UFC Files Lawsuit Against Former PRIDE Owners

[scurlaruntings]

Pride FC Worldwide Holdings (the shell company set up by UFC after the Pride purchase) have filed a lawsuit against Dream Stage Entertainment, Dream Stage Holdings and Nobuyuki Sakakibara claiming they were defrauded millions of dollars in the purchase of the Pride and Pride Bushido brands.

It is said to claim over $50 million in damages.

There are more details leaking out in regard to Pride FC Worldwide Holdings (a.k.a. Lorenzo and Frank Fertitta, the majority owners of the UFC) filing a lawsuit in Clark County (Nevada) court last Friday against Dream Stage Entertainment, Dream Stage Holdings and DSE president Nobuyuki Sakakibara.

The Fertittas’ suit makes claims of being defrauded millions of dollars from the sale of Pride FC and Pride Bushido. So, what does that mean, you ask? Well, MMAWeekly.com is one site that has delved into some specifics:

Dream Stage was supposed to go through a background check and drug testing to ensure compliance with the regulatory requirements of the Fertittas’ gaming license in Nevada.

Operate words: GAMING LICENSE. I really don’t know how I can stress that enough. GAMING LICENSE.

It also looks like the situation could escalate further in short order, according to Sherdog.com:

A source close to DSE told Sherdog.com on Tuesday that Sakakibara was preparing his own suit against the Fertittas for breach of contract stemming from the decision to shut Pride down last October.

Perhaps the UFC vs. PRIDE feud isn’t over after all?

You know, it seems like both sides in the deal are unhappy. Why not an even exchange? Zuffa gets their money back and DSE gets PRIDE back?

Or maybe they could do the whole bizzarro dream concept on bad TV shows where someone is shown waking up and everything that took place in the past three episodes suddenly never really happened?

This could get ugly!!!:roll:

[Dostoevsky]

Seems like those damn crooks Dream Stage Entertainment screwed the UFC.

[Donut62]

That's what you get for buying an organization that had failed and bankrupted itself because it's leaders were connected to organized crime. DSE was fucked up beyond belief, and Zuffa got what they deserved for not ensuring due diligence in the purchase. It's like buying a car that you saw driving up the street with fire coming out from under the hood and anti freeze running out the exhaust.

[Dostoevsky]

That is true, none of the Japanese companies would touch Pride and no other MMA orgs could really afford to buy it. UFC should have just waited in the wings, waited for Pride to blow up on its own and waited for the Pride fighters to come to it naturally.

[Donut62]

That is true, none of the Japanese companies would touch Pride and no other MMA orgs could really afford to buy it. UFC should have just waited in the wings, waited for Pride to blow up on its own and waited for the Pride fighters to come to it naturally.

Really that would have been the best option. All they got was a video library. Rampage was already there from the WFA, Anderson Silva and Mirko has jumped ship months before the buyout, and Nog already said he was dealing with Zuffa before word of the buyout started leaking out. They didn't get Barnett, Fedor, Gomi, Mach, etc. I guess Hendo was a good acquisition.