EliteXC and ProElite Inc. go down for the count like Kimbo

October 21, 11:21 AMSports ExaminerPaula Duffy

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You can't say that ProElite, Inc. didn't give it the old college try. With a major investment by Showtime and access to its sister TV distribution arm, CBS Television, the Saturday night fights had all the buzz and eyeballs.

But no amount of advertising and buzz about the star of the show, Kimbo Slice, could save the company in the end. It was announced yesterday that ProElite, Inc. and its promotion company, EliteXC, have closed their doors.

SI.com reports that the companies spent tens of millions since early 2007 and the return on investment didn't make the grade. It was pure economics that caused the fold job. It appears that Showtime sought to buy controlling interest in ProElite and was unable to do so. According to SI, that dried up available investment dollars.

Although this event happened within a couple of weeks of the now infamous fight between Kimbo Slice and last-minute replacement Seth Petruzelli there is no direct connection between the two. Elite is under investigation in connection with that fight after remarks by Petruzelli created speculation about the promoter's intent to predetermine the outcome.

The EliteXC fight scheduled for November 8th has been canceled according to one of the fighter's managers. That is, unless someone sweeps in to save it for the remaining viewers who are interested.