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Friday, March 27, 2009
Is Ecko In Serious Financial Trouble?
 Mark Ecko, founder and famed designed of Ecko clothing, could be in a serious financial squeeze according to report in the New York Post. Ecko has also recently stepped up and started sponsoring several prominent MMA fighters including UFC heavyweight champion, Frank Mir, TUF 9 coach Michael Bisping, and "Ultimate Fighter" winner, Nate Diaz.
The story says sources have indicated that Ecko has hired investment bank, Peter J. Solomon, to help refinance at least $170 million in debt that are owed to 2 key business partners.
Because of this debt, Ecko may be forced to sell off pieces of his businesses to help financial woes and pay off creditors.
According to the report, Ecko owed over $100 million to Li & Fung, a global trading company that helps manufacture his products, and that the rough holiday season played a major part in the recent struggle.
Ecko has also now apparently defaulted on a $70 million loan from commercial lender, CIT, and as quoted in the story from the NY Post, Ecko is "scrambling to avoid bankruptcy so he doesn't lose every stitch of equity he's got."
Sources told the Post that Ecko's executives and business partners are in a scramble to sell off pieces of the business to rivals in exchange for immediate cash. Apparently, Ecko is also trying to lease out space in his huge 280,000-square-foot headquarters on West 23rd Street, in New York City.
How this could affect the MMA fighters that Ecko currently sponsors is not known. Independent sources indicated to MMA Insider on Friday that the financial struggles felt by Ecko could partially be a reason why the clothing giant fell out of the running for their bid for the Elite XC assets, of which they were rumored to be in contention for.
The NY Post contacted Ecko chief marketing officer, Michael Golden, who stated, "we're pretty confident that this isn't an issue that's life-threatening at all, in our case, we have more than enough assets to pay off that term loan, and we have more than enough time."
Stay tuned to MMA Insider for more information on this story as it becomes available.Labels: EliteXC, Frank Mir, Marc Ecko, Michael Bisping, Nate Diaz
posted by MMAInsiderBLOG @ 6:51 PM
Wednesday, October 29, 2008
Nate Diaz Sidelined for 2008
 Initially hoping to have a fight against Clay Guida in December, Gracie Fighter Nate Diaz looks to be sitting out the rest of this year.
According to GracieFighter.com, his manager's website, the planned showdown with Guida was never completed due to a foot injury that Guida sustained in his fight with Mac Danzing at UFC Fight Night 15 in Omaha, Neb.
With most of the other contending lightweights in the UFC already scheduled out for the remainder of the year, it's likely that Diaz won't have his next bout until Super Bowl weekend in Las Vegas, where Georges St. Pierre and B.J. Penn headline UFC 94.
Diaz most recently competed on the same card as Guida. He defeated Midwest fighter Josh Neer in the main event, scoring a tough split decision victory.Labels: B.J. Penn, Clay Guida, Georges St. Pierre, Nate Diaz, UFC 94, UFC Fight Night 15
posted by MMAInsiderBLOG @ 1:57 PM
Monday, October 13, 2008
Nick Diaz FINALLY Gets Paid
 In a brief news update on Caesar Gracie's website, he posted an update on the status of some of his fighters and what they have going on.
As we posted here in the MMAInsiderBLOG, Jake Shields opened up his new academy over the weekend. It is a new GracieFighter Academy located in Berkley, Calif.
Nick Diaz has been confirmed to fight Eddie Alvarez on the Nov. 8 EliteXC fight card in Reno, Nev., and now he's also been paid for his fight for Dream… which took place FIVE MONTHS ago! According to Gracie, Diaz has agreed to return to Japan, but leaves the door for speculation wide open as he says, "At this point it is unclear for which organization" that Diaz will fight for in Japan.
It has been oft rumored that Nick's brother, Nate Diaz, will be fighting on the Dec. 13 Ultimate Fighter Finale on Spike TV. The update indicates that Nate is still waiting to hear if he will actually be added to the card or not.
Another GracieFighter team member, Damien Douglas, is expecting to return to ShoXC on the November card. Douglas is 3-1 in MMA thus far, winning his most recent ShoXC outing, defeating Joe Schilling in September.Labels: Caesar Gracie, Damien Douglas, Dream, EliteXC, GracieFighter, Jake Shields, Nate Diaz, Nick Diaz, ShoXC
posted by MMAInsiderBLOG @ 7:02 PM
Wednesday, October 8, 2008
Jake Shields says, "I had my own Nate Diaz moment" with Paul Daley
 Before Jake Shields and Paul Daley went to battle last Saturday night, the two welterweights almost came to blows after they weighed in according the EliteXC champion during a recent appearance on MMAWeekly Radio.
Shields said the two fighters were squaring off following the weigh-ins and Daley kept saying "I'm going to knock you out" and eventually the two ended up with a pushing and shoving match in front of the media and crowd in attendance.
Shortly after the ruckus on stage, members of the media noted that the curtains behind the main staging area were flying and noise could be heard from the back.
Sure enough, Shields and Daley were going after each other, trying to get their fight going a day early.
According to Shields the fighters were never able to actually get at one another, but the California native says that a few water bottles were thrown between the two and although his teammate, Nate Diaz (who has water bottle chucking experience) wasn't there, he held his own and now has his "water bottle" story.
Another interesting note from the actual fight is that Shields says Daley was attempting to eye gouge him during takedown attempts.
Shields explained that Daley put his finger in his eye when he was shooting in for a takedown and that the referee issued a warning for the initial offense, but Daley committed the foul a second time during the bout.
In the end the champ suffered only a severe case of red-eye, but a dangerous foul nonetheless.Labels: EliteXC, Jake Shields, Nate Diaz, Nick Diaz, Paul Daley
posted by MMAInsiderBLOG @ 1:29 PM
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