EliteXC will close its doors this week, parent company ProElite, Inc have announced.

Although at time of writing, EliteXC were yet to confirm the news, sources late on Monday let it be known that ProElite had made the decision in what is a spectacular collapse.

Mounting financial losses and questions surrounding the handling of its scheduled November 8 card in Nevada were largely to blame for the promotion which was MMA’s number 2 promotion in North America behind the UFC.

A television deal saw EliteXC on network television in a prime-time deal with CBS, helping to raise the promofile of MMA as a whole with sports fans and mainstream media.

But the promotion has been dogged with problems and critics since day one, from its WWE-esque production of shows right through to how Kevin ‘Kimbo Slice’ Ferguson was pushed as a star despite his lack of experience.

But the most biggest blow for EliteXC has been the perception that it tried to influence the outcome of the fight between Slice and Seth Petruzelli earlier this month.

During an interview with a radio station following the bout, Petruzelli implied that EliteXC officials encouraged him to strike with Ferguson, rather than take him to the ground, where Petruzelli would have a decided edge in the fight.

“The promoters kind of hinted to me and they gave me the money to stand and trade with him,” Petruzelli told the “The Monsters in Orlando” show. “They didn’t want me to take him down; let’s just put it that way.

“It was worth my while to try to stand up and punch with him.”

Those comments led to an investigation by the Florida Boxing Commission.

Although EliteXC are yet to confirm they are out of business, there is an outside chance that Showtime could rescue them.

Showtime currently own around 20 per cent of the company and although their interest has fallen since the Slice-Petruzelli fight, EliteXC are expected to attempt to enter last-ditch talks with a view to Showtime investing a larger chunk of money.

ProElite has lost more than $55million since it was founded in 2006. EliteXC produced its first show in February of 2007.

Phil Lowe
phil@ifight365.com