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Bad Signs

from HeadKickLegend.com - by Dave Walsh (Nov. 30 - 2010)

Paradise Lost: FEG, DREAM, K-1 and Dynamite's Dying Love Story



To say that matters involving FEG have been touchy lately is an understatement and a half; there have been rumors throughout the year that FEG was having severe financial problems and that there might even be a point where FEG would cut DREAM from their umbrella and continue to promote K-1, their money-maker. Then this summer there seemed be a light at the end of the tunnel in regards to this whole mess when it was announced that FEG had found a financial partner in PUJI, a Chinese investment bank.

The money never came.

Then it was that PUJI was going to start trickling money into FEG in January of 2011 and that things for FEG might be a bit toned down for the remainder of 2010. There were problems with organizing DREAM shows and K-1 and K-1 MAX shows became last-minute affairs, with the K-1 World Grand Prix moving to a smaller arena and MAX running considerably less shows than any other year. Now all eyes are on Dynamite!! 2011, which is already facing a ton of problems. HDnet's Andrew Simon is confident in Dynamite!! 2011 happening and HDnet broadcasting the event, and I have to agree with him; FEG is going to put on Dynamite!! by hook or by crook. I do not share his optimism when it comes to the Japanese scene, though. His point has been that there has been doom spelled out for years now, and things keep chugging along. All good things, though, don't last forever. 

There has been doubt circulating the past few weeks to the legitimacy of PUJI and the deal itself, with many believing that the deal will not see the light of day and the whole thing being a PR stunt to distract everyone from the real problems. Most investment banks go through a certain level of due diligence on investments, and I'm just not sure if looking through FEG's books and seeing a company that puts on giant shows that draws fans, ratings and sponsors but somehow (...) is in the red is a sound investment. That is, if PUJI is on the up-and-up, as there have always been misgivings about Chinese investment banks over the past few years with a pretty negative stigma on doing business with them. 

To be honest, when investigating what is going on with FEG right now, it is clear that there is something very wrong. There are fighters and employees who are unsure of what is going on or are sure that the company is in dire straights, while others are confident that the company will be fine. Fans don't want to hear that there might not be a DREAM.17 or that this could be the last K-1 World Grand Prix. The past day there has been a lot more activity when it comes to doom and gloom talk, but until we hear anything concrete it isn't fair to post further rumors and kick sand in the face of the situation.

What we can hope for right now is that FEG takes control of the situation and releases some sort of statement, but knowing how Japanese business works, admitting failure isn't an option at times.


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Anca (114 posts)
Posted: 2010-12-02 at: 07:50
I really hope FEG solve their money issue! It would be so sad if this year would the last WGP! :(
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