Deal to acquire ProElite’s assets believed to be near completion (*UPDATED* Deal already done?) » Community » MMA News Share Forum » Deal to acquire ProElite’s assets believed to be near completion (*UPDATED* Deal already done?)
12/18/08 6:45:22AM
In recent hours has been informed by sources that ProElite, Inc. has accepted a bid to sell its assets to an outside company.

However, Five Ounces of Pain has been unable to verify the identity of that company. It is also unclear whether the company came close to receiving its asking price of $9 million. An announcement could be made by the end of business on Thursday, or possibly on Monday.

12/18/08 8:00:12AM

Over the weekend, multiple sources identified a group led by King of the Cage promoter Terry Trebilcock and a financial backer as the leading candidate to acquire ProElite’s assets.

Other groups said to have made bids were Strikeforce; a group led by former EliteXC Director of Fight Operations Jeremy Lappen; and another group headed by former ProElite COO William Kelly. Sources have confirmed that neither Strikeforce or Lappen’s bids were successful.

Published reports also suggested that Mark Ecko’s Ecko Enterprises had also submitted the bid, but two separate sources have informed Five Ounces of Pain that Ecko was never a serious contender and it’s uncertain whether they even submitted a formal bid.

I'm really hoping that Trebilcock has what it takes to get this done. The Lappen group experiment would be a disaster

Just hoping Vince McMann doesn't come out of nowhere and take it.
12/21/08 12:05:05PM
The identity of the company with the winning bid still remains unclear. Five Ounces of Pain had originally reported that a group led by Terry Trebilcock was considered the leading candidate. However, a single source informed us Friday night that it is believed that Trebilcock and his backers, a group of high-profile Native American casino owners, have pulled out of the bidding.

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