Zach Arnold took the time to poke through the IFL’s quarterly report, and here’s what he found out:
- No Zuffa sale
- 35.7 million in debt
- 1 million in cash available
- Four employees left
- 1.2 million needing to be paid to coaches to fulfill their contracts.
The Zuffa thing falling through isn’t too surprising considering all the talent that ended up going elsewhere. I have to wonder if they engaged in talks with the IFL just to string them along and waste their time. Now that all the worthwhile fighters are gone, what exactly does the IFL have left to offer anyone? A video library? Maybe someone will pay a few bucks so they can license that stuff to channels like the Fight Network, but that’s about as far as any deal will go now.
That last one is interesting: they have 6 coaches still under contract to receive paychecks every two weeks, and for some this is supposed to go on until 2013. They use a bunch of fancy legaleese in the filing to basically say they’re trying to get out of the contracts without having to pay them, but the coaches are resisting. Jeez … 2013? Genius.