Ray Sefo says FEG owes he and Golden Glory $1,500,000

source: middleeasy.com
 

Ray Sefo appeared on TapouT live radio last night and revealed that the Japanese Fighting and Entertainment Group (FEG), parent company to K-1 and DREAM, owes Sefo and Golden Glory a combined $1,500,000.

"At this point they still owe me $700,000. From what I heard they're having some major problems. Their situation still hasn't changed. So it's still a waiting game, whether we're going to get paid or not. Like I've said to them after the last fight, I said 'Listen man, I am not fighting for K-1 ever again until this money is paid' -- I hear a lot of staff members, someone that worked for them for the last fifteen years just resigned. Right now, the email I got was that all further communications will go through Tanigawa, well the guy doesn't speak English so how are you going to be able to communicate with us?"

"The biggest problem is we go after them legally and they go bankrupt, then I'm stuck with attorneys' fees. Then it's a lose/lose situation."

"From what I hear from an inside source is that they actually owe Golden Glory $800,000. They're in such huge debt that I feel mad, angry and sad at the same time."

Read entire article...
Listen to entire interview...

MMA gear now available at the UG Store

 

MMAWarehouse.com 13 inch Vinyl Transfer

MMAWarehouse.com 13 inch Vinyl Transfer

$12.49 $7.99

Jaco Sugafly HT Shirt

Jaco Sugafly HT Shirt

Only $19.99

 

tags: Ray Sefo   K-1   DREAM   Golden Glory   



Get the MMA Underground app. for iPhone and Andriod devices.
iPhone Application Andriod MMA Underground Application

Recent Comments »

Soup Nazi site profile image  

4/21/11 11:02 AM by Soup Nazi

 :(

sureshock site profile image  

4/20/11 2:10 AM by sureshock

This needs a TTT!Ray is a living legend in contact sports. The guy always came through for K-1 as far as showing up and putting on a great show. Really sad to hear K-1 treating him like this.

Tenor still 10ing site profile image  

4/19/11 9:59 PM by Tenor still 10ing

Over the last few years, the TV ratings for FEG and Dream have plummeted. This has dried up their main source of revenue, and their Yakuza links are preventing banks (in Japan and elsewhere) from lending FEG any money.At this point FEG is only postponing bankruptcy, which is all but guaranteed at some point.Which means probably no one is getting paid what FEG owes them.

RedVexx site profile image  

4/19/11 9:08 PM by RedVexx

Guess the Dynamite USA card did not help either. They spent way more than they brought in on that event.

KevinMcAllister site profile image  

4/19/11 8:37 PM by KevinMcAllister

http://www.youtube.com/watch?v=1jUBbCgMWmE

Gnarls Gnarlington site profile image  

4/19/11 6:21 PM by Gnarls Gnarlington

that's messed up. hope ray gets his money.

Crooklyn site profile image  

4/19/11 3:04 PM by Crooklyn

It was an accumultaion over a 2 year period.  FEG would give out a small token amount here and there as good faith money to keep the guys fighting, if I understood correctly, the last time I spoke with him.  

DaTazzManianDevil site profile image  

4/19/11 2:56 PM by DaTazzManianDevil

DAMN!

greenseed site profile image  

4/19/11 1:40 PM by greenseed

 prolly just 2 or 3 fights

rosario02 site profile image  

4/19/11 1:30 PM by rosario02

What could he possibly have done for that debt? Or let it accumulate to that level?