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Fertittas make their next move with Xyience
By Zach Arnold | February 14, 2008
John Edwards in The Las Vegas Review-Journal this morning is reporting that Zyen LLC, one company that The Fertitta Brothers have used to help finance Xyience, has won a battle in bankruptcy court to loan more money to Xyience.
According to Edwards, Zyen LLC can now loan up to $2.6 million USD to Xyience.
Topics: Media, MMA, UFC, Zach Arnold | 7 Comments » | Permalink | Trackback |
In a span of months, John Edwards has gone from running for president to writing articles for the Las Vegas Review-Journal!
In all seriousness, though, how long is this “UFC sponsoring itself through several different companies” business going to go on?
I dont understand… WHAT are they trying to hide??
Seriously. I know you guys are journalists (Zach and Ivan) but do you have any guesses you’d be will to put forth (perhaps under assumed identities) as to wtf is going on here?
I’m usually pretty good at figuring tings out and I just can’t why a company would behave like this unless they wanted to take control of the assets and trademarks of another company. But what does Xience have that anyone would want?
They’re just taking money out of one pocket and putting it into another. I don’t see why everyone thinks this is such a big deal. Like someone else stated a while back (maybe Jeremy?), there are probably covenants in the loan giving Zuffa the option to convert the debt into equity ownership.
Maybe they see long-term growth in that business and they see synergistic possibilities among their properties (Station Casinos, UFC, etc).
Is there an illegal facet to this that I’m not seeing?
“Is there an illegal facet to this that I’m not seeing?”
No, but then you again you probably don’t like chasing consiracy theories in your free time.
This whole situation reminds me of the “Loose Change” 9/11 video. We have people with no inside knowledge or understanding of the events outside of news clippings, who get upset when things aren’t transparently obvious and intuitive to them.
To compare those interested in the Zuffa/Xyience story to 9/11 “truthers” who believe it was an inside job by the US Government is a dispicable tactic on your part.