Gary Shaw done at Elite-XC?

[NWOWolfpack]

Adam Swift of http://www.MMAPayout.com has the scoop...


Speculation within the MMA industry suggests that Gary Shaw's days at ProElite may be numbered. Rumors suggest that Shaw may be out by the end of the summer, possibly soon after the July 26 CBS event. Multiple sources have told MMAPayout.com that the expected move is another example of CBS's growing influence on the company. Santa Monica Capital Partners, the largest shareholder in the company, is also believed to have taken a more active role in the company of late.

Under terms of its deal with ProElite, CBS is entitled to purchase 500,000 shares of stock in the company each time it broadcasts a show on CBS. Based on those options and warrrants already exercised in conjunction with the CBS and Showtime deals, CBS Corporation is believed to be the second largest shareholder in the company.

Earlier this year, Doug DeLuca was "promoted" from CEO to Chairman of the Board in favor of Charles Champion. That move was reportedly also at the behest of CBS and Santa Monica Partners. CBS also fast tracked EliteXC's return to network television to July (as opposed to the October date preferred by ProElite) after reportedly selling out its commercial inventory for the 5/31 show.

[broncofan]

Following up on a report, posted by the good folks over at MMAPayout, Fightline.com sought to clarify the role of Gary Shaw within the EliteXC organization with EliteXC VP Jared Shaw. Jared Shaw denied reports that his father Gary Shaw was being pushed out of EliteXC, as had been reported.

"Gary is still completely part of this company," said Jared Shaw. "He's gonna be taking a step back from the public eye and it has nothing to do with the erroneous reports out there that it has to do with the CBS people or the Santa Mona Capital people. The CBS officials are great people. They're excellent at their jobs and even better when it comes to letting us be great at our jobs. With Gary, this has everything to do with a blossoming boxing company and just spending more time with his wife and his grandchildren as they get older."

Jared Shaw points to erroneous reports and unnamed sources as being part of the problem.

"People, if they just read the internet and other reporters who branch off of sources that don't have a named quote, then they're just rumors and have nothing to do with the reality of the situation. Unless you hear it from the horses mouth it doesn't come from the horse."