After failing to complete an acquisition with the parent company of the UFC, Zuffa L.L.C., and the recent revelation that it had filed for Chapter 11 Bankruptcy protection, the International Fight League could be on the verge of selling its remaining assets to Mark Cuban’s HDNet for $650,000.
On Sept. 19, the IFL filed court documents formally requesting permission from its shareholders to sell assets to HDNet. With the IFL having filed for bankruptcy on Sept. 15, its assets are subject to a bidding process through Oct. 23. However, the Sept. 19 filing with the Securities and Exchange Commission requests that HDNet be given every consideration as a buyer if an entity does not exceed its current bid of $650,000.
With all of the promotion’s fighters having been released from their contracts, the only remaining assets of value that the company has is its vast library of fights, trademark likenesses, web domain, as well as existing broadcast contracts with Fox Sports Net as well as several International distributors.