The U.S. Bankruptcy Court for the Southern District of New York authorized the the bankrupt IFL to sell the company’s remaining assets to Mark Cuban’s HDNet. The Dallas Maverick’s owner paid $650,000 in order to allow HDNet access to the IFL’s video and image library, IFL’s brand name and other property. HDNet made its bid for the assets in September, and the court ruling was merely a formality as no other bids were submitted.
The IFL emerged onto the MMA scene roughly two years ago, however faced major financial struggles from the jump. The organization took a unique approach to presenting MMA to fans, forcing a manufactured team concept upon them.
The organization made a strategic move in early 2008, making a slight change to that concept by having actual MMA camps compete against each other, most notably Miletich, Thompkins (Couture) and Quest.
Although the concept was unique, it was a tough sell considering MMA has been, and will always will be, considered an individual sport. The IFL officially closed its doors on July 31.