MusclePharm ending sponsorship with UFC, opts for 'less expensive' model with Team Elevation

Sponsoring Ultimate Fighting Championship (UFC)?

Pfffft ... that's so 2014.

Besides, the world's largest mixed martial arts (MMA) promotion is still on its honeymoon with Reebok after entering into an exclusive fight week agreement back in July (for better or for worse). That may explain why MusclePharm is looking to use its sponsorship bucks a little more fruitfully.

From today's letter to shareholders:

We have applied the same scrutiny to our sponsorship and endorsement agreements with athletes, celebrities, and sporting organizations. While we believe that our old model of agreements with these partners helped to boost our credibility by increasing exposure toour brand, we also need to be…