According to multiple reports (which cite a report published by Yahoo! Japan and conducted by the Teikoku Databank), the embattled Fighting and Entertainment Group (FEG) has declared bankruptcy.
There has been no official statement made by FEG representative yet, but the parent company to K-1 has been accused for the last couple of years of not paying its fighters, or not paying them completely/on time. This report, if indeed true, validates the persistent rumors that FEG have been in dire financial straits for some time.
Earlier this year, it was announced that further efforts to rebuild and reorganize the K-1 promotion would be overseen by the Hong Kong-based company K-1 Global Holdings. Under the new guidance, a K-1 event to feature Mirko “Cro Cop” Filipovic has been scheduled for May 27 in Madrid, Spain.
No word yet on what, if any, effect FEG’s declaration of bankruptcy will have on that event.