Elite XC down for the count

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sean alarid
Posts: 215
Joined: Fri May 30, 2008 10:46 pm
Location: Oakley

Elite XC down for the count

Post by sean alarid »

Elite XC, which produced seven of the 10 most-watched MMA matches in U.S. history on two CBS specials in recent months, will be closing its doors at the end of the week. This leaves a roster of fighters, including top draws Kimbo Slice and Gina Carano, looking for work in a constricted environment.

Elite XC joins the International Fight League and Bodog Fight as high-profile competitors to the industry leader, the Ultimate Fighting Championship, to fold during the past year.

With deals with CBS and Showtime, the latter a major shareholder, Elite XC had the exposure the other failed challengers lacked, but lost more than $55 million in its two years of operation. Its losses included having a bad television deal in the first year with Showtime, causing them to lose money on every show; losing millions on trying, and failing, to build a website that was designed to be a destination for the MMA community; and purchasing four promotions outright and putting money into a fifth.

One of them, the U.K.-based Cage Rage promotion, set them back $18 million in losses.

“I got a call earlier [Monday] telling me they were shutting down,â€
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