Breaking news via metronieuws.nl

It's Showtime! owner Simon Rutz has said in a recent interview that K-1 will be declaring bankruptcy.  We all know of K-1 parent company FEG's recent financial travails, and namely their inability to pay their fighters on time; well, according to Rutz, this, as well as the  cancellation of the ArenA event are because of K-1's situation.

Full interview, via Google translate:

 Kick Boxing Promoter Simon Rutz made of It's Showtime at the Amsterdam Arena, the biggest martial arts event in the world. International stars who until the beginning of this century almost exclusively seen in Japan were brought to Amsterdam Rutz. Not to everyone's pleasure. According to Mayor Eberhard van der Laan serve as the kick boxing gala's network meetings of criminals and the eve plausible funded patients with dubious money. He wants to ban them from the city. Metro Rutz talked about the future of kickboxing in Amsterdam. 

The annual May event in the Arena has been eliminated. Why? 
That we would this year with the Japanese organization K-1 organization. That organization finds itself in trouble financially and therefore took on the matchmaking (schedule of matches and fighters, ed) on time for each other. They were so in need that they do not even dare to take the phone. Soon they ask for bankruptcy. It was also by all the negative statements of the municipality no longer feasible for me to organize, in terms of sponsorship and ticket sales. 

Was it successful if the K-1 had fulfilled? 
I'm beginning to wonder if increasing the municipality of Amsterdam is worth it that we organize It's Showtime. Everywhere we are welcomed with open arms by the world we organize eleven events. Here we should always fight against an image. I'm just too tired. 

Do you feel bullied in Amsterdam? 
Of course I teased out of town. While the community complains that too few sports 
events in the city. And what do they do? They hunt the organization of one of the biggest events the city. 

With a heavy heart? 
Absolutely, this is my home country, our base here. Obviously it hurt, but at some things you can not fight. Organizing fighting sport takes a lot of energy. We work hard with eleven men, sometimes we work sixteen hours on one day, if we also have to fight against it, well. Can we improve our energy elsewhere in the stabbing. 

What you think is the reason the kick boxing gala on the grain be taken? 
The police, that they literally said to me, that it annoyed some people in the audience, where they focus on this area. That's the bottom line. They have now found a mayor who is sensitive. 

Would you fight with the city of Amsterdam can handle? 
It's not a fair fight. If I have to prove Bibob because we are not a criminal organization - I do not even know what I was to defend! -, Then me attorneys' fees, time, sleepless nights. I am no Don Quixote. It cost me money from my company. A mayor or city council may by public money litigating. They have "unlimited funds". 

You see this very clearly come to Amsterdam? 
Mayors are passers. But I must sit and wait for the next mayor well disposed to us again? I always hope that I am welcome in Amsterdam?

EDIT From Matt Roth: What Simon Rutz says about FEG may be true but it may also be sour grapes due to not having all the information regarding their current financial situation. He says "K-1" as an all encompassing entity for all things FEG like people do with "Dana White" when talking about everything Zuffa. His complaints about Amsterdam are nothing new but it is very interesting he is still discussing it so openly.

Basically, take this interview with a grain of salt until there is more information regarding the FEG situation. At this point there isn't anything new to report besides that It's Showtime is annoyed that FEG put them in a bad situation with the Amsterdam Arena show. 

Dave Walsh at LiverKick has another take on this situation:

As for the K-1 declaring bankruptcy part, that should not be a shock to anyone. Zach Arnold touches upon it briefly, and I agree with him; bankruptcy isn't the end. In Japan this happens all the time, and this has been a prediction of mine for a while; FEG declares bankruptcy and then moves their assets over to a new shell company, things still march on.

So please don't freak out yet but know there are big changes going on in Japan.