I have learned earlier that Pro Elite,the company that is over Elite XC, will close down on Friday and will file for bankruptcy. So the fight against Nick Diaz vs. Eddie Alvarez fight on November 8th will not be happening. People close to the company says that they lost up to 60 milllian dollars.Elite XC just held their third CBS show called Heat last month.The company’s golden boy and former street fighter, Kevin “Kimbo Slice” Ferguson, was knocked out by MMA journeyman Seth Petruzelli,a replacement for Ken Shamrock, in 14 seconds on the show. As he fell to the mat, it seems as though he took EliteXC’s hopes for a future with him as well. Two days after the fight Petruzelli went onto a Florida radio show that Elite XC tried to offer him money to make his fight with Kimbo Slice a standup fight.The Florida Department of Business and Professional Regulation, which oversees the Florida State Boxing Commission, is currently investigating EliteXC regarding Petruzelli’s claims.Aso a breakdown in the negotiations with Showtime Networks to purchase ProElite resulted in the company's funding to disappear, forcing them out of business.