GLORY Sports International, promoters of a series of international kickboxing events, have purchased Fuji TV’s library of K-1 videos. This includes basically every K-1 event that aired between 1993 and 2006, and expands GLORY’s video library to over 3000 hours.
It seems this move isn’t so cut and dry as it appears though, as K-1 is disputing the sale. Apparently, the sale was done through the now bankrupt FEG, who had given up the K-1 archives and trademarks to K-1 Global in 2012.
According to K-1 Global, FEG more or less just sold the footage twice, something they’re definitely not allowed to do. K-1 Global warned FEG about the illegality of the sale, but it did not seem to make a difference.
Now K-1 has issued a statement on its official website, saying that FEG sold the footage as “a nuisance to K-1 Global and to publicly embarrass the company.” They’ve also announced their intention to take the matter to court.
We’ll see how this one plays out in the coming months. In the meantime, you can read the full statement below:
“Yesterday a statement was issued by GLORY Sports International in regards to the purchase of certain parts of K-1’s archive footage. K-1 Global insists that the copyright to this footage does in fact belong to K-1 Global, as per the original agreements in which the K-1 archives and trademarks were transferred to K-1 Global in 2012.
“In 2012 K-1 Global acquired the rights to the K-1 video library that FEG owned, as well as the Japanese K-1 trademark that was controlled by a third party for around $7 million. K-1 Global also purchased the trademarks for the rest of the world for an undisclosed price from K-1 founder Kazuyoshi Ishii and his group. These deals have all been finalized.
“After the deal with Mr. Ishii was finalized, FEG declared bankruptcy in Japan and a lawyer was appointed as a controller for the bankrupted company. This new controller of FEG insisted that FEG still had the copyrights of the K-1 archive footage in their control and sold the “Use Right” of the K-1 archives for an approximate amount of $140,000. K-1 Global had warned FEG’s new controller that K-1 Global does indeed own the rights to this library, but FEG’s new controller refused to listen and went through with the sale.
“Now the bankrupted FEG has sold the “Use Right” for $140,000, much less than what K-1 Global initially paid for it, as a nuisance to K-1 Global and to publicly embarrass the company. Essentially, FEG has sold the footage twice now, although it was initially to K-1 Global for a much higher sum. At this time, the bankrupted FEG has sold footage that it no longer owns to GLORY Sports International. K-1 Global has no option right now but to bring this matter to court.”