The pricetag on the ProElite asset sale has been revealed: 3 million bucks plus some mysterious “undisclosed portion of the licensing fee” Strikeforce makes off Showtime. Many are saying this seems like a pretty low fee, but you have to remember that the main impetus for ProElite to sell was Showtime and CBS breathing down their necks threatening to seize control of their assets.
In exchange for selling things to Strikeforce, ProElite was let off the hook for millions of dollars worth of debt. Yeah it’s pretty funny that ProElite racked that debt up throwing events for these companies, but that’s how business works. Sometimes you do shit for others and end up owing THEM money. Especially when you’re shitty businessmen like Lappen and the Shaws.