If you remember back to our interview with It's Showtime head Simon Rutz, you'll remember that he said a lot of things about why the Amsterdam ArenA show was canceled, and had pointed a critical finger at K-1 for pulling their support as well as their financial woes. Rutz went on to list fighters under his management that have yet to be paid by K-1 and that they should come to him for financial advice. Well, this interview made headlines in Japan, and became big enough to where FEG's Tanikawa felt the need to respond to it on Twitter, where he declared that Simon Rutz helped to "kill" K-1.
So needless to say, there is some tension between the parties at this point.
In a recent interview with Dutch Metro News, they asked Simon Rutz about the cancellation of the ArenA show and what led to it. Rutz explained the issues with K-1, who were supposed to be handling the matchmaking and instead stopped returning his phone calls. Rutz also discussed the political atmosphere in Amsterdam and how disappointing it is that Amsterdam is It's Showtime's home and he isn't certain he can promote shows there anymore. The rest of the world welcomes him with open arms, but his home town is not.
The interview discusses that under current leadership, he isn't even sure if the ArenA show could happen if K-1 came through. All of the legal fees and hurdles Rutz would have to go through to prove to city officials that It's Showtime is "clean" and unaffiliated with organized crime would cost him and the promotion too much money at this point. He of course wants to promote in Amsterdam again, eying a possible October return, but until city officials are more willing to work with It's Showtime it might not be a reality. [source]
As for the K-1 declaring bankruptcy part, that should not be a shock to anyone. Zach Arnold touches upon it briefly, and I agree with him; bankruptcy isn't the end. In Japan this happens all the time, and this has been a prediction of mine for a while; FEG declares bankruptcy and then moves their assets over to a new shell company, things still march on.