ProElite released it’s SEC filing yesterday, and there’s a good amount of information in there for anyone proactive enough to dig through it. If you’re looking for a quick breakdown of the numbers (but no perspective, for shame), then you can check out Bloody Elbow. Me, I’m less interested in the numbers … I went digging for dirt, and found some pertaining to the whole Frank Shamrock / Strikeforce / EliteXC situation:
On January 23, 2007, West Coast filed a civil action against Frank “Shamrock” Juarez (“Shamrock”), and sought and obtained a temporary restraining order which prohibited Shamrock from fighting in the Company’s February 10, 2007 event. The Company subsequently entered into a settlement agreement on February 5, 2007, pursuant to which West Coast dismissed its civil action and agreed to permit Shamrock to fight in the February 10, 2007 event.
The Company agreed to pay an aggregate of $250,000 to West Coast, out of future compensation due to Shamrock from the Company under the personal services agreement. The Company also entered into a co-promotion agreement with West Coast, pursuant to which it agreed to co-promote up to three live MMA events that feature Shamrock. To date the Company has paid West Coast $100,000 of the $250,000 owed. The remaining portion totaling $150,000 will be paid to West Coast from future co-produced events. A liability has been accrued for the $150,000 at December 31, 2007.