UFC-Strikeforce Update – ProElite Inc. Interested, Network?

* A very important aspect not being talked about is the tape library they got in the purchase, which includes Strikeforce and EliteXC. Zuffa is looking to do its own channel similar to the NFL Network and also what WWE has planned.

* According to sources, ProElite Inc. was in active negotiations with the recently acquired Strikeforce. They had recently met face to face with CEO Scott Coker, and offers were made. The revamped company’s proposal to acquire the California-based promotion may have included cash and stock paid to Silicon Valley Sports & Entertainment, which is the sports-franchise company that owns Strikeforce along with Coker. Word is that Strikeforce generated $30 million in revenue for the 2010-2011 fiscal year, but that, “Silicon Valley was relatively happy with the returns but didn’t want to take it to the next level.” Another source claims that the sports franchise had been losing cash and had grown skittish with its investment. ProElite Inc. was the parent company of EliteXC, which hosted 21 events from 2007 to 2008, before mounting costs halted operations. EliteXC operational costs and its purchases of ICON Sport, King of the Cage, Cage Rage and other international promotions led to $55 million in losses.

BREAKING UPDATE: Brock Lesnar PISSED At The Deal – Leaving UFC Immediately?!