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The story of ProElite’s demise doesn’t know which way it wants to go. First, they ran out of money and their lifeline decided to dump them. They’re supposedly filing for bankruptcy, except they don’t. Then, several fighters file for breach of contract to which ProElite responds with, “we’re running events in 2009.” Showtime is pissed because ProElite owes them a ton of money, so they file to hold a public auction to sell off all of ProElite’s assets, including fighter contracts, to recoup as much money as possible. ProElite says Showtime can’t do that and threatens to file a lawsuit to block the sale. Meanwhile, fighters’ agents are pulling out the laterns and pitchforks.

Or just buying time?

In response to several notices of breach of contract that managers Monte Cox and Cesar Gracie filed, ProElite has informed them that EliteXC still plans on promoting events.

From MMAWeekly.com:

“Elite XC and ProElite are currently downsizing its staff in an effort to improve its business moving forward,” the notice states. “As this process is implemented, Elite XC cancelled the event previously scheduled for Nov. 8 in attempt to re-schedule another event in early 2009.”

Carlos Arias of The OC Register was able to get Gary Shaw to talk a little bit about his thoughts on the fall of EliteXC. He steers clear of any specifics due to “pending litigation” but he does say he’s “not ashamed” of what he did during his time at ProElite. Shaw also talks about the fighters, specifically Gina Carano and Kimbo Slice, and like any good father would, he defends his son, $kala, from all the (warranted) attacks he’s received in the media.

As for the fighters who Shaw feels bad for, here’s Scott Smith’s perspective on the whole situation.

“I’ve been in camp for over eight weeks and I’ve been pushing myself hard. It’s one thing if [it happens] two months out from a fight, but two weeks? It’s devastating. Even if I lost, worst case scenario, (including sponsorship money) I would still be out close to $40,000. Until all the paperwork and everything is done I’m not going to be cleared to fight somewhere else before the end of the year. It’s close to the holidays, I got a mortgage to pay, I’ve got two kids, it’s tough.”

Yeah, Gary, do you feel bad enough to help the fighters and employees who you helped put in this situation? I’m sure you’re not hurting right now.

In this video from MDS at AOL Fanhouse, Dana White fields more questions from reporters on EliteXC and StandGate. He claims he “knows for a fact” that EliteXC paid Petruzelli to stand among other things. Also notable, without hesitation he shoots down any possibility of the UFC or WEC signing Gina Carano and building a women’s division. Here’s what White tells Dave Meltzer about it.

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