IFL Still Looking For A Buyer

The International Fight League, cash-poor for quite some time, is looking to liquidate its main assets, namely its video library of video footage, to the highest bidder or buyer, according to Sherdog; the now-dormant IFL filed for bankruptcy on Tuesday.  According to IFL President/CEO Jay Larkin, the company is looking for buyers, but no deal has been finalized as of yet, but Larkin added that an announcement should be coming within “the next couple days” regarding the sale of its video library and possibly its remaining international television rights deals.

The beginning of the end for the IFL came in two happenings: After the IFL went public in November 2006, their stock rose to $17/share in January 2007; however, from that point, the value of IFL stock dropped to the current price of .01/share – a true “penny-stock”.  The second occurrence happened this summer, specifically in June, when the IFL cancelled its card that was tentatively scheduled for August 15.

Since that announcement, a former higher-up with the IFL has said that Larkin has had conversations with UFC co-owner Lorenzo Fertitta; Pro Elite and Strikeforce had been considered prospective buyers, but it appears that they’re a little late for any prospect of purchasing the IFL – which seems to indicate that the UFC appears to have the lead in the acquisition of the promotion.

Related Posts Plugin for WordPress, Blogger...
Enjoyed this post?
Subscribe to Octagon Buzz via RSS Feed or E-mail and receive daily updates from us!

Submit to Digg  Stumble This Story  Share on Twitter  Post on Facebook  Post on MySpace  Add to del.icio.us  Bark It Up  Submit to Reddit  Fave on Technorati

Leave a Reply

Write For Us