Is there a single article out there on the new M-1 that doesn’t make warning sirens go off in my head like a WW2 air raid? Here’s the latest quote from a sycophantic Sherdog article:
“I said give me two weeks,” recounted Maxwell, who’d never heard of mixed martial arts let alone the 31-year-old Emelianenko. “Let me put together an A-List team, let’s meet together again in Amsterdam in two weeks and see if we wanna go ahead.”
The money came together quickly. Maxwell returned to Holland on Sept. 25 and signed Emelianenko, the undisputed top heavyweight in MMA, to a letter of intent before handing him a $1.5 million signing bonus.
“All of a sudden I’m in the MMA business,” Maxwell said. “Part of life is when opportunity knocks you have to know when to open the door, and I think this was a door worth opening.”
I’d been hoping the whole “We only started 10 weeks ago” thing was just swagger or bravado. I imagined them saying that was just a social gaffe because they didn’t realize how many people would look at each other and shake their heads hearing that news. But here it is again, about as explicitly as can be. And now the guy running the show is saying he DIDN’T EVEN KNOW WHAT MMA WAS?!?!?!?!
This is just the beginning, I imagine. As time goes on and we learn more, I get the feeling that we’ll be shaking our heads more and more. This big company that was supposed to compete with the UFC is looking more and more like it consists of a bunch of morons with no idea what they’re doing.
Again, it’s only Monte Cox’s involvement that makes me think otherwise. But who is to say he didn’t just get suckered in with the promise of a retarded paycheck? If someone offered me a million bucks to get on the Titanic, I’d say yes so long as I brought a wig and a dress so I could guarantee a spot on the lifeboats.
“Two layers about 15-20 [stitches] in the meat, and 15-20 in the skin-. It cost me about five times as much as I made just to train for that fight, I took a huge financial loss, I’m more upset about that than I am about losing actually. I left with $4,800 after taxes and deductions. Every time I fight I gamble with my health, reputation and financial well being and to have a cut just detroy all my hard work and personal sacrifice like that, I can’t help but wonder if it’s even worth it.”
Here’s a little bit of advice, Kalib. When you’re trying to convince people you have heart and you’re not a quitter, you probably shouldn’t lose heart and contemplate quitting in your post.
Let’s ignore for a moment that M-1’s main financial backer Michael Baybak is part of a religion that has a reputation for bilking it’s members of all their money. I’m not the religion expert, so I’ll let Jake deal with that specific issue. What I do want to talk about is how this guy also has a reputation for artificially boosting his stocks and then selling as soon as they’re high:
Neither man agreed to be interviewed for this story, yet both threatened legal action through attorneys. “What these guys do is take over companies, hype the stock, sell their shares, and then there’s nothing left,” says John Campbell, a former securities lawyer who was a director of mining company Athena Gold until Baybak and Gerbino took it over.
The article this came from goes on in detail regarding many of the operations Baybak has been in that have collapsed and deals that have fallen through as a result of misrepresentation. Baybak actually sued Time regarding the article and as a result Time added the following caveat to the article: that they were not accusing Baybak of illegal activity or of being a “Scientology front.”
I’m not about to put my ass on the line with lawsuit-happy Scientologists … as with everything on this site, it’s my uneducated opinion and I provide links to facts that should be taken with a grain of salt based on their origins. All I’m going to say for sure is that at first glimpse M-1 seemed pretty shaky and at second glimpse it’s starting to look downright sketchy. If it wasn’t for Monte Cox at the helm I’d have already written this organization off as complete trash. As it is, I’m still damn skeptical that they’ll even manage to pull off a single event.
Hmmm. This whole M-1 thing sounds kinda familiar. Oh yeah:
Former UFC champion Frank Shamrock (Pictures) has signed a one-year, multi-million dollar contract with “The World Fighter,” a new mixed martial arts promotion set to debut January 2007, Shamrock confirmed to Sherdog.com Thursday morning.
Shamrock, who called the agreement with The World Fighter a “deal of a lifetime,” is slated to fight in Las Vegas on the January pay-per-view card versus a yet-to-be announced opponent.
In addition to main event “super fights,” The World Fighter intends to promote tournament-style events pitting 16 fighters per weight class.
Cesar Gracie (Pictures) has been tabbed as the event’s matchmaker and he’s already signed several fighters, including brothers Nick and Nathan Diaz (Pictures) as well as Jake Shields (Pictures).
If you ask me, the new M-1 is gonna be “The World Fighter” for 2007. Expect the wheels to come off this thing before the end of the year.
When Sam Caplan said the company who bought M-1 was pretty underwhelming, I never thought it would be this tame. It’s now official that the big scary threat to the UFC’s domination comes from ‘Sibling Entertainment’, a company that up until now is involved with the theatre and a little bit of independant film.
About the only thing these people have done right so far is bring Monte Cox on to head their company, and even that opens up a huge can of worms regarding conflict of interest and what happens to all of Monte’s fighters in the UFC. Past Monte, the only other obvious ace up M1’s sleeve is Fedor, and I’m not too impressed by that ace.
It’s really not that hard to sign a guy when you just go ahead and offer him everything he wants. The 1001 conditions Sibling had to agree to may not seem like a big deal now, but just wait and see how it works out for them in the long run. A good deal is one that takes care of both parties. I have a feeling this deal gives everything to Fedor and nothing for the new M-1.
Past that point, the main thing that amazes me is there’s no obvious money behind this organization. The names already in the mix don’t have the deep pockets to sustain the kind of money pit this company will have to be for the 5 years it takes to really break into the market. If they don’t name a serious moneybags investor soon, there’s no fucking way I’m gonna take them seriously. If they think they’re gonna ride this out using the stock market, someone should show them how that’s working out for the IFL.