HDNet Acquires IFL Assets

Mark Cuban’s HDNet channel has gotten the go-ahead to purchase the remaining assets of the International Fight League, which filed for bankruptcy on Sept. 15., for $650,000.

The U.S. Bankruptcy Court of the Southern District of New York on Tuesday passed a motion allowing the now-defunct organization to complete the sale, according to forms filed Thursday with the Securities and Exchange Commission.

For the $650,000 price tag, HDNet will be entitled to all intellectual property, including the IFL’s film, video, and image library; its five-roped competition ring and team trademarks; and proprietary rights, including its Web site. The transaction also includes any remaining broadcast contracts the IFL acquired during its two-year tenure, which includes a deal with FOX Sports Network.

The IFL promoted 23 events in 24 months, and featured notable fighters like Ben Rothwell, Chris Horodecki, Jay Hieron, and Rory Markham. Many of the IFL’s brightest stars have recently signed deals with the UFC, WEC, and Affliction Entertainment.

Fast becoming a destination for MMA programming, HDNet boasts broadcast deals with Strikeforce, Affliction, M-1 Challenge, and Japan’s Dream promotion, among others.

Andrew Simon, CEO of HDNet Fights, said he expected the deal to close, but would not divulge any further details in a text sent to Sherdog.com.