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ProElite has been sold

Five Ounces is reporting that someone has gone ahead and bought ProElite. Not many other details are known, but the news should leak out pretty quickly over the next few days. Why anyone who would go ahead and pick up the company is beyond me … the fighter contracts are questionable at best and while ProElite had two TV deals, they weren’t exactly the best deals in the world. Check out the terms of the CBS deal:

Furthermore, a source says that what CBS has told companies interested in placing a bid on ProElite that they would be paid a rights fee of $400,000 per show. However, any company that inherits the television contract would also be obligated to cover CBS’ production costs, which are believed to be as much as $500,000.

Under the aforementioned financial terms, a fight group could potentially lose money promoting shows on CBS. However, the same source indicated that under the terms of the deal, a company would have the ability to sell some of CBS’ ad inventory and if they were successful in that regard, they could turn a profit on the show.

You really shouldn’t be surprised that CBS would rape EliteXC so badly with a shitty deal. We’re talking about Hollywood types who are used to bending people over and fucking them up the ass both metaphorically and in reality. How else do you think all those terrible actors got jobs on CSI?