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Around SBN: Will Rhymes 'Fine' After Being Hit By Pitch And Fainting

More Problems For ProElite??

Sam Caplan with the scoop:

In addition to EliteXC canceling its planned Sept. 20 event in Albuquerque, N.M., we are receiving word that its parent company, ProElite, has also called off a "Contenders 11" event in the UK that had been scheduled for today. "Contenders" is the "B" brand of Cage Rage, which was acquired by ProElite last year. Several layoffs have also taken place with Cage Rage now down to just three full-time employees.

ProElite also filed a notice with the SEC that they will be late in filing their 10-Q quarterly report for the fiscal second quarter that ended June 30. According to the extension request, ProElite intends to file their second quarter report on Aug. 19.

In other ProElite-related corporate, the company’s stock (PELE.PK) jumped from $2.50/share to $8.00 on Friday. That’s an increase of $5.50 in just one day. There’s no word why the stock suddenly jumped 220% in one day. I could speculate, but I won’t. But I think it’s obvious that something is going on behind the scenes.
I know one thing for certain, anytime there are cancellations there are problems and I'll leave it at that. I'm sure some of this has to do with the changing of the guardat EliteXC, with CBS kind of taking over the company. I'm sure they are still bleeding money, so these cancellations could be a ploy to try and save money. Basically, putting all their eggs in the basic for the next CBS show in October. I'll keep my ears to the streets on this situation.

Star-divide

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Cancelling multiple events wouldn’t appear to be a good thing on the surface. I doubt that ProElite will be in the MMA business come this time next year. I hope Dana is smart enough to sign Nick Diaz, Jake Sheilds and all the other Ceasar Gracie guys.

by El_Felix on Aug 16, 2008 10:43 AM EDT reply actions  

Picking up kimbo would also be a smart move…. Just for one fight. Kimbo vs lesnar would be a very short fight but it would give dana something else to brag about. And it would be a big ppv for casual fans (not that I would’nt pay to se kimbo destroyed). Also it would be a good way to enforce the ufc brand. It would be good to see nick diaz back in the mix. Although he’d have to clean up his act a little, and kiss some ass. Shields, smith and lawler would be good for some of the ufc’s weaker divisions. specificly a possible silva vs shields at MW.

by Dereck on Aug 16, 2008 1:05 PM EDT reply actions  

First let me address the comment above. Check out this article if you think that the UFC’s MW division is weak.

http://mma4real.net/?p=93

In my opinion Shields gets beat in that division before ever getting to Anderson Silva.

Now on to this topic.

I agree with you on this one. Canceling shows is never a good thing. The Cage Rage “Contenders” cancellation wouldn’t have bothered me so much if it wasn’t for them already canceling the New Mexico show.

To me the problem lies in they are going to have to fold most if not all of those B-level organizations they bought just to survive. Already I’m concerned that they don’t have enough quality stars to make interesting match-ups to keep their shows on CBS and Showtime a success and losing all those smaller organizations further shrinks their talent pool from which to try and make match-ups.

So while I hope canceling shows will allow them to cut costs and save money I don’t know if it will be enough to turn the tide back to profitability. Especially considering what they might have left after the cost cutting.

by mattman73 on Aug 16, 2008 2:24 PM EDT reply actions  

Point taken, although “weaker” was by comparison to other divisions except mabey HW. MW has no shortage of talent, but It seems like we’ve seen most of the best fights at MW already with a few exceptions (Henderson,Bisping). I’d like to see a few new faces thats all.

by Dereck on Aug 16, 2008 5:06 PM EDT reply actions  

After looking at that list at 185 I was left wishing I was the match maker for that division. I could think of a lot of different match-ups from that division that would be very exciting.

I am liking the upcoming Henderson vs. Rousimar Palhares match-up.

I got Henderson losing that fight though. I think “Toquinho” takes that one.

Sorry for being off topic.

by mattman73 on Aug 16, 2008 6:02 PM EDT reply actions  

A Maia/Palhares match up would have “Sick” written all over it.

by El_Felix on Aug 16, 2008 6:58 PM EDT reply actions  

Great discussion fellas!

by Kelvin on Aug 16, 2008 10:16 PM EDT reply actions  

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