MMAInsider caught up with King of the Cage president Terry Trebilcock on Wednesday, who said he is "confident that negotiations are going well" with executives from Pro Elite and CBS.
Trebilcock's company, with backing from private investors, is one of a handfull of MMA promotions and business interests vying for Pro Elite's assets, including fighter contracts and existing broadcast deals with Showtime and CBS. As one of the remaining promotions still operating under the fallen company, there is strong speculation KOTC may be funding some, if not all, of Pro Elite's operating expenses. In October, Pro Elite's cash reserves drifted below $550,000 when Showtime called in an existing loan to the company.
According to Trebilcock, one of the many factors slowing down the deal is the roles of the remaining Pro Elite executives, including CEO Chuck Champion, in the new promotional entity.
In anticipation of a possible deal with CBS and Pro Elite, Trebilcock has lined up venues in New Mexico and Southern California for a possible March event, though he wouldn't say where.
However, the logistics of the deal, as well as the personalities involved in its transaction, appear to provide no timeline for its completion.
"They're slow playing us," said Trebilcock.
2 comments:
I hope they hurry with this deal already. We want to see fights and the fighters need to get paid.
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