Things with Bellator are starting to ‘hit the fan’. As of this morning, Bellator does not have a television deal to air their season four tournament scheduled for the beginning of 2011. Negotiations with G4 supposedly fell through around the time DirecTV decided to drop the channel from their lineup.

Each Bellator show costs the organization around $400,000. A fee of $65,000 is paid to NBC to broadcast regionally in hopes that NBC will pick up the program for a national time slot. They make roughly around $20,000 from sponsors per show which still leaves them in a substantial hole that gets deeper with every week of Bellator broadcasts.

The hedge fund investing in Bellator understood they would take a loss when the organization was created, but with season three wrapping up, they are not happy with the financial results thus far.

Bjorn Rebney has given away a substantial portion of his share in Bellator away to investors solely for them not to ‘pull the plug’ on Bellator.