http://sports.espn.go.com/sports/boxing/news/story?id=5601657 Looks like no Mayweather-pac unless Floyd gets away from Golden Boy. I bet Don King is LOVING this.
This the same Golden Boy who was skimming purses from undercard fighters and giving it to main event fighters they were lobbying to represent?
yeah but that was all cleared up. You see, the one document that suggested fraud just so happened to be the one document left on the desk of the guy in charge of such matters, who just so happened to be on his honeymoon when it came time to file. The sad part is that the undercard fighters, DiBella and the NYSAC were all OK with that explanation.
Well, this would explain Arum's absolute refusal to make a Pacquiao fight with a G fighter - he'd have to surrender his accounting responsibilities for any such promotion to G, and hence his ability to defraud G. TR seems more focused on the fact G is going through the wrong channels than on the allegations themselves. I wouldn't doubt this were happening, except how dumb could TR be to claim no sponsorship revenue when Tecate's printed right on the mat?
Actually that part isn't true at all, but instead the exact opposite. For fights against G fighters, Arum just demands a higher guarantee for Pacquiao, which means less profit for G. When it's Pac v. in-house opponent, THAT is when G has the right to look at the books. Hence, this current lawsuit.
right. G does the books, not Arum, when it's Pac vs. G. Which means he can't defraud anyone. So not only does he split the proceeds of the promotion and give G a piece of Pacquiao's share, he also can't inflate costs or hide revenue. I don't know about the higher guarantee - it sounds like that's expired. Could that have applied only to Pac/MAB, JMM, Hatton and ODH?
DLH and Hatton were the very two fights I had in mind. This part of the article made me laugh the hardest: Among various accounting issues that Golden Boy alleges in the Cotto fight is that Top Rank purposefully misreported "at least $6 million available to distribute" to Golden Boy and Top Rank by falsely reporting Pacquiao's purse. Golden Boy says it received accountings from the fight saying Pacquiao's purse was $15 million, but that the bout agreement on file with the Nevada State Athletic Commission, which oversaw the fight in Las Vegas, lists Pacquiao's purse as $7.5 million, raising the question of where the other $7.5 million went. In addition, the suit contends that Top Rank knowingly inflated the costs of the undercard by $800,000 "in an effort to show less profit for the bout, thereby fraudulently reducing the amount of money due to G." That undercard was tremendously shitty. I can see claiming you spent 3 million when you only spent 2 million. But they couldn't have spent more than 500,000 total. How the hell did they think they could get away with cooking the books on that part? I also find it interesting that for two consecutive fights (Cotto and Clottey), Arum publicly claimed that Pac was getting X, when he was actually only guaranteed Y.
What. Nate Campblell didn´t sue? Hopefully he got paid a high sum under the table. Otheriwse you are 38 years old, take Oscar and HBO to the cleaners. I can´t believe fighters always allow themselves to be pushed around like that. At least go to a lawyer present your case and see what your chances are.
I'm talking about the reports from the summer where Floyd spent time with Don King....King saying Floyd felt disrespected by Golden Boy. At the time I'd said it wouldn't surprise me to see Floyd get away from Golden Boy to make the Pac fight with Top Rank and Don King. Arum has said he'd much rather deal with King than Golden Boy... Mayweather and King together would make perfect sense...Mayweather hates Golden Boy and the first chance he gets to get away he does...Arum hates Floyd but loves money.
Lets face it. Golden Boy won't rest until they can staff all undercard fights with boxers who work for free.
but they are correct as far as the suit goes. Arum's books claim TR spent $1.2 million on that atrocity of an undercard. NSAC records show $421,000 in total purses. Unless Arum can legitimately show $800,000 in u/c expenses, it's safe to say G kinda sorta has a point. What bugs me about the suit in general is that while some of it is concrete, the rest is an attempt at "guilty until proven innocent." Lots of smoke, but not much fire.
according to Bob, though, it's not a legal issue - at least not in Federal court. it's very possible he did all of this knowing that it can only be settled in arbitration, in private. that's what pisses him off. he was banking on robbing G in private, with the worst case scenario being that he'd owe G some money. But G has made it public by trying to make a federal case out of it, which if Bob is correct, cannot legally be done. still, G has achieved at least one objective which is to indict Top Rank in the court of public opinion.
Boxingscene has the article and quotes from Arum regarding this. What I took away from it is Arum saying, "we didn't cheat Golden Boy and even if we did they're not allowed to sue us for it." You know, the 2010 version of "yesterday I was lying, today I'm telling the truth."
it's the same article referenced in the beginning of the thread. Musze summed it up well. Basically, Arum is claiming that because the agreement between TR and G is due to arbitration, it cannot be contested except through further arbitration (i.e. not in a Federal court). I think Arum's pissed because he's pretty sure G knows this but is pursuing the law suit anyway in order to publicize the dispute.
Yup... and I say, good for G on this one. Arum has done the same shit in the past, leaving behind well-placed time bombs when it comes to disputes with them, and always taking a proactive approach towards putting the right spin on any pending story/scandal. This time, G beat him to the punch, leaving him little room to spin, other than bitch about it becoming public knowledge. He might as well just say, "We're guilty, but..."
don't believe that's true...starting with the Oscar fight he's solely fought GB fighters...Hatton, Marquez and Mosley. I'm sure there's some kind of a right of refusal clause in one or some of those contracts...thus the "no negotiations took place" despite Schaeffer and Oscar initially saying there were. the problem for Mayweather, if he does an end run around a guy like Haymon, who has a cozy relationship with HBO, could fuck him in the long and short term. HBO hasn't done much with Don King recently so Don doesn't have the juice to get this done....the Mayweather-Pac fight. "However" if Mayweather has ANY out...based on the renewed bad blood between Top Rank and Golden Boy, I can see Arum making the Pac fight with Golden Boy left out of the picture...would suit Arum just fine and Mayweather does the same to Golden Boy he did to Top Rank...he bought himself out of his Top Rank contract to get the fight with Oscar. the "onliest" problem for Floyd...King never met a fighter he didn't take half from. Floyd will learn the hard way. Floyd may THINK he's gangster or play one on tv...Don is an old man but he's the real deal.
If the mediated agreement calls for binding arbitration, then Arum is probably correct, depending on the language of the contract. But, what I don't get is Arum saying this should be brought in front of Weinstein? I highly doubt that he would be the arbitrator if there were any disputes with the agreement he mediated over?
