The Elite XC promotion has folded. The promotion called off its Nov. 8 event in Reno and has been telling employees that they will be filing for bankruptcy, according to Sherdog.com. Nick Diaz's camp confirmed the news on the GracieFighter.com website by posting the following message: "We are confirming that EliteXC has folded. What this means for our fans and supporters is that there will not be a Nick Diaz vs. Eddie Alvarez fight on November 8th.” To read the full story, visit Sherdog.com.

Powell's POV: Wait, how in the hell am I going to see Gina Carano in HD on free television now? Don't even think about saying "American Gladiators" because that's just not going to happen. All joking aside, it sucks that fighters have one less company to work for and it's disappointing for fans who are hopeful that a promotion will rise up and emerge as legitimate competition for UFC.

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