Found this on another forum and thought it was worth sharing:
5. Lack of promotion of Champions: Outside of Robbie Lawler and former Diaz-weight champion KJ Noons, I couldn't really tell you who the champions were based on the promotion values. Lawler was featured in the first 2 CBS shows, so of I knew him. KJ Noons would only really have been known because he came off as a place-holder for Diaz's title. They didn't really seem to treat Noons as deserving, the perception was that he was less deserving than Nick Diaz. And, because he didn't want to fight Diaz for whatever reason (fear, wanting to actually be decently compensated, it doesn't matter), he was stripped of the title. The other top guys? I hit the web to find them. Antonio Silva, who tested positive for Steroids after winning the title. and Jake Shields, who was in the final CBS show. I'm sure I'm missing someone, but I don't know who. It's not like EXC actually informed me of who the champions were and why I should care as to who the contenders were. The evil UFC would at least play up the champion in whatever division some low-card fighters are in. Even if it's just "These guys are fighting for a shot at the X-Weight Title held by Y," it proves it's point.
4. Bush League/Pro Wrestling Presentation: Kind of goes with 5. Alot of the fights on CBS were lop-sided. Villasenor vs. Phil Baroni is a good example. The most flashed showed by Baroni was during his entrance. Outside of that I was like... ok? They reminded me of Saturday Mornings when I was a kid. I used to watch WCW and WWF shows that mostly featured the stars of the days against guys whose purpose was to get beat up and make the stars look good. They were called "Preliminary matches" or "Jobber matches." Jobber matches have a place in wrestling, as they're used make the wrestlers they're promoting to get famous. In MMA, they just seem to be there to pad records of the guys they want to promote. Another thing that jumped out was the post-fight riot between Diaz's camp and Noons' camp. MMA could benefit from wrestling-style interviews if done properly, but not wrestling-style angles. Then the wannabe Nitro girls crap from the first show was a real turn-off. It's like "Our fights aren't that exciting so watch these bimbos." bad taste.
3. Blowing more money than MC Hammer: If you're gonna build a legitimate contender to UFC, you need to start small. Not buying up smaller fight promotions like you're buying up McDonald's franchises and then not using them. They lost $55 million in the 2 years they were in business. They should have at least made a stronger case for the company by actually, I don't know, using them in something other than ShoXC events.
2. The Fall of Kimbo: From the very beginning, they saw internet sensation Kimbo Slice as the man that'll make them stand up to the evil empire that is UFC. If he was as good as they were hyping him to be, it wouldn't have been so bad. If he was an undercard fighter, it wouldn't have been so bad. My first impression of him came from his fight with Tank Abbott which, in retrospect, seemed like the first time I ever saw a Flair Flop lead to a finish. My impression: The first time he faces someone with any level of real talent, he'd get wrecked. His persona turned off alot of hardcore fans, but he drew in some casuals. The first fight on CBS almost ended his legacy. As he was utterly ineffective on the ground. The fight should have been stopped in the second round after 90 seconds of unprotected shots to the head. The next round saw the fight stopped after the oversized growth on Colossus' ear bursting and two more punches. The image of the loser of the fight standing in anger at being stopped while the winner was laying on the canvas, completely gassed made me sick. Then came the fight with Shamrock that wasn't. His replacement was TUF reject Seth Petruzelli. He was the some with any level of real talent and ended the myth of Kimbo in 14 seconds, with a jab off his back foot with one leg in the air. Here he was, their top dog, beaten by a nobody, a reject from the show that has made stars for their top competition and had a 30 lbs weight disadvantage. Kimbowned, indeed.
1. Standup-gate: Worse than the damage he did to Kimbo, Seth either misspoke or let it slip that he would be compensated if he didn't take Kimbo down. He changed his tune the next day to say he was offered a KO bonus. The damage was done. Gary Shaw implied something along the same lines of the initial statement of the Silverback, making matters work. In dire financial straits, they were hoping that a deal with Showtime would save their company. But the controversy, played up by the dastardly Dana White and leading to an Investigation, was too much trouble for Showtime to want to waste it's time and money on. It ended up being the final nail in the coffin.
Reason Elite XC failed.......GARY AND JARROD SHAW. short and sweet (kinda like elite XC Existance)
The bottom line is Elite XC was never a good promotion. They had a few good fighters, when in reality, they could have had a lot more known names. On the CBS show, they had the final 2-3 fights with people well known in the fight world, and then a whole undercard filled with virtually no names. Did most people (even hardcore fans) know who Brett Rogers was prior to his scuffle with Kimbo?
Instead of buying organizations, and making your events look like they were being held in a strip joint, Elite XC should have focused their financial might (at the time) on investing in talent. I think they would have received much more respect if they had done that. Unfortunately though, their staff was too new and too green to appreciate the delicate procedure of creating a fight card.