Replies to post #15846 on ProElite, Inc. (fka PELE)

[Lighthouse]

So what caused all promotion to stop in mid feb????...what sizeable opportunity has come up...????? lol



"We had a public company that was virtually clean," Feller said, "which fit into our strategy at a better cost-point. We might have to put another $45 to 50 million in to build it up, but at least we aren't starting from scratch."

While Feller and Kelly re-strategized ProElite's business plan over the next year, a sizable opportunity came in late 2010, when Silicon Valley Sports and Entertainment quietly put its 50 percent ownership stake of Strikeforce on the market to the highest bidder. Feller said he tendered an offer in an attempt to "bring the family back together."

"Negotiations went up close to the $20 million mark for us to acquire majority interest," said Feller. "That day, the UFC came over the top of us and doubled our offer."


Read more: http://sportsillustrated.cnn.com/2011/mma/10/13/pro-elite/index.html#ixzz1tZ49Q64i