Stratus Media Group completes its resurrection of the ProElite brand for second foray into MMA

After shutting its doors in October of 2008 following its inability to secure additional funding to keep the promotion afloat, select assets of ProElite -- the parent company of EliteXC -- were auctioned off to the California-based Strikeforce promotion, leaving nothing left but the bare bones.

Now those bones have apparently reanimated and come back to life like one of the skeletons from Jason and the Argonauts. Of course they had a little help from the gang at Stratus Media Group, Inc., who gobbled up the remains of ProElite with hopes of cashing in on a suddenly lucrative MMA market.

They may not have the video library, the fighter contracts or the ratings machine known as Kimbo Slice -- but they don't have the "spend first, ask questions later" policy that doomed EliteXC either.

From Paul Feller, President and CEO of Stratus:

"This acquisition provides the resources and abilities ProElite needs in order to focus on strengthening and repositioning its world class MMA fighting platform in addition to the brand itself. Under the new SMDI Action Sports Vertical, ProElite is launching a series of MMA events that will bring a new vitality to the business of MMA and reestablish ProElite as a leading international MMA organization."

Of course there is a long way to go before ProElite (or anyone not named UFC) can become a "leading International MMA organization," but it's not unrealistic to think that a sound business model and responsible spending can produce a successful promotion.

My only question for this and any new mixed martial arts endeavor: Is there enough talent to go around? And no, Da-Da 5000 doesn't count.

For more on the history surrounding the fall of ProElite click here.