Im going to put that down to luck! Not everyone is in the vodka literary field like you!
I can count 4 times dealing with russian business people in the last 5 years. Each time they have gone back on their word and tried to change everything after verbal agreements. I now have a no business with Russians policy!
Regardless of our personal experiences, in this case I feel M1 are in the right.
Put it this way:
You live in the UK, right? Say the UFC have never featured in the UK. Lets also say that you run UK based MMA organization that puts on lots of shows around their home regions and have been doing so for a decade. You have deals with all the regional TV companies and various venues. Basically, this is your home turf and you've worked hard to get your infrastructure in place. You have a lot of fighters and one super star who is very popular in the UK and europe. Hes also a partner in your organization.
Now, the UFC have always wanted to break into the UK. So they offer to sign your super star. They also want to do shows in the UK in the best venues featuring your super star fighter/partner. In other words they want everything from you. All your good shit.
With the above in mind, would you go ahead or would you want to co-promote any shows done in the UK? Becuase it seems to me that without co-promotion, the UFC would effectively take over MMA in the UK and leave you with nothing.