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Zuffa Purchases IFL
POSTED: July 24, 2008 - 4:15 pm
CATEGORIES: MMA, International
The long speculated moratorium of the International Fight League now has a date. According to IFL senior vice president of communications Joe Favorito, the team-based MMA promotion will turn out the lights July 31 as its assets are sold to a yet-to-be-named buyer, confirmed today by several anonymous sources as the UFC ownership group Zuffa LLC.
“As of July 31 my role at the IFL will be no more as the company goes into its final stage of being sold and/or closed down,” Favorito stated via email.
Favorito, who cited the financial deficit of the company as the reason for the sale says he is proud of what the IFL was able to accomplish in the sport.
“We are very proud of what we did here in just over two years, building a brand from nothing into something that people in the industry and outside of the industry actually noticed, and I enjoyed working with so many different people and helped tell some great stories,” added Favorito. “ At the end of the day sometimes the finances don't make sense, but it certainly wasn't for lack of trying.”
The buyout, which will mirror Zuffa’s takeover and subsequent closure of the now defunct WFA and PRIDE FC organizations in 2007 will see the UFC and WEC’s parent company take control of the rights to current IFL contracts as well as the promotion’s video library.
Founded in 2006, the IFL has been a breeding ground for up-and-coming mixed martial artists such as Wagnney Fabiano, Chris Horodecki, Ben Rothwell, Ryan Schultz and Roy Nelson who may now all be headed to the WEC or UFC.
As of time of writing, representatives from Zuffa had not responded to a request for comment on the acquisition.
COMMENTS (12): Submit A Comment
1. Rishi
July 24, 2008 - 4:35 pm
maybe not Ben Rothwell.
2. hj1
July 24, 2008 - 5:57 pm
Nor Big Country Nelson. He was on hdnet talking smack about the UFC and Anderson Silva
3. Michael
July 24, 2008 - 10:49 pm
I certainly hope this is correct as many investors are looking for a huge jump in the share value of IFLI.
4. Marco
July 25, 2008 - 12:28 am
I can see the shares being bought out at their worth of 2 cents from investors with the proceeds of the sale or at a discounted price if they declare chapter 11. Zuffa won't keep the IFL, just its assets like they did with the WFA and Quinton Jackson's contract.
5. Michael
July 25, 2008 - 10:10 am
It could go either way, the UFC may be looking for a means of going public, and this would be it.
6. Damon
July 25, 2008 - 1:47 pm
Nelson may not have a choice but to fight for the UFC. IF he is under contract and if that contract carries over to the UFC then he is at their mercy. If he wants to make waves then the UFC can put him on the shelf for as long as he has left on his contact, only give him fights when they have to and just put it on the under card. Basically making him disappear.
Fighters talk smack all the time, but if he knows whats good for him, he needs to act like he is a UFC homer, get all the exposure he can and then jump ship when his contract is up, if he still wants to. But really, it makes more since for him to fight for the UFC because they have no real good heavyweights outside of Nogera and a couple of others, so he could be a big player there and build a name. Out side of the UFC he would have to face the likes of Fedor, Barnett, Arlovski, all guys who could crush him.
7. James Wright
July 25, 2008 - 2:00 pm
I truly dislike Dana White and the way he conducts himself business wise. That being said if the UFC proclaims themselves as having the world's top elite fighters why the hell has the UFC not already scooped up Ricardo Arona??? This guy has reasonably recent wins over some of the top guys in the industry!
8. D.G.
July 25, 2008 - 3:36 pm
And Dana White gobbles up yet another promotion.
9. steve boogie
July 25, 2008 - 3:36 pm
they haven't picked up ricardo arona because ricardo arona is fucking boring. his style will not please a western audience in 2008. 'reasonably recent wins' doesn't help you when you got executed by sokoudjou in 1 minute and that was over a year and a half ago. that was the worst example you could've cited but you did so because you don't like the fact that dana is brash and curses, and you think he should be a stuffy golf dope like every other suit. WHAT SETS THEM APART has SET THEM APART and they're the foremost organization by leaps and bounds and it's not even close. Having 4 or 5 heavyweights doesn't mean you're a competitor with a roster that has 200 guys who could be on tv in any other organization.
10. James Wright
July 26, 2008 - 1:23 pm
EAT MY ASSHOLE Mr. boogie
11. FMD
July 27, 2008 - 10:24 pm
TKOVIDEOS.COM --- TKOFIGHTNETWORK.COM
12. captbly
July 28, 2008 - 10:04 pm
Just bought up some IFLI stock. Lets hope the price per share really takes off
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