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.