Details of the actual agreement were limited, but what we do know is that Mark will have ultimate control over the series and there is a possibility of Mark producing ppv events based on the series. Burnett is set to receive 17,000,000 shares of ProElite common stock exercisable at $3.00 per share in exchange for his services. As of June 21, there were approximately 43 million shares of ProElite common stock outstanding trading at $12.00 per share.
So after trumping the UFC/Xenergy partnership by allying with Rockstar energy drink, and trumping UFC 72 with the Baroni v. Shamrock Strikeforce card, EliteXC appears to have just trumped TUF as well. Looks like we got a fight on our hands.
UPDATE: Looks like EliteXC just snagged LHW contender Sokoudjou from underneath Zuffa as well.