Shaw On His Way Out at ProElite?

June 24, 2008

Speculation within the MMA industry suggests that Gary Shaw’s days at ProElite may be numbered. Rumors suggest that Shaw may be out by the end of the summer, possibly soon after the July 26 CBS event. Multiple sources have told that the expected move is another example of CBS’s growing influence on the company. Santa Monica Capital Partners, the largest shareholder in the company, is also believed to have taken a more active role in the company of late.

Under terms of its deal with ProElite, CBS is entitled to purchase 500,000 shares of stock in the company each time it broadcasts a show on CBS. Based on those options and warrrants already exercised in conjunction with the CBS and Showtime deals, CBS Corporation is believed to be the second largest shareholder in the company.

Earlier this year, Doug DeLuca was “promoted” from CEO to Chairman of the Board in favor of Charles Champion. That move was reportedly also at the behest of CBS and Santa Monica Partners. CBS also fast tracked EliteXC’s return to network television to July (as opposed to the October date preferred by ProElite) after reportedly selling out its commercial inventory for the 5/31 show.

SEE ALSO: Jared Shaw Responds to Reports

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