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10/18/13 7:16 PM
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Underground Blog
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MixedMartialArts.com
 

According to Forbes.com major MMA sponsor Muscle Pharm is being investigated by the Securities and Exchange Comission.  According to the report, investigation is centered around executive compensation, related party transactions, and lack of disclosures.  At one point Muscle Pharm top executive Brad Pyatt was making more than the CEOs of some corporations with billion dollar valuations. 

Muscle Pharm is a major sponsor to many athletes, trainers, and major sports organizations.  

MusclePharm — which makes an array of fitness supplements and sponsors the Ultimate Fighting Championship — was issued a formal order of investigation by the SEC looking into “internal controls, disclosures of related party transactions, settlements of claims including share issuances, executive compensation, and disclosure of perquisites,” according to a Sept. 30th filing.

A company spokesman said MusclePharm was unable to comment on the SEC inquiry, but later provided the following statement, “This investigation has absolutely nothing to do with Arnold Schwarzenegger and is totally unrelated to Mr. Schwarzenegger.”

Although Schwarzenegger is the largest common shareholder of the Denver, Colo.-based company with an 8.8% stake worth about $7.2 million, he only acquired the shares in July after forming a partnership with MusclePharm. Public filings show that Schwarzenegger reached an agreement with the company to endorse MusclePharm products, including a “special Arnold Schwarzenegger product line of between 4 and 8 products,” in exchange for royalties off the products and 780,000 common shares. There’s no indication that the investigation relates to Schwarzenegger, as MusclePharm suggests, especially given how recent the relationship is.

The company, founded in 2008, is run by founder and CEO Brad Pyatt, who owns 5.8% of the common shares, worth $4.8 million), but controls 31% of all voting shares. Pyatt did a short stint with the Indianapolis Colts in the early 2000s, and unfortunately hasn’t had much personal or business success financially since then. The company states in its annual report that Pyatt has suffered a personal bankruptcy and other failed business ventures, acknowledging that this could “expose us to assertions by others that our management team may not know how to effectively run a business.” Court records show Pyatt completed Chapter 7 bankruptcy proceedings in March 2010.

Stay tuned to MixedMartialArts.com as we cover the investigation and its affects on the sport of MMA. 


10/18/13 7:18 PM
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IAmNotImpressedbyYourStocktonSlap
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In, damn. Phone Post
10/18/13 7:19 PM
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HITMAN DAN DIAZ
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shocker lol

10/18/13 7:24 PM
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WeidmansPHD_in_G0atslaying_fr0m_h0fstra_U
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Shady products sold by shady people. Cough, Xyience and anything else that "Zuffa" are involved in.

 

10/18/13 7:26 PM
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Tiresias
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Bring the recency.

10/18/13 7:30 PM
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HandyDarsh
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What does this mean? Someone's stealing money? Phone Post 3.0
10/18/13 7:31 PM
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justin@gosscpa.com
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interesting
10/18/13 7:31 PM
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Mark Hunts Pet Monkey
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WeidmansPHD_in_G0atslaying_fr0m_h0fstra_U -

Shady products sold by shady people. Cough, Xyience and anything else that "Zuffa" are involved in.

 

Is Zuffa one of the shareholders in MP? Phone Post 3.0
10/18/13 7:47 PM
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let me shill bro
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The SEC is a joke. Madoff was running a massive Ponzi scheme right under their nose so im sure Mr Pyatt will be fine for atleast another 5-10yrs, long enough to hide and/or spend all the money.
10/18/13 7:48 PM
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OnlyTheStrongSurvive
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WeidmansPHD_in_G0atslaying_fr0m_h0fstra_U -

Shady products sold by shady people. Cough, Xyience and anything else that "Zuffa" are involved in.

 

I think MusclePharm is pretty big outside of MMA lol Phone Post
10/18/13 9:01 PM
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KOphil25
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Optimum Nutrition would be a better option. Muscle Pharm products are way overpriced and shitty Phone Post 3.0
10/18/13 9:13 PM
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TwoCanVanneDamne
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Nucky -

Most if not all those supplements are bad for your health anyways its not like the shit is purely organic / natural and most of the shit hasn't even been tested on humans for longer than 3 months.

As long as it gets me jacked I don't give a fuck Phone Post 3.0
10/19/13 12:56 AM
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TheTruthIsImaVERAfiedBitch
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KOphil25 - Optimum Nutrition would be a better option. Muscle Pharm products are way overpriced and shitty Phone Post 3.0
Incorrect.

ON is more expensive. Not knocking them, ON makes great products, but MP also makes quality supps. Phone Post 3.0
10/19/13 1:02 AM
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Rudi
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KOphil25 - Optimum Nutrition would be a better option. Muscle Pharm products are way overpriced and shitty Phone Post 3.0
You clearly are just talking out your ass. Phone Post
10/19/13 1:11 AM
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GnP Sonnen
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Sub Phone Post
10/19/13 2:09 AM
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Sergio88
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10/19/13 2:12 AM
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WuDaddy
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I just bought the Arnold iron pump pwo, hopefully it's better than assault. Phone Post 3.0
10/19/13 2:24 AM
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teamquestnorth
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WuDaddy - I just bought the Arnold iron pump pwo, hopefully it's better than assault. Phone Post 3.0
Assault sucks ass. As soon as the old formula of jack 3d sold out the first thing i bought was assault. It just gave me a headache. Waste of money Phone Post

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