Tuesday, November 11, 2008

MMA agents unify in hopes of blocking Showtime contract auction

As seen on MMAjunkie.com

Some of the top agents in mixed martial arts have banded together in hopes of blocking Showtime's upcoming auction of ProElite's assets, including their fighters' contracts.

The letter -- sent to MMAjunkie.com (www.mmajunkie.com) by Ken Pavia and co-signed by Monte Cox, Ed Soares, Matt Stansell, Bob Cook, Chas Bowling and Cesar Gracie -- warns would-be buyers that the agents plan to fight the legality of any sale.

"The unity of this effort is unprecedented and the message that is being sent is clear," the statement read. "Absent significant pre-established negotiated terms, do not bid on these contracts unless you are prepared to fight the challenge to their legality."

Showtime has claimed rights to ProElite's "tangible and intangible" assets after the company defaulted on two promissory notes of $4 million that it lent to the company in June and September. The premium cable company notified the public markets last week of its intentions to auction off those assets, including the fighter contracts, on Nov. 17.

Click here to read the entire article at MMAjunkie.com



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