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Nick Diaz is starting his own MMA promotion

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FastKnockout

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Rumors are surfacing that Nick Diaz is starting his own Stockton based MMA promotion.

Link

Post #1   5/13/13 4:06:20PM   

hotrodttt

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Just in, Nick Diaz will only test for Roids and trt abuse. Tch metabolites can be in your system

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Post #2   5/13/13 4:24:37PM   

prophecy033

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There goes all his weed money

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Post #3   5/13/13 4:38:16PM   

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Posted by hotrodttt

Tch metabolites must be in your system



Fixed

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Post #4   5/13/13 5:18:16PM   

prophecy033

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Posted by jjeans


Posted by hotrodttt

THC metabolites must be in your system



Fixed

now its fixed

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Post #5   5/13/13 5:57:00PM   

Kpro

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He's got the money and Strikeforce is no longer a California competitor. Why not, the market there can carry it as they showed with Strikeforce.

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Post #6   5/13/13 6:10:41PM   

Michael_Corleone

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I wonder if he will use the yellow card system that he talked about at an earlier press conference before his fight with GSP. I agree with KPro the market is wide open so I wish him the best of luck.

Post #7   5/13/13 6:20:33PM   

hotrodttt

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Posted by prophecy033


Posted by jjeans


Posted by hotrodttt

THC metabolites must be in your system



Fixed

now its fixed



Haha thanks guys, auto correct on my phone is annoying

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Post #8   5/13/13 6:36:40PM   

grappler0000

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There are definitely safer ventures to invest in, but more power to him if that's what he really wants to do. I'd just hate to see someone lose their retirement nest egg on a risky investment.

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Post #9   5/13/13 10:19:12PM   

LightsOUT23

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"The application process is expected to take some time, but Nick has already passed required background checks" - This is a guy who admitted on live TV that he has never paid taxes ????

Post #10   5/14/13 6:02:04AM   

Kpro

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Posted by LightsOUT23

"The application process is expected to take some time, but Nick has already passed required background checks" - This is a guy who admitted on live TV that he has never paid taxes ????



I'm not sure he knew what he was saying, not that it would be a big surprise. Cesar Gracie, not that he'd know what he's saying either, said Nick has probably overpaid his taxes. The truth is somewhere in the middle but if he'd really never paid his taxes, or never filed, we would've heard a whole lot more about it by now.

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Post #11   5/14/13 6:14:56AM   

Kpro

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"the California State Athletic Commission has confirmed Nick Diaz's application with the state to start the War MMA fight promotion. The application process is expected to take some time, but Nick has already passed required background checks."

This is part of the required background check the CSAC requires a promoter to pass:
A) Full Financial Statements for all Ownership Partners prepared by a CPA or PA within 60 days of filing for Promoters License. Must be on CPA/PA letterhead and be included for all Ownership Partners to ensure good financial standing.
B) Disclose any fines/suspensions by any athletic commissions
C) Disclose anything other than minor traffic violations even if found not guilty/discharged/etc.
D) Prove $50k+ in liquid assets.

These are just a few of the extra items in the application process before having an event:
A) Secure $50k bond covering taxes, fines, payment of fees to fighters, referees, timekeepers, judges, etc.
B) Secure $50k short-term medical insurance (Pay deductible)
C) $1k to get a professional MMA promoters license ($250 amateur)


I think it's safe to assume Nick has no major problems with the IRS by what is in bold above. If he does have any problems at all with the IRS, they weren't enough to keep him from passing the CSAC's financial statement check he had performed by a CPA within the last two months. Since he's passed the background checks, it's also safe to assume there was no issue with his two suspensions/fines by the NSAC for marijuana metabolites and no issue with anything on his record if he does have any misdemeanors or anything else. He's also proven $50k+ in liquid assets.

From this point on it's just getting everything in order from who the partners are, who the matchmaker will be, etc. And then securing a bond covering event expenses as well as the deductible on $50k short-term medical insurance for the event. And then $1,250 for the license ($1k pro, $250 ammy).

As long as he has some people around him to make the wheels spin as far as taking care of the bonds, insurance, and other financial ins and outs he's probably not the best-equipped to take care of, I wouldn't be surprised to see it be successful. But I think the unpaid taxes story is obviously a non-issue since he has passed his financial statement background with the CSAC as prepared by a CPA.

If you want to see the website for the new promotion (nothing there yet) it is here: http://nickdiazpromotions.com/


Last edited 5/14/13 8:41AM server time by Kpro
Edit note/reason: n/a

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Post #12   5/14/13 7:17:30AM   

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Cool idea. Not sure if UFC will allow him to fight anymore or not. There have been guys under contract with UFC that had their own promotions, but Dana might have a hard-on to fuck with Nick.

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Post #13   5/14/13 9:21:23AM   

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Ahhhhh WtF? The most exciting fighter in 2011 comes to the UFC and has 2 of the shittiest most boring fights I've ever seen and now he's quitting to start some bush league fight promotion Dana White will undoubtedly crush.

That's just great

Post #14   5/14/13 12:57:01PM   

telnights

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Well lets call it what it is Cesar Gracie using Nick to start his own promotion. The hole reason Nick left the UFC years ago was because Cesar Gracie was going to start his own promotion.

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Post #15   5/14/13 12:58:35PM   
 
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