I know history repeats itself, but I always thought that saying was only with larger scale historic shit like the US embroiling itself in useless wars and Russia sinking back into dictatorship. But it turns out that history repeats itself on a much smaller scale as well, because ProElite is happening all over again. Check out some of the highlights / warning signs from this article at MMA Junkie:
World-renowned boxing promoter Don King, the sometimes-controversial yet highly successful head of Don King Productions, is set to make his first venture into MMA.
King will partner with self-described “bad boy of Wall Street” Ross Mandell in the upstart RHM Productions.
While complete details of the new group’s business plan were not immediately clear, the company’s initial efforts are expected to begin with a reality show/documentary film series in the style of HBO’s successful “24/7,” which will use the program to build up the as-yet-unnamed promotion’s fighters before the debut event.
“I grew up with karate and judo and all that, but we never had stars. We never had events. Now, look at it. What was it, at the MGM (Grand Garden Arena) in January? [The UFC] grossed $110 million. I think 1.4 million people hit pay-per-view for $55 an event. It’s huge.”
RHM Productions plans to use Mandell’s past success on Wall Street as a means to establish the new promotion as a publicly traded entity. Mandell is the founder and former CEO of Sky Capital Holdings, an international full-service merchant bank and brokerage firm that is publicly traded on the London Stock Exchange.
Crooked boxing promoter? Check. Pinning hopes and dreams on a reality show? Check. Unrealistic expectations of success based on the UFC’s success? Check. Trying to raise money via stocks? Check. The main people in charge know nothing about MMA? Check! If this promotion lasts longer than a jenga game at Michael J Fox’s house, I’ll be amazed.
Still, with Affliction on it’s last legs MMA needs a new mark to burn a crapload of money on. Don King probably thinks he understands how to sell the sport, which means we should see some pretty epic retardation coming out of this company fairly soon. So I’m officially welcoming Don King and thanking him in advance for the 9 – 14 months of entertainment, embarrassment, outrage, and shock they’ll cause before folding faster than a 6 year old sweatshop worker in the end. And here I thought 2009 might be boring.