IFL LogoApparently, the one million dollars the IFL was asking for was just a little too rich for everyone’s blood. Despite signing many of the IFL’s fighters and even using IFL footage during the “Silva vs. Irvin” show, the UFC didn’t follow through on the highly rumored acquisition of the IFL, at least not yet.

According to a report from Sherdog.com, the IFL is bankrupt, still for sale, and it seems that IFL CEO Jay Larkin can’t wait for it to be all over with.

The International Fight League is looking to sell its last tangible assets — primarily the rights to its video library of fight footage — to the highest bidder. In a downward spiral for last few months, MMA’s latest promotional casualty filed for bankruptcy Tuesday.

IFL President and CEO Jay Larkin stated Tuesday that the company is currently looking for buyers, but that no deal had been finalized. Larkin did add that an announcement should be coming “in the next couple days” regarding a sale of the company’s remaining assets, which presumably includes its video library and possibly any remaining international television rights deals.

“You don’t always know what you got till it’s gone. There’s a lot of lessons to be learned,” said Larkin, a longtime boxing programming executive with Showtime. “One of the things I tried to do was do it in a more professional manner. The bottom line is, I feel MMA is a one-organization industry. I think UFC has done a spectacular job of branding, and UFC has become synonymous with MMA. And there’s a couple of hangers-on now. Wall Street’s having a hard time right now. I’d like to see MMA flourish but I’m very skeptical.”

Wonder if The Hex comes as part of the package.