View Full Version : EliteXC in trouble


1bad65
05-24-2008, 12:05 PM
Gary Shaw, the Live Events President of EliteXC, held a conference call on Tuesday. Highlights include:

Shaw addressed recent rumblings that Pro Elite has spent much more than it could ever recoup and is in danger of going under. A publicly traded company, Pro Elite has posted losses of $31.3 million through 2007. "Are we losing money? Yes, we're losing money," Shaw said. "Are we going to be here long term? Yes, we're going to be here long term. We're the only company out there that has a Showtime-type deal and a CBS deal. Nobody else has that to offer any athlete.

Shaw verified that fighters in EliteXC events will not be allowed to wear Affliction-branded clothing due to the clothing giant's decision to promote its own rival event on July 19. "I think they're gonna find out that they're better off in the clothing business," Shaw said. "Stick with what you know, stick with what you do best and don't try and be somewhere that maybe you shouldn't be. Maybe they'll do one or two fights. My prediction will be that they'll be back in the clothing business."

While Affliction's July 19 event at the Honda Center in Anaheim, Calif., will tout a deep lineup of notable names in the industry, including a formidable main event between former Pride heavyweight champion Fedor Emelianenko and UFC counterpart Tim Sylvia, Shaw remains unconvinced. "Names don't make the fights," he commented. "The fighters make the fights, not the names of the fighters."

While UFC rakes in the cash, Shaw can't lose it fast enough! He criticises Affliction for getting into MMA and not knowing MMA when he is a long-time boxing promoter. He criticises Affliction for having big-name top ranked fighters as a bad idea, while he pushes circus acts like Kimbo as his poster child.

I bet Affliction doesn't lose $31.3 million!

Blair_Wells#32
05-24-2008, 12:36 PM
"Stick with what you know, stick with what you do best and don't try and be somewhere that maybe you shouldn't be. Maybe they'll do one or two fights. My prediction will be that they'll be back in the clothing business." -Gary Shaw
:haha:
pot callin the kettle black i believe the saying is,he should go back 2 boxing an stay there.
:D grinning from ear 2 ear when i heard how much they were losing, who knows maybe by this time next year we'll see cung le vs franklin or silva. big foot silva vs cro cop.
hell maybe Dana will Sign Kimbo 2 a one fight deal so Brock could pound him into retirement.

boxingscenefan1
05-24-2008, 12:44 PM
Shaw expected losses though early on. The UFC lost $35million before becoming profitable and that was over a 7 year period.

Next Saturday's CBS show will show what happens with EliteXC.

Gareth Ivanovic
05-24-2008, 02:00 PM
Man maybe that's why he's hyping the hell out of Slice of Pizza. So he can cut back on those loses.

Virgil Caine
05-24-2008, 02:03 PM
Shaw expected losses though early on. The UFC lost $35million before becoming profitable and that was over a 7 year period.

Next Saturday's CBS show will show what happens with EliteXC.
Exactly.

Also, EliteXC was buying stakes in so many companies last year that I'm not surprized at all that they had a negative cash flow.

That's not to say that EliteXC is necessarily destined to succeed, but I think the numbers are deceiving.

Taking shots at Affliction is a little cheap, whatever happened to "We'll invite all fighters from all promotions to fight for our belts." Not that I can really blaim him though, I'd feel threatened as **** too by the card Affliction's putting on.

Spare Moody
05-24-2008, 04:34 PM
why do these organization presidents have to be such douchebags?? the fighters are 10X more mature and respectful and they're ones beating the **** outt've eachother!

and WTF is this ****:
"Names don't make the fights," he commented. "The fighters make the fights, not the names of the fighters."
every fighter has a name. stupid.

boxingscenefan1
05-24-2008, 04:58 PM
Exactly.

Also, EliteXC was buying stakes in so many companies last year that I'm not surprized at all that they had a negative cash flow.

That's not to say that EliteXC is necessarily destined to succeed, but I think the numbers are deceiving.

Taking shots at Affliction is a little cheap, whatever happened to "We'll invite all fighters from all promotions to fight for our belts." Not that I can really blaim him though, I'd feel threatened as **** too by the card Affliction's putting on.

Yeah they bought up a surprising amount of smaller companies.

Affliction is really going balls to the wall with their first card.

1bad65
05-24-2008, 06:51 PM
pot callin the kettle black i believe the saying is,he should go back 2 boxing an stay there.

He pretty much was driven out of boxing. Guys like Jeff Lacy refused to fight on any card he was involved in.

1bad65
05-24-2008, 07:02 PM
Shaw expected losses though early on. The UFC lost $35million before becoming profitable and that was over a 7 year period.

Not true. Shaw tried to 'strike while the iron was hot', and he still lost tons of money. MMA is hot right now, if you can't make money promoting MMA shows then your clueless. These small little local shows are making money. If they can do it, a publicly owned company liek EiteXC should be making a killing.

Not only is his main draw Kimbo, his color man is Bill Goldberg! The guy is clueless in terms of MMA.

Oh, the reasons UFC was losing money are now fixed. When Zuffa bought it, they were stuck with the over-inflated contracts the previous owners made with the fighters. MMA was still billed as 'No Holds Barred Cagefighting'. It was illegal in many states. What Zuffa did was market MMA as a sport, not a carnival. Dana White actually worked with State Athletic Commissions to get unified MMA rules so MMA would be legal in many more states. He hired Marc Rattner, the director of the Nevada State Athletic Commission, to work on that issue and to give MMA credability.

EliteXC has no excuse for losing that kind of money other than the incompetance of Gary Shaw.

neils7147933
05-25-2008, 07:15 PM
He pretty much was driven out of boxing. Guys like Jeff Lacy refused to fight on any card he was involved in.
Shaw's promoted a lot of recent events.

Do you follow boxing?

Within the past 6 weeks, there has been Bradley vs. Witter, Dirrell vs. Hanshaw, Dawson vs. Johnson

http://www.garyshawproductions.com/About***37;20Us.shtml

Mr. Shaw has promoted or co-promoted many of the biggest grossing fights in boxing history, including Lennox Lewis vs. Mike Tyson, the biggest grossing pay-per-fight with 1.8 million PPV buys, generating approximately $103 million in gross PPV revenue; Felix Trinidad vs. Fernando Vargas; Lennox Lewis vs. Vitali Klitschko; Winky Wright vs. Felix Trinidad; Diego Corrales vs. Jose Luis Castillo and Shane Mosley vs. Winky Wright. Mr. Shaw has also promoted or co-promoted many of our generation***8217;s greatest world champions, including: Lennox Lewis, Mike Tyson, Shane Mosley, Fernando Vargas, Arturo Gatti, Winky Wright, Manny Pacquiao, and Diego Corrales. Mr. Shaw created the initial concept and helped develop the TV series ***8220;ShoBox: The New Generation,***8221; a live boxing program still running monthly on SHOWTIME.

neils7147933
05-25-2008, 07:16 PM
Shaw expected losses though early on. The UFC lost $35million before becoming profitable and that was over a 7 year period.

Next Saturday's CBS show will show what happens with EliteXC.
Exactly, that's why it's called an investment, though maybe ProElite should quit buying smaller feds until they've gotten their brand name better established