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IFL Cancels Event, Could Declare Bankruptcy

The International Fight League announced today that it has canceled its next scheduled event, and there are ominous signs that the organization could go bankrupt.

In its announcement, IFL said it has canceled its August 15 event at the Izod Center in New Jersey, "in light of the company's current financial condition." It then adds, "the company may seek protection from its creditors through a court proceeding."

IFL tried to do some interesting things, like organize fighters into teams and brand itself as the rare American promotion that uses a ring, not a cage. But it was hemorrhaging money, and it's probably about to go belly-up.

IFL says it is working with other organizations to help find places for its fighters to stay active. IFL's biggest name, heavyweight champion Roy Nelson, is a talented but overweight fighter who has been mentioned as a possible opponent for Kimbo Slice. This makes that fight more likely.

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