Most interesting part of this article is the last couple of paragraphs, quoted here:
Semenov's decision made such waves that even his former tutor Fedor Emelianenko (Pictures) interfered. When Fedor heard the news, he immediately called Finkelchtein, Red Devil's owner. Later Fedor was quoted in an interview as saying, "Listen, nothing will come of [Semenov]. I have no desire to work with someone who lets people down like that."
Finkelchtein is unlikely to watch without doing anything. The consequences could involve M-1 signing native Russian talent to exclusive contracts
or making it difficult for Bodog to run shows in St. Petersburg. Link