ProElite

ProElite, Inc.
Public
Traded as Grey Market: PELE
Industry Sports promotion
Founded 2006
Headquarters Los Angeles, California, United States
Key people
 William Kelly President & Chief Operating Officer, Glenn Golenberg, Douglas De Luca, Lloyd Bryan Adams, Executive Producer http://lloydbryanadams.wordpress.com/
Subsidiaries EliteXC, Cage Rage, Spirit MC, Icon Sport, King of the Cage
Website http://www.proelite.com/

ProElite, Inc. is an American entertainment and media company involved in the promotion of mixed martial arts (MMA).

First incarnation

Founded in 2006 in partnership with Showtime Networks Inc. (a CBS Corporation subsidiary), the firm initially promoted live MMA events broadcast on Showtime and Showtime PPV under the EliteXC promotional banner.[1]

CBS contracted with ProElite to show live events on prime time network television[2] with the first airing scheduled for May 31, 2008.

A focal point of ProElite's live event promotions was Elite XC. Running its first show in 2007, it quickly became one of the most visible brands in mixed martial arts in the United States. ProElite also acquired several long-standing mixed martial arts promotions since its founding, including King of the Cage, Hawaii-based Icon Sport, and British promotion Cage Rage.[3] The company also had working relationships with Rumble on the Rock,[1] Japanese-based DREAM,[4] South Korean-based Spirit MC, and Northern California-based Strikeforce.[5]

ProElite also operated ProElite.com, a web portal with social networking for MMA fighters and fans and live streams of MMA bouts not broadcast on Showtime.

Second incarnation

In March 2011 ProElite was rumored to be the unsuccessful second bidder against the UFC in an attempt to acquire rival MMA promotion Strikeforce. The offer was said to exceed 40 million dollars. Principals at ProElite immediately confirmed the companies intention to re enter the MMA live event promotional business as they had with the record breaking Kimbo Slice events on CBS.

Rumors immediately began circulating that ProElite was targeted as a strategic acquisition by either the UFC or an unidentified third party investor wishing to enter the MMA promotional space. PELE.PK stock jumped from .01 per share to more than .20 per share in two days as investors realized the stock routinely traded at $15 per share while ProElite was promoting live events.

In June 2011, Stratus Media Group secured a 95% ownership of ProElite.[6] The group confirmed their intention to return to promoting mixed martial arts with former ICON owner T. Jay Thompson and former Strikeforce matchmaker Rich Chou brought on board to run the show.[7] The company's return show took place on August 27, 2011 in Hawaii and streamed live on Sherdog.com.

ProElite announced a partnership with DREAM to share fighters shortly before it went out of business. This partnership made possible a fight between Kendall Grove and Ikuhisa Minowa in ProElite 3 in early 2012. After this event ProElite has seemingly gone out of business.

Events

Event Date Location Venue Broadcast
ProElite: Grove vs. Minowa January 21, 2012 Honolulu, Hawaii, United States Neal S. Blaisdell Center HDNet
ProElite: Big Guns November 5, 2011 Moline, Illinois, United States i wireless Center HDNet
ProElite: Arlovski vs. Lopez August 27, 2011 Honolulu, Hawaii, United States Neal S. Blaisdell Center Sherdog.com

Key people

Controversy

As the company was established the man who initially had the idea to launch ProElite, Wallid Ismail, was pressured to have signed out all of his rights, with the other stakeholders gaining complete control over the startup.[8]

References

  1. 1 2 "SHOWTIME TO TELEVISE MIXED MARTIAL ARTS EVENTS". 2006-11-13. Retrieved 2007-09-16.
  2. ↑ "CBS to Air MMA Events". 2008-02-28. Retrieved 2008-03-03.
  3. ↑ Pishna, Ken (2007-09-13). "PROELITE CONTINUES EXPANSION, ACQUIRES KOTC". MMAWeekly.com. Retrieved 2007-09-16.
  4. ↑ "PRO ELITE & DREAM ANNOUNCE PARTNERSHIP". 2008-05-10. Retrieved 2008-05-18.
  5. ↑ "Elitxc and Strikeforce Create Strategic Alliance". 2007-01-31. Retrieved 2007-09-16.
  6. ↑ "Stratus Media Group Secures 95% Ownership of ProElite". 2011-06-21. Retrieved 2011-07-05.
  7. ↑ "Pro Elite Targeting August for Return; T. Jay Thompson & Rich Chou on Board as Executives". 2011-06-27. Retrieved 2011-07-05.
  8. ↑ http://online.barrons.com/article/SB121219578354834593.html/
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