California State Athletic Commission Insolvent, According to Report

According to a report form MMAFighting.com's Mike Chiappetta, the California State Athletic Commission, better known to many as the CSAC, is in complete dissary, actively piling on debt as the commission has become completely insolvent.

Numbers released in a memorandum from Department of Consumer Affairs budget officer Taylor Schick showed that if the CSAC continues on it's current path a deficit of upwards of $700,000 could be accrued by the end of fiscal year 2013. This could cause a cataclysmic effect on MMA and boxing in the Golden State:

"Without the ability to pay for even basic services, the Commission will have no choice but to cease operation immediately and cancel or postpone indefinitely all Commission regulated events," Department of Consumer Affairs (DCA) director Denise Brown wrote in a recent letter to CSAC's executive director George Dodd.

These turn of events to the CSAC's financial woes caused one commissioner, Linda Forster, to resign on Thursday, noting she was 'shocked' by the state of the finances, while leaving questions as to whether or not George Dodd should be keeping his job, after not adequately informing the commission about the insolvency of the athletic commission fund.

California will still have to handle the upcoming July 11 UFC on FUEL 4 show, taking place at the HP Pavilion in San Jose, as well as August 4's UFC on FOX 4 event, which will be held at Los Angeles'' Staples Center. UFC also had two events in California in 2012 and three in 2011.

For more on the CSAC and MMA fighting in general, check out MMA Fighting.