ProElite, Inc. (fka PELE)

[Lighthouse]

ProElite shopping a media deal for November show, but network TV not imminent

Posted by Admin on August 21, 2011



ProElite head of fight operations T. Jay Thompson said Tuesday that hed love to take the revitalized company to network TV.

But right now, the company has neither the infrastructure nor roster to make that leap.

We are really going to grow this company at a correct pace, Thompson told MMAjunkie.com (www.mmajunkie.com). I dont want a lot of crazy growing pains and mistakes being made.

As of late, ProElite is thought to be doing just the opposite. A report issued this week said the publicly traded company is close to a deal that will see the company return to its former broadcast partners three years after it collapsed amid financial troubles.

Thompson said the report is bogus. ProElite is, however, talking with potential TV partners for an event planned for sometime in November in Atlantic City, NJ The company hopes to have a deal wrapped up in the coming months.

But as of right now, the plan is slow and steady. The companys first MMA event since its 2009 financial collapse is scheduled for Aug. 27 at Blaisdell Arena in Honolulu and will stream live on the Internet. A heavyweight matchup pitting former UFC champion Andrei Arlovski vs. Ray Lopez headlines.

We were almost going to do it off the radar, Thompson said. Were getting a lot of attention, which is great, but were just getting up and running. Were not a major competing MMA company right now; were just getting our legs under us and grow organically and get a grassroots following.

I could see us having an entry-level television deal by the fall, by our November show … And when I say entry level, it probably wont be a major network. And theres nothing wrong with that; its kind of the way we want to grow.

Thompson said the company is also open to the possibility of a pay-per-view card, though thats not the primary focus at the moment.

With the right card, there are ways of doing pay-per-view and being successful without doing a million buys, he said. So we have all options on the table.

This past June, Stratus Media Group acquired a 95 ownership of ProElite one month after securing $14.1 million in additional financing to fund operations.

Two years after its launch in late 2006, ProElites previous owners burned through $55 million. In their fast rise, they were the first MMA company to secure a network TV deal to broadcast live events on CBS and Showtime. In February 2009, Strikeforce purchased select assets of the ailing company and struck a deal to air up to 16 events per year. MMA hasnt returned to CBS since a brawl broke out on-air during a CBS-televised Strikeforce event in April 2010. The California-based company was acquired by UFC parent company Zuffa, LLC this past March.

An MMA promoter of 20 years who served as a consultant to the old ProElite, Thompson has seen the seismic shifts in the sports landscape and has seen the dangers of growing too quickly.

My job is to put the company in a position to capitalize on the big opportunities, he said. So we need to be around in six months, 12 months, 24 months, and thats just being fiscally responsible with a little TV deal and putting on good MMA shows and entertaining audiences.

Were going to end up on top of the world if we do that, but were not going to do it by jumping to the top of the world on our first show.

Last modified on August 21, 2011

http://www.terrorvision.tv/2011/08/21/proelite-shopping-a-media-deal-for-november-show-but-network-tv-not-imminent/