ProElite's quarterly report was released today, and the outlook is not good. It was reported that the struggling umbrella to MMA promotions EliteXC, Cage Rage, Icon, and King of the Cage is claiming a loss of $5.6 million dollars in only the first quarter of 2008. While the actual promotion revenue was in the black at around $213k, the operating expenses added up to over $5.8 million dollars.
At this rate, ProElite could very well lose over $20 million dollars over the entire year unless the company ends up folding or is infused with some type of capital. It has become apparent that the CBS deal is the vital beating heart that the company needs in order to move into the black for the year.
If ProElite can manage to push a solid show on May 31st, they will at least has some chances at gaining some solid blue chip sponsors and likely provide their fighters with more sponsorship money from MMA-related sponsors. This, in turn, will lure some fighters toward the promotion and allow EliteXC to gain some bigger names for their events. Blue chip sponsors will obviously shell out some substantial dollars to have their name plastered all over your television, and if the event is wildly successful, advertising spots during the event should grab some nice revenue.
It'll be a tough proposition for ProElite to fulfill. The UFC will be running shows during the event's timeslot on SpikeTV to pull fans away from the CBS show, but EliteXC has a live event with some larger than life characters to draw fans. Kimbo Slice could very well be the answer, but EliteXC will also been using Gina Carano's new popularity with the male demographic to grab viewers as well. It's a great move from the promotion. Add in the potential for Lawler-Smith to be a slugfest of excitement, we could potentially see more stars surface to a new casual fanbase.
Waiting in the shadows will be the UFC. If ProElite doesn't grab the viewers it needs (reportedly around 3 million viewers), it's likely that CBS will cut the promotion's shows from the primetime lineup and from the network. All those Kimbo Slice rumors about the UFC potentially using him in their promotion could come true. As much as Dana White states the obvious that Kimbo doesn't have the experience, it's hard to doubt his pull with the casual fan and even the fan that rarely watches MMA at all.
The most interesting part about that proposition is what will happen to Gina Carano. Will she fade into Hollywood to pursue other interests that have come from her American Gladiators fame or will she seek out more MMA fights? Will the UFC try to build a women's division around her? Nobody knows, but for the sake of MMA fans everywhere, let's hope EliteXC can make a solid effort and hopefully become a hit. Sure, Kimbo Slice may not be the man you want headlining a card, but I believe he has legitimately made the effort to become a complete fighter. The exposure can only help our sport that we love so much.