The news was originally broken by The Fight Network’s Mauro Ranallo and John Pollock. When inquiring about the reason for canceling the event, a spokesperson for the MMA promotion would only comment that ProElite is concentrating their efforts toward the third network broadcast of EliteXC on October 4th in Fort Lauderdale, Florida.

The card was originally going to feature a welterweight title bout between champion Jake Shields and John Alessio, yet the challenger stated he would not be ready in time.

Other fighters scheduled and rumored for that evening included Joey Villaseñor, Murilo “Ninja” Rua, a 140-pound title bout between Bao Quach and Wilson Reis, and Cristiane “Cyborg” Santos taking on Yoko Takahashi.

Making matters even more inexplicable is the sudden cancellation of ProElite’s Cage Rage 11 fight card in England. Moreover, the total staff running the British promotion has been cut down from eleven to just three.

ProElite Finances Become Questioned…

Sherlock Holmes could not have written a better mystery than what’s happening with ProElite’s finances.

Aside from advising the SEC that they will be late in filing their 10-Q quarterly report for the second quarter which was due on June 30th, the promotion’s stock skyrocketed from a previous high of $2.50/share to $8.00/share. That’s a total increase of 220% in only one day of trading on Friday, August 15th.

No further news regarding the financial status of ProElite has been announced, but rest assured that the recent developments will have fans questioning whether they are up for sale or whether an updated change in management is scheduled.