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Pro Elite assets to be auctioned off on November 17th
By Zach Arnold | November 4, 2008
Form SC 13D – General statement of acquisition of beneficial ownership
On October 31, 2008, Showtime gave the Issuer a notice pursuant to the Security Agreement, as amended, that it intends to sell all of the Issuer’s personal property, whether tangible or intangible, to the highest bidder at a public sale to be held on November 17, 2008. Showtime reserves its rights under the Security Agreement, as amended, and applicable law to adjourn or cancel the sale and thereafter dispose of such property in a public or private sale or in any other manner provided by applicable law.
Topics: Media, MMA, Pro Elite, Zach Arnold | 8 Comments » | Permalink | Trackback |
NOTICE OF PUBLIC SALE
Notice is hereby given that the Collateral (as defined below) will be sold by Showtime Networks Inc. (“Showtime”) at a public sale on November 17, 2008 at 10:30 a.m. (Pacific Standard Time) at the offices of Hughes Hubbard & Reed LLP, 350 South Grand Avenue, Los Angeles, California 90071. The term “Collateral” means all of ProElite, Inc.’s (“ProElite”), Real Sport, Inc.’s (“Real Sport”), ProElite.com’s (“ProElite.com”), EliteXC Live’s (“EliteXC”) and King of the Cage, Inc.’s (“KOTC”; each of ProElite, Real Sport, ProElite.com, EliteXC and KOTC, a “Debtor” and collectively, the “Debtors”) right, title and interest in, to and under, whether now owned or hereafter acquired by such Debtor, all present and after acquired personal property of such Debtor, whether tangible or intangible, wherever located and of whatever nature. The Collateral includes all contracts between any Debtor and mixed martial arts fighters (including, but not limited to, Kevin Ferguson a.k.a. “Kimbo Slice”, Gina Carano, Jake Shields, Robbie Lawler, Frank Shamrock, Antonio Silva, Brett Rogers, Dave Herman, Scott Smith, Nick Diaz, Cristiane Venancio Justino a.k.a. “Chris Cyborg”, Eddie Alvarez, Yves Edwards and Wilson Reis) and all of each Debtor’s video library, still photographs and home videos (e.g., DVDs and VHS tapes). The Collateral will be sold to the highest qualified bidder in public on November 17, 2008 at 10:30 a.m. (Pacific Standard Time) at the offices of Hughes Hubbard & Reed LLP, 350 South Grand Avenue, Los Angeles, California 90071. The Collateral will be sold on an “as-is, where-is” basis, without recourse, warranty or guarantee of any kind, express or implied, including as to title, possession, enforceability, validity, merchantability or fitness for a particular purpose. Interested bidders who would like further information regarding the Collateral to be sold should contact Kent Sevener at (212) 708-3259. Showtime reserves its right to adjourn or cancel the sale at any time.
“The Collateral includes all contracts between any Debtor and mixed martial arts fighters (including, but not limited to, Kevin Ferguson a.k.a. “Kimbo Slice”, Gina Carano, Jake Shields, Robbie Lawler, Frank Shamrock, Antonio Silva, Brett Rogers, Dave Herman, Scott Smith, Nick Diaz, Cristiane Venancio Justino a.k.a. “Chris Cyborg”, Eddie Alvarez, Yves Edwards and Wilson Reis) and all of each Debtor’s video library, still photographs and home videos (e.g., DVDs and VHS tapes).”
Let’s pool our resources here at FO and buy Carano!
Seems someone can get Carano pretty cheap.
I wonder if the former owners of KOTC will have the chance to buy all their stuff back or if Zuffa will buy it all to drive a stake in their heart.
i bid $1.
For 15$ can I get the dragon from their first show?
[…] and Fighter Contracts are included. It’s a sad state of affairs, but it is a reality. The Pro Elite assets are to be auctioned off on November 17th.In some good news for MMA fans, ‘Big’ John McCarthy makes his long awaited return to referee […]
I bid thirty bucks for Gina Carano!
But seriously I think many of the fighters and promotions bought out by ProElite are screwed for the time being.