Another day another notch in the belt that is mudslinging between K-1 and Glory. Apparently a new player has entered into the game, and while It's Showtime has turned the tables on the Kickboxing world by siding with Glory over K-1, K-1 will possibly be teaming up with M-1 Global, to what ends, no one is truly sure. This all comes from sources who have been posting on message boards, and one that is believed to be Apy Echteld of M-1 fame. According to Apy, on Friday now, there will be a big press conference from K-1 about these two sides working together. This will do no favors for K-1 in the West, as both companies are essentially demonized for various misgivings in the past.
Consider this with a grain of salt until anything official comes out.
"This friday, there will be an official press conference - you could call this a temporary press release until then. A big announcement will be made concerning a new player that will cooperate with K-1 Global - rumors say this will be M-1 Global.
The story concerning K-1 Global and It's Showtime is as follows:
An agreement had been made between K-1 and IS is that the IS fighters would only receive 30% payout. K-1 would also cover the costs of organising the event, but not before 2013 and under the condition of certain profit/ratings etc. which the Madrid event didn't seem to be able to reach. IS would cover 50%. IS planned to contract big name fighters which Kim would cover for 30%. IS guaranteed fighters like Kraus, Le Banner, Bonjasky, Sato, Guidon and Askerov (among others) would be involved. Needless to say, it didn't happen. An especially large point of frustration was that they weren't able to get Sato and that Petrosyan left. Kim was promised a lot by IS, but in the end IS wasn't even able to keep their own fighters. Relations between Kim and IS deteriorated.
Following this, K-1 said not to want to hold any events in the US, because with the list of fighters they ended up with, they wouldn't get it off the ground there. Final16 was scrapped for a while and instead some other sort of qualification event was planned to be held in Japan/Korea with the winner(s) being added to the Final8 list. Simon (Rutz) didn't want this and threatened to back out, basically because a lot of his fighters wouldn't get a spot at Final8 which he wasn't happy about. Things didn't look good for a while. Simon then asked if Kim wanted to cover the full costs of organization and cover 50% of the fighters' payout rather then 30%. In the end the agreement was made that Kim would cover the full costs of organization. In return the US events had to be scrapped and this was agreed upon as well.
Behind the scenes though, it seemed that Glory made Simon an offer for his company and even that Simon already sold, but wanted to wait for Kim's payout before shutting the whole operation down.
Kim reacted by contracting IS fighters like Hari and Spong among others. All of this happened before the Madrid event and had nothing to do with Bank Guarantees etc. After all, al non-IS fighters have been paid. In addition, Kim did pay 50% of the costs for the Madrid event. This is basically it, but there are more details which will hopefully be addressed at the press conference."