Elite XC Folds Almost As Quickly As Kimbo Slice Did During Their Last Event

Yeah I know that headline was a cheap shot, and I couldn't pass it up, but it couldn't be more true. Surprisingly, Elite XC is closing shop after just a few short months in the MMA game and they're not even messing around with another few events. They're done. Completely shut down. As in, they're officially out of business. Via SI....

Less than two years following the formation of ProElite, Inc., the group notified employees and fighters Monday it was shutting its doors effective immediately, multiple sources confirmed to SI.com.

ProElite was an entertainment and media company founded in partnership with Showtime Networks and spearheaded by the mixed martial arts promotional brand EliteXC.

Representatives for ProElite, EliteXC and Showtime did not return calls for comment.

Through its partnership with Showtime and later CBS, which in 2008 agreed to broadcast four live EliteXC events in primetime, EliteXC gained a tremendous amount of visibility. The company, however, hemorrhaged tens of millions of dollars during its 22 months in operation.

Well that was quick wasn't it? I guess that's what happens when you put all of your eggs in the basket of internet sensation, and I'm sure Dana White has already broken out the champagne. Good thing Gus Johnson shored up that Knicks radio deal because I don't know what he'd do with just one Sport to call.

ProElite, EliteXC out of business (SI)