FEG is dead, long live K-1

by Fraser Coffeen | source: bloodyelbow.com
 

Last week, the Tokyo DIstrict Court declared the FEG, the former parent company to K-1, bankrupt and insolvent.

Golden Glory head Bas Boon, claims he is owed $2 million by FEG to pay fighters and trainers. It was Boon who pushed FEG into bankruptcy court in an attempt to force the company to pay off their creditors.

Sherdog ran an article titled "K-1 Parent Company FEG Declares Bankruptcy in Tokyo Court" and speculated that this may cause the May 27 event to be cancelled. Dave Meltzer also reported on it and described FEG as the parent company to K-1, going on to say "K-1... is virtually dead."

Articles are reporting that "K-1" is bankrupt, which is simply not true. The K-1 brand was sold last year to a company called EMCOM which has since branded itself K-1 Global.

FEG is not the parent company to K-1. They are the former parent company to K-1, which is a major distinction. There are no longer any ties between K-1 and FEG, and this bankruptcy should have no impact on the upcoming K-1 show or the company's future.

It's Showtime head Simon Rutz has very publicly stated that former FEG executives, including former K-1 head Sadaharu Tanikawa, are no longer involved. Once the sale was made, FEG was essentially dead - this ruling simply makes it official.

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tags: K-1   video   



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Recent Comments »

stonepony site profile image  

5/18/12 7:25 PM by stonepony

IMO kick-boxing is going to see the same natural decline that other combat sports are seeing. With the major spotlight being on MMA, and the fact MMA encompasses all of these other sports, it makes sense that they would be slowly absorbed.How many kids learning to box today, are not also learning to wrestle/grapple? Same goes for kick-boxing, kids are learning it like they always have, but they're also learning to wrestle/grapple. Gi-JJ is on it's way out too.

Haulport site profile image  

5/18/12 2:06 PM by Haulport

Just shit PR by the Japanese imo. They should have gotten Van Damm and Chuck Norris to promote for them in the US back in the 90's and it would have been HUGE.......

Wasa-B site profile image  

5/18/12 1:49 PM by Wasa-B

Btw what is Masato up to now? And what is going on with Buakaw's situation?

Wasa-B site profile image  

5/18/12 1:48 PM by Wasa-B

Good points on K1 did by Per and WB. The UFC could also end up in trouble one day but that doesnt mean they havent taken MMA to new heights but K1 did it first in combat sport aside from the traditional champ in boxing. Isnt it still ironic that with all the wang-hards tht are into UFC, that K1 never made it over here? I guess its the lack of top level American kickboxers?

Haulport site profile image  

5/18/12 1:43 PM by Haulport

So then DREAM is officially dead along with FEG?

PrestigeWorldwide site profile image  

5/18/12 10:57 AM by PrestigeWorldwide

sloppy, sloppy, sloppy

YVES JOCKSTRAP site profile image  

5/18/12 10:53 AM by YVES JOCKSTRAP

Whistleblower-As a member for over 10 years you are my current favorite poster, awesome!

newjack900 site profile image  

5/18/12 10:34 AM by newjack900

Damn I love K-1.. The Japanese could put on a show like no other.. I remember staying up watching their 5-6 hour broacasts & not being bored with it once. That being said, those are some of the worst lyrics over Raekwon's 'Guillotine [Swordz]' of all time.

thehenriques site profile image  

5/18/12 10:34 AM by thehenriques

Yes

UGCTT_Fraser_Finlay site profile image  

5/18/12 8:55 AM by UGCTT_Fraser_Finlay

For double the price...