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  - ED SOARES COMMENTS ON ELITEXC CONTRACTS
Friday, November 21, 2008 - by Damon Martin - MMAWeekly.com
The continuing fallout from the demise of EliteXC is still hitting fighters where it hurts the most – in the wallet – and Ed Soares, manager for Brazilian fighters Rafael Feijao and Fabricio Camoes, is hopeful a resolution can be reached soon.
"Basically we want to get out," Soares told MMAWeekly Radio recently. "We sent that 30-day notice that they breeched the contract and they're basically saying they didn't. They're still saying that they are putting on events, but it's hard to believe."
Soares mentioned the financial difficulty for fighters like Feijao, who was supposed to fight on the cancelled Nov. 8 show, and they all want closure to the situation so the fighters are able to move on.
"It's right before Christmas, it's right before the holidays, these guys cancelled the fights," Soares stated. "Rafael Feijao had a title fight on Nov. 8 and it's unfortunate, but on top of all that they're not even going to release them out of their contracts so they (can) sign another deal."
Both Feijao and Camoes were seen as extremely bright prospects for EliteXC, and their manager feels they are both destined to work with major promotions, but the current contract hold up is preventing them from landing that type of deal right now.
"Today, they mentioned that (Feijao) can go sign some new deals, but he wanted to get with an organization like the UFC. They're not going to want a one or two off deal. They're signing exclusive deals, so we're just going to have to wait it out and see where it takes us," Soares commented.
Another financial hardship the fighters must now undergo are the sponsors that pay the fighters a monthly stipend that at this time have no idea when they will get a return on their investment because the fighters have to stay shelved during this contract situation.
Ultimately, Soares wants what every manager in this unfortunate situation wants and that is freedom for his fighters to move on and sign new deals to get them fighting again.
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