According to MMAJunkie, we might be seeing a resold and packaged EliteXC in 2009. It seems they have some serious bidders who intend to return the defunct promotion to action. Fighter agent Ken Pavia thinks it might happen in the first quarter of 09, which would be a ridiculous turnaround for a resurrection, unless Jesus Christ is installed as chief operator. EliteXC was run just about as poorly as you could run a MMA promotion. I gotta believe that is what would make bidders think they can turn it around and make a profit. I'll give credit to anyone if they actually buy it, because you gotta have guts (or misguided optimism) to think you can turn around a dead MMA promotion in this economic climate.
Now for the standard warning. Do not get your hopes up. It is in ProElite's best interest to make people think they are close to a sale. Pavia also isn't an innocent bystander. He has several fighters who are under contract with EliteXC and cannot fight until this mess gets cleaned up. By telling people there are multiple bidders and a sale is likely to happen this month, it could push a viable party to solidify their offer.