Rumors are true: IFL looking for new partners or buyer

During a media conference call on Thursday, International Fight League CEO Jay Larkin confirmed rumors that the organization is actively shopping the promotion for new investors and could even possibly sell the company.

"Are we actively looking for a partner or a sale? The answer is, yes," Larkin stated on the call. "We entertain phone calls and questions almost on a daily basis from potential investors, potential buyers, people who want to get in the MMA business, people who are already in the MMA business."

The news comes just prior to the organization's May 16 event, which will take place at the Mohegan Sun in Connecticut. The promotion will then go on a brief hiatus until its August 15 event, which will feature a newly designed hexagon-shaped ring dubbed "The Hex."

Larkin also stated that the company recently made significant changes in its business structure to cut losses. While they are actively shopping the promotion, they have received support from its original investors.

The CEO of the IFL also went on to comment that he believes solidarity between promotions is the only way MMA will survive and be successful in the future.

"This harkens back to something I've been saying consistently, is that I do believe the MMA world is a fractured world, and the way to make it a healthier, stronger, and a mainstream sport and industry, is through consolidation and roll-up," Larkin stated. "There's just too many little groups out there who are fighting over the same meatless bone."

For now the IFL will prepare for its upcoming show on May 16 and then wait until August to debut "The Hex."