If it wasn't official before, it will be Nov. 17. According to FiveOuncesOfPain.com, ProElite is officially kaput. Showtime Networks and CBS Corporation filed with the SEC to have the company's assets given to the highest bidders.
"Showtime gave the Issuer a notice pursuant to the Security Agreement, as amended, that it intends to sell all of the Issuer's personal property, whether tangible or intangible, to the highest bidder at a public sale," states the filing. "Showtime reserves its rights under the Security Agreement, as amended, and applicable law to adjourn or cancel the sale and thereafter dispose of such property in a public or private sale or in any other manner provided by applicable law."
News of the auction comes off the heels of the company responding to its fighters' "breach of contract" claims, in which ProElite said it was simply downsizing - not filing for bankruptcy - and was still planning to promote future MMA events.
However, as FiveOuncesOfPain.com pointed out, it looks like ProElite's future was not in its hands.
- ProElite's assets to be sold off through public auction on Nov. 17 (FiveOuncesOfPain.com)