Betting The Farm On ‘Primetime’
It’s been no secret that ProElite, parent company to EliteXC, has lost millions upon millions of dollars. With ProElite being a public company, we’re afforded the opportunity to see the company’s financial health or lack thereof—something the UFC guards like Fort Knox. Because ProElite is so deep in the red, there have been growing concerns about the company’s future. ProElite’s only saving grace appears to be their deal with CBS, and they know it. Their debut event on CBS will be as much of a make or break moment as one can be.
So critical to ProElite’s future that it looks like they may have broke the bank on it.
Sources have told MMAPayout.com that the company is believed to be seeking $5 million in additional funding. There were rumors earlier this month that the company had bet the farm on its CBS debut and would be in need of additional funding to continue past June 1.
This situation sounds eerily similar to the UFC’s going into the The Ultimate Fighter Season 1 Finale. Their deal with Spike TV was up, and they needed something spectacular to happen to have another shot on Spike and keep the company afloat. And it did in Forrest Griffin and Stephan Bonnar. It was their make or break moment, and they made it.
‘Primetime’ Ticket Sales Strong
While we won’t know the ratings until the days following EliteXC ‘Primetime’ on CBS, we can find out how ticket sales are doing, and according to a report on Sherdog.com, tickets sales are going very well.
Ticket sales for the historic May 31 event on CBS have reached the 5,000 mark, according to the Prudential Center’s box office in Newark, N.J., with a boost anticipated in the final two weeks leading up to showtime.
With additional tallies expected from a strong contingent of local fighters on the undercard, New Jersey Athletic Control Board Deputy Attorney General Nick Lembo estimates the show is on track to becoming the second highest paid-attendance MMA event in the Garden State to date.
That’s certainly a good sign. The last thing EliteXC needs is to have an arena with empty seats everywhere.