Will There Be a 2011 K-1 World Grand Prix?

Following the once great K-1 in 2011 has been a maddening experience. The company has long had issues delivering on their promises, but between the rumored shows, bankruptcy, and sale, 2011 has been an especially befuddling year. Now, the 2011 K-1 World Grand Prix has entered this same state of confusion. Where do things stand exactly with the event?

Let's see what we can figure out:

• All year, rumors of a 2011 K-1 Grand Prix were decidedly on-agan, off-again. Over the summer, the rights to K-1 were reported as being sold to an unrelated Japanese company, with some possible unnamed investors from the world of international kickboxing. After that sale, rumors continued to circulate, with fighters mentioning being approached to take part in a GP later this year.
• Earlier this month, K-1 officially announced the 2011 K-1 World Grand Prix, set to begin with the Final 16 on October 29 in China. Eleven of the 16 participants were officially announced:

Badr Hari (77-11) - 2008 & 2009 K-1 GP runner-up
Hesdy Gerges (39-9-1) - Current It's Showtime Heavyweight champion
Tyrone Spong (67-6-1-1) - 2010 Final 8
Ruslan Karaev (13-9) - 2008 K-1 Taipei champion; 2005 K-1 Las Vegas champion
Daniel Ghita (39-7) - 2010 Final 8; 2009 K-1 Tokyo GP champion
Ben Edwards (32-7-2) - 2010 K-1 Oceania GP champion
Melvin Manhoef (37-9) - 2009 Final 16
Dzevad Poturak (47-16-1-1) - K-1 Grand Prix debut
Sergei Lascenko (27-9) - 2011 SuperKombat GP champion; 2009 K-1 Tokyo GP runner-up
Rico Verhoeven (35-5-1) - K-1 Grand Prix debut
Anderson "Braddock" Silva (29-5-1) - K-1 Grand Prix debut

• Notable in this announcement was the news that It's Showtime would be co-promoting the show. It's Showtime has had a rocky relationship with K-1 in 2011, as they have very publicly spoken about their fighters not being paid, and had a falling out earlier in the year when K-1 pulled out of a planned co-promoted show in Amsterdam, forcing It's Showtime to cancel their yearly super show.
• Shortly after the announcement, 3 more names were rumored additions to the field. Ben Edwards stated that he would be fighting Errol Zimmerman in the Final 16, and both Rustemi Kreshnik and Xhavit Bajrami were also allegedly added, leaving just two remaining spots open.
• Last week, It's Showtime announced the retirement of Badr Hari, and in the midst of that announcement threw the entire Grand Prix into doubt, stating:

If K-1 will host a World Grand Prix this year, Badr will also participate to that. The Grand Prix Final is scheduled for December 10 in China. If this World Grand Prix will take place, depends if K-1 will be able to pay its debts to IT'S SHOWTIME and others. If not, the fight on January 28 will be Badr's only remaining fight as a kickboxer.

While it seemed K-1 and It's Showtime had worked out their financial issues, obviously that is not the case. To be clear, if It's Showtime pulls their fighters, the K-1 Grand Prix can not happen as it is currently planned. And as of right now, it seems It's Showtime thinks that is a definite possibility.

K-1 is trying desperately to hold on, and so are we as fans. Yes this line-up is greatly diminished from last year's, but it was still the Grand Prix, and I was still greatly looking forward to it. But at some point, we may need to accept the reality. K-1 may pull something together, may even crown a 2011 GP champion, but the truth is, it's over. And it has been ever since Alistair Overeem put Peter Aerts down one year ago. The only question left is, when will they pull the plug?