The Las Vegas Review Journal reports that major sponsor of the UFC, Xyience, has filed for bankruptcy protection amid claims of intimidation and death threats.

Xyience Inc. has reported $42.3 million in liabilities and only $5.3 million in assets. The voluntary bankruptcy petition, filed on Friday, follows an involuntary petition that was filed January 3 by founder and former CEO Russell Pike and others. The petitions were filed under Chapter 11, which provides protection from creditors while the company reorganizes.

"We're excited about the opportunity (to reorganize the company), " he said. "Xyience has a great brand name and has a strong affiliation with the UFC."

The UFC is among the creditors of Xyience, being owed $12.5 million in unsecured claims and $5.3 million in secured claims. Xyience signed a $15 million sponsorship agreement with the UFC for 2007.

Other than the close relationship Xyience has with the UFC, there is added interest in this story due to the accusations of death threats. As the Review Journal reports:

READ THE REST OF THIS ARTICLE AT BAD MAN SPORTS