twitter google

IFL death watch

When I heard that the IFL was planning a conference call this week, I figured they were just feeling left out on all the ‘surprise announcement’ action going around and wanted to do something too. Well, looks like they actually have a pretty big announcement, but it’s not really a surprise:

The International Fight League (OTC.BB: IFLI ) today announced that it has canceled its scheduled August 15 event at the Izod Center in East Rutherford, New Jersey, in light of the company’s current financial condition. IFL continues to explore options for maximizing shareholder value. However, if the IFL is unable to successfully leverage any of those options, the company may seek protection from its creditors through a court proceeding.

The IFL is working with other top MMA organizations to keep its top fighters active in the sport and showcase their talent, while it pursues options that may enable it to continue its MMA operations. Several IFL athletes will compete on the Adrenaline MMA card in Chicago on June 14, and announcements with other promoters working with IFL athletes are expected in the near future. The IFL will also continue to downsize its staff to reduce costs.

Farewell, IFL. Congrats on lasting about 9 months longer than I thought you would! By the end there you were actually throwing some non-terrible events. It’s too bad you were run by morons.

  • it is too bad. they had some good fights and fighters. while they haven’t had the dirt officially thrown on ’em…


  • S. Jennum says:

    You mean the six-sided ring didn’t catapult them to the top of the MMA world?

  • such a fucking shame.

  • DonnyG says:

    Dang, we’re never gonna get to see the hex.

  • TUBBS says:

    Wait…the IZOD Center is in New Jersey? Really? 10,000 orange-tanned douchedbags w/ popped collars under one roof? srlsy?

  • kentyman says:

    Not even a seven-sided ring (The Hept?!) could save them now…

  • crs says:

    Is anybody really that shocked a company with a bunch of brain damaged fighters on its board of directors was a financial bust? I’d be shocked if Don Frye is even able to still do two digit addition in this stage of his career much less understand the finer points of financing.

  • Elfenstein says:

    dont worry about loosing the hex , we still got the pit pit aka yamma pit

  • I actually think the IFL is about to be reborn sometime around Thursday.

  • S. Jennum says:

    I like your thinking, elfenstein. Maybe we can combine the pit with the hex and have the HexPit.

  • Miko says:

    I almost bought the stock today because I saw the volume go up in the past few days. I must have a guardian angle. Is it possible they would be bought out?

  • Ark says:

    If you’re seeing guardian angels, it’s a side-effect of the massive stroke that left you severely brain damaged. Why are you thinking of investing in a company on the verge of bankruptcy?

  • ^ They’d buy them out to turn it around and run it better to make money. It’s a usual happening in the world of business- Buy when things are at their lowest and build it up to turn around and make it financially successfull while initionally spending very little money. Thats exactly what Dana and the Fertittas did with the UFC. So from the results of that, it seems to be a pretty good business model. And to further that its actually what they did with the WEC too.

    Plus theirs the intellectual properties, although very small in the IFL’s case. And fighters contracts, the UFC would add a boatload of young talent buying out the IFL.

    Not to mention theres the possibility of the IFL’s current sponsors like Vitamin Water and Muscle Milk would transfer their deals to the UFC. The same could be possible for the IFL’s deal with FSN, which would get the UFC a coveted partnership with a mainstream sports network. They’d also possibly get some employees and with the UFC’s rapid expansion they’ve been needing and adding new workers with industry experience since last year.

    So theres some good reasons to buy the IFL. And my suspicions have grown since Dana’s comments on CNBC on what the announcement will not be, and he didn’t include buying another organization on the list.

  • It’s not a bad idea, but again the whole “taking the company out for lunch” thing isn’t justified by an IFL purchase. But Zuffa would be stupid not to snap up Wagney Fabiano and the Palzfoiahfif;oiah and Heoroajpdeskis of he promotion.

  • Ark says:

    Buying IFL is a bad idea, and all the reasons Amy listed sound reasonable “in general”, but are actually horrible for IFL’s specific case. The simplest way to prove me wrong and show the strength of your convictions is to buy up some IFL shares today.

    It shouldn’t cost much as they just dropped 55% of their value.