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K-1 Heavily in Debt to Fighters; It's Showtime Planning to Take Legal Action

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FastKnockout

THE RUTHLESS ONE

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K-1 made news last week with the announcement that they would finally be returning to action on June 25. It was great news for kickboxing fans, and seemed to momentarily erase the past 6 months of frustration and questions of mismanagement.

Enter It's Showtime.

The Dutch kickboxing organization had a very important question in the wake of this announcement - how can K-1 announce a new show when they haven't paid everyone from last year's shows? It's Showtime, who also has a talent management division, pointed out that their fighters are owed over $400,000 in back pay for previous K-1 events. After six months, It's Showtime has had enough, and have announced their plan to take legal action against K-1 and parent company FEG:

For more than half a year K-1 owes us more than 400.000 US dollars in total because several fighters which we represent have not been paid. Every time we were asked to have more patience because a potential investor would be interested to take over K-1.

Until now, we have never contacted a lawyer to claim our credits because we granted K-1 the time they need to financially recover. However, we were very surprised to hear that DREAM and K-1 want to organize a number of smaller events. In our opinion that isn't possible before K-1 first pays its debts to fighters which already have fought. Therefore, now is the time for us to hire a lawyer.

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Post #1   6/1/11 1:44:48PM   

Budgellism

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Damn. I hope they don't die out. K-1 puts on incredible events.

In the words of Michael Schiavello, "This is AWESOME!"

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Post #2   6/1/11 3:01:47PM