K-1
Worldwide · Est. 1993
About K-1
K-1 is a martial arts organisation and martial arts brand established in 1993, well-known worldwide mainly for its heavyweight division fights. In January 2012, K-1 Global Holdings Limited, a company registered in Hong Kong, acquired the rights to K-1, and is the current organizer of K-1 events worldwide.
K-1's predecessor Seidokaikan Karate was formed in 1980 by Kazuyoshi Ishii, a former Kyokushin karate practitioner who had formed his own organization to help promote the best stand-up martial artists. Seidokaikan arranged several successful challenge events against other martial arts organizations, originally using rules based on the Kyokushin Knockdown karate rules, but gradually adapting and changing closer to kickboxing rules. In 1993, Mr. Ishii founded the K-1 organization exclusively as a kickboxing organization, closely cooperating with, but independent from Seidokaikan.
Starting in 2010, multiple stories began to surface regarding the financial troubles of K-1 and their parent company FEG. Simon Rutz, the owner of the Dutch-based kickboxing promotion It's Showtime, claimed in January 2011 that some fighters from It's Showtime had not been paid for fights in K-1. In early 2011, FEG publicly announced that they were facing financial problems and that the organization would take some months off to restructure. Many fighters and managers spoke out against FEG due to unpaid fight purses and objections to the direction that its owner was taking K-1. It appeared that financial problems were severe, and that FEG could potentially lose ownership of K-1.
The entire K-1 brand, along with most of its trademarks, with the exception of, 'K-1 Koshien', 'K-1 MAX' and 'Dream', were sold to Japanese real estate firm, Barbizon Corporation Limited, on July 28, 2011. On February 1, 2012 EMCOM Entertainment Inc. purchased K-1 from Barbizon.
After the event, controversy and rumors circulated over the fact that once again, fighters were not paid for their performances. Problems were compounded due to unpaid financial obligations of FEG, and the complete transfer of ownership of the K-1 name was not yet complete. As a result, the K-1 World Grand Prix scheduled for 2012 would be cancelled if these issues were not resolved. Ultimately, K-1 Global Holdings, Ltd. was blamed for the failure of an event they did not promote. They were also accused of not paying fighters when in fact, the promoter and FEG shared responsibilities in ensuring fighters were paid. The Chairman of the new K-1 resolved the matter by paying fighters what was owed and including a 50% bonus. It was announced in June 2012 that It's Showtime was purchased by Glory Sports International, eventually to be merged in their new promotion GLORY.