EliteXC Files for Bankruptcy, Bye Bye Kimbo Slice! The MMA Company that has brought you some of the most exciting fights your eyes had ever witnessed, and the “biggest upset in MMA history” has had enough thrill-seeking adventures, and it’s calling it quits. The now infamous “EliteXC” MMA brand will cease to exist at week's end, leaving a roster of unemployed fighters, which include Kevin "Kimbo Slice" Ferguson and Gina Carano.

EliteXC becomes just one of the many high-profile MMA companies to fold to Zuffa’s Ultimate Fighting Championship during the past year, including International Fight League (IFL) and Bodog Fight.

In just 2 years of operation, the EliteXC lost more than $55 million. With deals with CBS and Showtime, Elite XC had the exposure the other failed challengers lacked. Among its many deficits, there are bad television deals with Showtime (who owns 20% of ProElite) and CBS.

With every televised show, EliteXC was just digging a deeper hole, which they hoped Kimbo Slice and Gina Carano could rescue them from. But in the process, they lost millions on trying, and failing, to build a street fighter into a legitimate mixed martial artist over night. Also, they lost plenty of doug on building a website that “was designed to be a destination for the MMA communities”.

So, will we see Kimbo Slice and Gina Carano fighting in the Octagon soon? I don’t think so, but you never know. Although, UFC president Dana White has repeatedly said he won’t use Kimbo Slice in the UFC, simply because he doesn't consider Kimbo to be even a mid-level MMA pro. Before Slice’s last fight, Dana was quoted as saying “Kimbo sucks”, and that even though Shamrock shouldn’t even be fighting anymore, he might still beat Kimbo.

As far as Gina Carano is concerned, White has also has said that he’s not interested in promoting women’s fighting. But I wouldn’t rule out the possibility. After all, if there’s money involved, there’s basically grass on the field. Several agents for EliteXC fighters have been in contact with the UFC, one I believe is worth mentioning is welterweight champion Jake Shields.

The straw that might have broken the camel’s back in this case, was this statement by Seth Petruzelli: “The promoters kind of hinted to me and they gave me the money to stand and trade with him (Kimbo Slice),” Petruzelli said two days after the Kimbo-fight on “The Monsters in Orlando” radio show. “They didn’t want me to take him down. “Let’s just put it that way. It was worth my while to try and stand up and punch with him.”

Those comments, began a storm of controversy and an investigation by the Florida Boxing Commission into the practices of the EliteXC. Days before the investigation got under way, EliteXC exec. Jeremy Lappen stated that they welcomed any Florida officials to come in and investigate as much as they wanted; that EliteXC had nothing to hide. However, his bluff was quickly uncovered as soon as the investigation started: "Immediately, Showtime pulled out of negotiations and people inside the company were being told all day that Elite XC was shutting down," (Yahoo.com).

The famous Gracie Jujutsu family posted this on their Graciefighter.com Website: “We are confirming that EliteXC has folded. What this means for our fans and supporters is that there will not be a Nick Diaz vs. Eddie Alvarez fight on Nov. 8." 

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