This is untrue...as it does the IFBB no good for a show to tank, thus they get no future revenue. I'm sure they would much prefer a show to be a great success and be paying sanction fee's for many years...
That being said...I've had a long standing opinion that the IFBB would be better served if they put on their OWN shows, for the very reason you outlined...
Call me crazy...but the NFL puts on NFL games...MLB puts on baseball games, NHL, NBA, etc, etc....you don't see games being "promoted" by an individual.