4 days ago, despite recent backlash from the Jiu-Jitsu community, Metamoris announced a mega event for July 17th at the Ray Dolby Ballroom in Los Angeles: METAMORIS 7: GRACIE VS BUCHECHA 2 in hopes to be able to repay its debts and keep the company affloat.

Full Card:

ROGER GRACIE vs. MARCUS ALMEIDA “BUCHECHA”
GABRIEL GONZAGA vs. SATOSHI ISHI (Olympic Gold Medalist in Judo).
DILON DANNIS vs. GILBERT “DURINHO” BURNS
RALEK GRACIE vs. TIM SPRIGGS
YURI SIMOES vs. MATHEUS DINIZ
SECRET MATCH.

The news about the incredible fight card spread like wildfire, but now a few major problems are threatening the feasibility of the event. Today Tim Spriggs who is set to face Metamoris founder Ralek Gracie, has confirmed on social media that he hasn’t signed any contract yet and that he had just been asked if he was interested.

Chris Tran: this sounds so ridiculous. Tim Spriggs is this why you signed up?
Tim Spriggs: I haven’t signed shit!

All they did was ask if I was interested.

Sources close to Marcus Buchecha have said that Buchecha asked to be paid in advance for his super fight with Roger Gracie. Both  parties hadn’t come to an agreement yet, but Metamoris already started advertising.
Metamoris still owes Metamoris Challenger/Underground Competitors, and staff including AJ Agazarm owed 2,000$ and Marcel Goncalves from Florida. Goncalves won the Metamoris Challengers last November and was promised by Ralek Gracie to be paid the prize money of 10,000$ + travel expenses. There are many more athletes that have been waiting since last year to be paid.

Metamoris founder Ralek Gracie was on the Inside BJJ Podcast and discussed many issues in detail (1h30 mins episode).

During the podcast, Ralek explained in detail what happened with Metamoris. Metamoris 1 and 2 both cost 1 million dollars to produce. The main investor pulled out after Metamoris 2 because he didn’t want to cover any more losses and they had to regroup to build Metamoris 3. Ralek stated multiple times that he lacked business experience and that he made multiple mistakes. He is counting on the support of the Jiu-Jitsu community to buy the event so that he can pay his past debts.

According to sources close to Metamoris, it is said that all debts amount to 200,000 $. When Ralek was asked if he would pay back all the competitors and staff, he answered:

Absolutely. I’m going to start fighting in MMA to pay these guys back. That’s how I’m serious I am about this. My dad, his level of integrity, people don’t even know about. My dad told me that I needed to call everybody that I owe. Where am I going to run? There is only forward.

Ralek has a 3-0 MMA record. He retired after a unanimous decision win against Kazushi Sakuraba in 2010.

When asked if his family could help him out to cover his debts. Ralek answered:

I’m not associated with the Gracie Academy. I’m on my own.

Garry Tonon, who has competed in two Meatmoris in the past made a hilarious stament on his Facebook, not directly targeting Metamoris but it is clear what he meant. He called the activities a ‘Ponzi Scheme’

A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator. Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent.

Ponzi schemes occasionally begin as legitimate businesses, until the business fails to achieve the returns expected. The business becomes a Ponzi scheme if it then continues under fraudulent terms. Whatever the initial situation, the perpetuation of the high returns requires an ever-increasing flow of money from new investors to sustain the scheme.

Tonon’s Facebook post: