Profit Margin Rose Sharply as a Result of Hiring Larkin

Former Showtime Boxing executive Jay Larkin has been named the IFL Chief Executive Officer.  When hired a few months ago, Larkin was originally slated to be the Chief Operating Officer.  However, after profits rose 12% in a single quarter, and 150% in comparison to that same quarter last year, Larkin was promoted to CEO.  According to Sherdog, the increase in revenue was the result of improvements in television and sponsorship and a 60% rise in ticket sales.  Larkin and the IFL have also concentrated on cutting costs, such as a large payroll and unnecessary office space.  The International Fight League has a scheduled Grand Prix on December 29th and is planning 9 events in 2008.  Larking replaces IFL co-founder Gareb Shamus.  Source: Sherdog