new owner is? :) Sam, do you really expect us to believe you don’t know who the new owner is? :)

Like or Dislike: Thumb up 0 Thumb down 0

]]> By: Nick http://fiveouncesofpain.com/2008/12/20/while-the-identity-of-proelites-potential-buyer-remains-a-mystery-new-details-come-to-the-forefront/comment-page-1/#comment-60989 Nick Sun, 21 Dec 2008 16:38:11 +0000 http://fiveouncesofpain.com/?p=10213#comment-60989 scott coker is someone i would love to give control over a decent stable of fighters and major exposure through cbs and showtime.....he seems to know how to run an effective promotion. as well, dana white loves him and the likelihood of some cross-promotion is increased......this way we could have 2 healthy organizations who like each other enough to put on the odd superfight......ppv bonanza! scott coker is someone i would love to give control over a decent stable of fighters and major exposure through cbs and showtime…..he seems to know how to run an effective promotion.

as well, dana white loves him and the likelihood of some cross-promotion is increased……this way we could have 2 healthy organizations who like each other enough to put on the odd superfight……ppv bonanza!

Like or Dislike: Thumb up 0 Thumb down 0

]]> By: EdWhitson http://fiveouncesofpain.com/2008/12/20/while-the-identity-of-proelites-potential-buyer-remains-a-mystery-new-details-come-to-the-forefront/comment-page-1/#comment-60974 EdWhitson Sun, 21 Dec 2008 11:51:49 +0000 http://fiveouncesofpain.com/?p=10213#comment-60974 Really, hope it is the UFC - like to see Lawler back. Shields vs. some of the top WWs. Really, hope it is the UFC – like to see Lawler back. Shields vs. some of the top WWs.

Like or Dislike: Thumb up 0 Thumb down 0

]]>