It's Showtime Press Release Regarding K-1

[broncofan]

After years of being loyal to K-1 (FEG) regarding the late payment, or no payment at all, to our fighters, we would like to release the following statement.

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.

Also, fighters are even receiving phone calls from Mr. Tanikawa with a threat to not fight for IT’S SHOWTIME JAPAN. If fighters would fight for IT’S SHOWTIME JAPAN, they can wave their money goodbye. Mr. Tanikawa is not in the position to act this way, and subservience would fit him a lot better. Mr. Tanikawa doesn’t understand that K-1 has to pay their debts because the fighters have already delivered their service to K-1.

We can only describe the way K-1 has been managed the last years as amateurish and almost as deceit. If we hadn’t put a huge amount of pressure on K-1 just before the K-1 World Grand Prix Final of last year, some fighters would have been even more financially struck.

Even if an investor for K-1 will appear, we really hope that Mr. Tanikawa will take a management course first, otherwise the invested money will disappear like snow in the sun.

The next fighters still have to receive big amounts of money from K-1: Giorgio Petrosyan, Tyrone Spong, Hesdy Gerges, Daniel Ghita, Melvin Manhoef, Pajonsuk Superpro Samui, Chahid Oulad el Hadj, Gago Drago and Dzevad Poturak.

These are only the fighters which are represented by us. However, also a lot of fighters are still patiently waiting for their money. We would like to emphasize that it’s incorrect that K-1 even organizes events without paying their debts to these fighters.

Simon Rutz
IT’S SHOWTIME

[broncofan]

Press release regarding K-1 (Part 2)

May 30, 2011 -

PRESS RELEASE:

Following the press release from Mr. Tanikawa, I would like to make the following statement:

It is true that I had a telephone conversation with Mr. Tanikawa in which he has taken some of my worries away, by apologizing to me several times and saying that for him it’s no problem that IT’S SHOWTIME will organize events in Japan.

However, there’s still the fact that we have 400.000 US Dollars in direct demandable deposits at K-1 and we also have many contracts with a total value of millions of dollars which have not been fulfilled by K-1.

Mr. Tanikawa asked us if we want to delay our juridical actions with another week because he will make us some positive offers within a week. Given our long term relationship with K-1, we will not make a problem out of this week. If we haven’t heard anything positive after a week, we will continue our already embarked actions.

I would like to emphasize that I would sincerely regret it if Mr. Tanikawa can’t find a way to help K-1 to recover. K-1 has done a lot of good work for a lot of years for the fans, the fighters and the image of the sport.

Simon Rutz
IT’S SHOWTIME

[NWOWolfpack]

Can't really blame It's Showtime...........they want their money but how is K-1 supposed to make $$$ if they can't hold events?

[ArmyofDarkness]

I agree, how is K-1 supposed to make the money to pay them back.