Elite XC Trying To Buy Time To Sell Contracts?
Last week I mentioned that ProElite ceased operation on October 20th. In the meantime the current fighters under ProElite umbrella in Elite XC may have to wait to see what’s going to happen. In a recent article at MMAWeekly.com, they mentioned that Elite XC (who’s website no longer is available) says it is still in the fight promotion business and that the fighters are obligated under their contracts to stay with the promotion and contract stipulations. It’s speculated that they may be trying to buy time to sell the fighter’s contracts to other promotions to avoid breech of contract. Here is what MMA Weekly wrote:
“Elite XC and ProElite are currently downsizing its staff in an effort to improve its business moving forward,” the notice states. “As this process is implemented, Elite XC canceled the event previously scheduled for Nov. 8 in attempt to re-schedule another event in early 2009.”
The notice also disputes reports the embattled company is declaring bankruptcy.
On Oct. 20, ProElite sent a notice to managers declaring the company was ceasing fight operations, and had begun the process of letting its employees go.
In response, many of the managers sent a “notice of breach” letter to the company, citing a clause in the contract that permits fighters to terminate the contract and seek monies owed to them if Pro Elite isn’t able to fulfill their “promotional and payment obligations” within thirty days.
It’s obvious that Elite XC is either on the way out or in huge trouble. Read more on this at MMAWeekly.com.
Tags: Elite XC, MMA. M.M.A. Mixed Martial ArtsRelated Stories
POSTED IN: Elite XC, Mixed Martial Arts
0 opinions for Elite XC Trying To Buy Time To Sell Contracts?
No one has left a comment yet. You know what this means, right? You could be first!
Have an opinion? Leave a comment: