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Gareb Shamus is going to have a very Merry Christmas

By Zach Arnold | December 20, 2007

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The IFL filed a form 8k on Tuesday with the SEC, announcing the terms of their consulting agreement with Gareb Shamus. Shamus is being eased out of the IFL, but not without a sweet payday.

Retroactive to 11/20/2007 and ending on 5/20/2008, Shamus will be paid $20,833 USD per month for the next six months (or a sum amount of $125,000 USD).

Topics: IFL, Media, MMA, Zach Arnold | 9 Comments » | Permalink | Trackback |

9 Responses to “Gareb Shamus is going to have a very Merry Christmas”

  1. Zack says:

    Damnit I wish I was a part of the Illuminati.

  2. Well, that’s a nice brass parachute.

    If that.

    Heck, Cro Cop makes almost three times that to lose.

  3. GassedOut says:

    ^Yeah, but he has to get the stuffing knocked out of him. This is like free money in a way.

  4. Free money after two years of sinking his life into a useless diversion. Still … nice to see the IFL can’t afford decent headlining fights but can dump money on an exec like that. Horay for cost cutting!

  5. AB says:

    Do you think $100K is going to make a difference for Shamus? Have you seen golden parachutes from real companies? Compared to what he probably lost with the IFL, that severance payment is chump change anyway.

  6. Gygax says:

    I agree with #5. Compared to what Shamus makes as the founder and CEO of Wizard Entertainment Group and as publisher of 5 magazines with a worldwide circulation of 40 million copies a month, $120G’s a year is nice but not that amazing. I think Shamus saw the writing on the wall for the IFL and jumped ship at the right time.

  7. Grape Knee High says:

    I don’t think that would even count as a brass parachute. Maybe wood? Maybe not even a parachute. More like they’re handing him a $20 and pushing him out of the plane.

  8. pauli says:

    …which puts him in a better spot than those still onboard, headed rapidly into the waters of the bermuda triangle.

  9. I wonder how many shares he’s still holding?

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