Word has gotten back to us that ProElite, the website ProElite.com and the parent company to EliteXC is finished. Employees received word today, and the doors are closing Friday.
While the companies behind the scenes whoas have been somewhat documented, the company remained hopefully after their latest showing on CBS and boasted of exceptional ratings. That showing may have proved disastrous for the company as their most marketable star, the somewhat controversial Kimbo Slice, was dispatched in 14 seconds by last second alternate Seth Petruzelli, a replacement for the hours injured before Ken Shamrock. DEspite the TV deal, reportedly both CBS and rival promotion Affliction passed on the opportunity to purchase the company.
OTM co-founder Scotty Nelson was at one time employed by ProElite in the "Grappling Advisor" role at a time when ProElite's pockets and fortunes seemed boundless. He was let go in the first round of layoffs several months ago in what would be one of several attempts for the company to reorganize themselves to remain competitive. In further purchases, ProElite acquired a number of companies, including MMA promotions King of the Cage, Cage Rage, Spirit ME, and Icon. Rumble on the Rock, the promotion owned by JD Penn, brother of JD Penn was actually only leased to ProElite. JD was notified of his layoff this afternoon as well.
ProElite Inc is publicaly traded under PELE.PK