“More bad news about FEG / K-1 / DREAM” is barely news any more, since there’s so much of it. What’d be real news is good news about their situation. I doubt that’s gonna happen though, since at this point nothing short of a Jesus style resurrection will save FEG.
The latest sign of imminent failure: K-1 partner It’s Showtime throwing the company under the bus for non-payments and screwing up their big Amsterdam Arena co-promotion. This is from a press release:
It was January 18 when K-1 finally told me that it isn’t able to put the fight card together, because many fighters who have fought for K-1 still have to get their money, and K-1 can’t negotiate with fighters whom K-1 still owes money to. For a long time it’s not a secret anymore that K-1 is in bad financial problems and that it’s still the question whether they will survive this crisis. FEG (K-1) tries to do everything in its power to get out of this crisis but the negotiations with potential investors are stagnating for a year already.
We from IT’S SHOWTIME have tried to help K-1 in every area the last couple of years and we have been very merciful regarding the payments of our fighters. The debts keep increasing in a very fast pace, though. According to FEG, everything will be alright but everything takes more time than they had expected and FEG asks us for more time regarding the payments of our fighters and the final fight card for the Amsterdam Arena.
We from IT’S SHOWTIME really hope that K-1 will stay alive and that they will survive these difficult times. However, we don’t believe this will happen anytime soon and therefore we don’t see the Amsterdam Arena event happen in May.
There is a silver lining here, at least for K-1: when FEG finally collapses, there will no doubt be a buyer in the wings ready to pick the kickboxing brand up and move it forward … hopefully in a less incompetent and short-sighted manner. But like all things Japanese, it’s a little bit more complicated than that. There always seems to be one shifty exec or another floating around in the background, unwilling to let things move forward.