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If Kimbo’s kid was upset his dad got phantom punched the hell out, he’ll probably blow a gasket when he finds out
his father’s bankroll is drying up. Because of a condition called “hemorrhaging money,” EliteXC is closing up shop and they have canceled all of their upcoming events.
More of EliteXC’s fall after the jump. Gina Carano too >>

After the failure of Kimbo Slice –
beaten by this guy — EliteXC is trying to spin their sport in a positive; but after putting so much stock in their backyard brawler, the MMA company is threatening to fold like a house of cards, or worse, like losing their relevancy.
When ringside announcers are asking the public to give EliteXC’s “headline talent” a mulligan for a pathetic-but-it’s-all-good performance, the emperor’s lack of clothing becomes more and more obvious.
More on Gina Carano, including video, after the jump >>