Here’s a mass message I just got from Proelite.com:
I wanted you to be the first ones to know that we will be announcing on Monday that ProElite, Inc., the parent company of ProElite.com, has completed the filing process with the SEC to begin trading its stock on the open market. We are excited about this and hope for continued growth of the sport we love and ProElite.com. Check it out at: finance.yahoo.com/q?s=pele.pk
Past some quick and dirty financing, I have no idea why these fight companies keep turning to the stock market. The stock market doesn’t care about mixed martial arts. The stock market doesn’t even understand it. I think the best proof of this comes from an article in Barrons which states:
The question for investors is whether the sport is a fad, or an up-and-coming wrestling replacement.
You know things are bad when *at best* you’re a replacement for pro wrestling. For all the talk about mainstream acceptance, MMA still isn’t taken seriously as a real sport by the majority of institutions. Every major newspaper will report on horse racing and bike riding, but unless someone wants to write a hack op-ed piece, MMA ain’t getting covered.
Finally, there is the financial aspect of things : by starting big instead of building up, these companies are losing buckets of cash. Just once I’d like to see someone with big money come in and help an already established and respected group like Icon or King of the Cage steadily grow to the next level with a proper five year business plan that doesn’t involve losing nearly 10 million dollars a year.