10/20 UPDATE: SI.com has confirmed an earlier report that Elite XC is done after CBS chose to pull out of negotiations to buy the company in light of the Florida Boxing Commission’s decision to investigate the promotion following Petruzelli’s claims that he was paid to stand in his main event win over Kimbo Slice. So, yes, Ken Shamrock getting hurt in training just hours before his headline fight set off an amazing chain reaction that would ultimately kill the company he was supposed to fight for. That is one hell of a cut.
Word of a cancellation of their November 8 show and any future events is expected shortly.
Earlier updates on this debacle, as well as a series of YouTube links that chronicle the questionable MMA exploits of Kimbo Slice, can be found after the jump.
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