DREAM Rep On FEG Future: We Need Investment Money, That's The Bottom Line

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DCRage
8/31/10 4:43:08PM
PUJI Capitol is conducting an internal review of Fighting and Entertainment Group's (FEG) assets and liabilities in advance of a push to attract investors to the struggling fight promotion. "The actions they're taking are similar to an audit," FEG's U.S. representative, Mike Kogan, said on Monday. Kogan said the Japanese investment bank hopes to raise $230 million for FEG, which operates MMA's DREAM promotion and the K-1 kickboxing organization, over the next five years. But with the company's current financial condition, that timeline may need to be shortened. More uncertainty arose this past week with reports that FEG had canceled DREAM.17, an event planned for Oct. 25 in South Korea. Kogan, though, said that the event was taken off the table earlier this year when DREAM.14, originally scheduled for April 24 in Seoul, was scratched due to the absence of a television broadcast deal in the country. Only 2 DREAM events are scheduled the rest of the year. But Kogan admitted FEG's future is grim if the Japanese investment bank does not make headway by the beginning of next year.

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meier
8/31/10 8:54:35PM
sponsors,sponsors,sponsors
matt_black
9/1/10 12:31:30AM
Cause Stone Cold said so?
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