Not a good start to 2012 for It's Showtime. Giorgio Petrosyan has terminated his contract with It's Showtime after he still has not been paid for winning the 2010 K-1 MAX World Grand Prix. Kickradio.it, who are very close to Petrosyan reported the story here. Giorgio gave this quote (translated) about the situation:
"I think I have shown enough patience - declared Giorgio Petrosyan - I have been repeatedly guaranteed the compensation due. 12 months have passed without anything following a number of promises to pay. I remain willing to fight for anyone interested in giving me his gala tournaments, with no limits or proprietary."
There was speculation throughout 2011 about a bit of tension between Petrosyan and It's Showtime, whose management he was under for his international career. Carlo di Blasi, the promoter of Oktagon and Fight Code, is his true manager and as of right now it looks like he'll just be under him. According to Kickradio.it, di Blasi is now the one who will be responsible for getting Giorgio the money he is owed. Interestingly enough, Giorgio has already gotten two fights this year without It's Showtime, at Yokkao Extreme on January 21 and at an Oktagon event on March 24.
I think that Giorgio is just fine without It's Showtime. He can still continue getting high profile fights, as evidenced by the two he already has scheduled.