This is about as surprising as PRIDE’s offices closing. Yesterday we reported that CFFC was dumping that annoying PPV model and going with the more lucritive ‘Internet’ model. Of course, how they planned to make money off the internet was still a big question mark. I guess they didn’t get to think that far ahead, because the investor issue that caused them to drop PPV access has also caused them to cancel the entire show.
This is proving to be a sad month for freakshow fans as the promotions they rely on for retarded matchups are falling arpart one by one. The problem with this one? An investor apparently backed out. On the surface this seems to make sense … investors don’t give a shit about MMA. If an evil investor doesn’t think he’s gonna make his money back on an event or if profit margins aren’t high enough, it seems logical that an investor would yank his funds.
Of course, this isn’t high school and the investor isn’t your dad funding your garage band’s first demo CD. Most smart companies doing big money deals tend to put their agreements down on paper, and investors pull out after an event doesn’t meet their expectations, not a week before the show is supposed to go on. But hey … I’m not a lawyer and I’m not a business expert, so who knows.
Perhaps the CFFC did go into this deal with an investor without taking legal precautions to protect themselves from this kind of company-busting scenario. Or maybe we’ll be hearing about a lawsuit against the investor in the next few events. I guess we’ll see. But one thing it looks like we won’t see any time soon is Kimbo Slice vs Tank Abbott. Boo hoo.