Oh, new K-1. You were supposed to be better than old K-1, but instead you’ve just limped along as a sad reminder of how far the brand has fallen. The company’s big 2012 Grand Prix finals were supposed to be held in December in New York City, but those plans quietly fell apart. Now a second US K-1 show has been cancelled:

It was recently announced by Steve Fossum, President and CEO of International Fight Sports, that the K-1 event scheduled for February 28 in Ohio has been canceled due to financial reasons.

According to Fossum, he was directly contacted by the Ohio Athletic Comission, who confirmed that the event, slated to take place during Arnold Classic Sports Festival next week, would not be happening. They cited “financial matters associated with the K-1 HQ” as the primary motivation behind the cancellation.

On the plus side, the 2012 Grand Prix will allegedly be wrapped up in March in Croatia. Also allegedly set to appear at that event: Badr Hari, which should be interesting since months in prison has left him looking rather … sleek. Yes, let’s stick with that description.