Confusion still reigns in the ProElite asset sale, with no definitive news coming out yet on who bought the promotion two days ago. Sam Caplan spits out what he knows, which basically amounts to “I don’t know”, but it’s still an interesting read to see who’s doing what and with who’s money. Last but not least, when we mentioned the sale was going down on Thursday we asked why the fuck anyone would want to buy the promotion. The answer?
With the CBS contract structured so that a promotion could lose up to $1 million per show if they were unsuccessful in selling sponsorships, it is believed that the crown jewel of the ProElite acquisition is the one year remaining on the Showtime contract. Sources have revealed that the rights fee for a mixed martial arts event on Showtime is $800,000 and that with a responsible fighter budget, a promotion could make a significant amount of money per show.
Hopefully things get resolved soon and we can all start moving on with our lives. ProElite is like an Irish wake that’s lasted for nearly two months … the body is past ripe and starting to fart some noxious grey fumes.