Gary Shaw in trouble

Gary Shaw may be going back to promoting boxing events. ProElite, the parent company of EliteXC, seems poised to phase out Gary Shaw post CBS event on July 26th. According MMAPayout.com CBS has the option to buy 500,000 shares after each EliteXC/CBS show. It appears that CBS wants to exert more control over ProElite and EliteXC.

I kind of feel sorry for Shaw, he made some mistakes like putting all his eggs in the Kimbo basket. But he did bring MMA to prime time network television. Not to mention his organization was the first to truly rival the UFC through that television deal.