Frampton split from McGuigan??

[Mark Lloyd]

The McGuigans don't seem to be doing a good job of running their company and for the last 2 years have had the first stage of winding up petitions made in respect of Cyclone Promotions. http://www.bizdb.co.uk/filings/ec/04/ec ... 52a69e.pdf Basically they can't get their accounts in on time and this is especially embarrassing as it happened two years in a row and they are such a small company that they qualify for a total exemption so the accounts really shouldn't be continuously late. This is the accounting equivalent of having your star boxer turn up for a final eliminator 1lb over weight - no professional would allow it.

As for ownership it is highly likely that the McGuigans own 100% of the company (for what it's worth). Stephen Clifford offers "nominee" services in which he acts as a front for the ultimate shareholder and acts on their instructions whilst ensuring discretion as to the final owner. This is cute considering the company is worth -£545k. The use of Nominee services is unusual in this case and signals that the owner is the McGuigans and most likely 100% Barry or a 50/50 arrangement between him and Sandra. It is worth noting that Cyclone Promotions UK is 50/50 owned between Barry and Sandra.

Carl won't have owned any of the company but may have possibly had a profit share arrangement. This is a moot point anyway as it was him who was earning all the money and paying all the wages for the extended McGuigan family.

Use of a nominee company isn't at all unusual, particularly when a high profile person(s) is involved in an ownership structure.

The use of a nominee company in this instance is unusual as the whole business is based upon who owns it e.g Barry McGuigan. He is trading off his name which is inextricably linked to Cyclone...it was his nickname after all. To publicly trade off the name and leverage his legacy yet hide the fact that he owns it is indeed unusual.

[Boxerbeetle]

The McGuigans don't seem to be doing a good job of running their company and for the last 2 years have had the first stage of winding up petitions made in respect of Cyclone Promotions. http://www.bizdb.co.uk/filings/ec/04/ec ... 52a69e.pdf Basically they can't get their accounts in on time and this is especially embarrassing as it happened two years in a row and they are such a small company that they qualify for a total exemption so the accounts really shouldn't be continuously late. This is the accounting equivalent of having your star boxer turn up for a final eliminator 1lb over weight - no professional would allow it.

As for ownership it is highly likely that the McGuigans own 100% of the company (for what it's worth). Stephen Clifford offers "nominee" services in which he acts as a front for the ultimate shareholder and acts on their instructions whilst ensuring discretion as to the final owner. This is cute considering the company is worth -£545k. The use of Nominee services is unusual in this case and signals that the owner is the McGuigans and most likely 100% Barry or a 50/50 arrangement between him and Sandra. It is worth noting that Cyclone Promotions UK is 50/50 owned between Barry and Sandra.

Carl won't have owned any of the company but may have possibly had a profit share arrangement. This is a moot point anyway as it was him who was earning all the money and paying all the wages for the extended McGuigan family.

Use of a nominee company isn't at all unusual, particularly when a high profile person(s) is involved in an ownership structure.

The use of a nominee company in this instance is unusual as the whole business is based upon who owns it e.g Barry McGuigan. He is trading off his name which is inextricably linked to Cyclone...it was his nickname after all. To publicly trade off the name and leverage his legacy yet hide the fact that he owns it is indeed unusual.

Not really. For instance, McGuigan may not own the shares in their own right - he could own them via an offshore trust, or via a Cayman holding company. He'd be unlikely to want either of those scenarios as public knowledge for presumably obvious reasons, hence using a nominee company as intermediary.

[Mark Lloyd]

Use of a nominee company isn't at all unusual, particularly when a high profile person(s) is involved in an ownership structure.

The use of a nominee company in this instance is unusual as the whole business is based upon who owns it e.g Barry McGuigan. He is trading off his name which is inextricably linked to Cyclone...it was his nickname after all. To publicly trade off the name and leverage his legacy yet hide the fact that he owns it is indeed unusual.

Not really. For instance, McGuigan may not own the shares in their own right - he could own them via an offshore trust, or via a Cayman holding company. He'd be unlikely to want either of those scenarios as public knowledge for presumably obvious reasons, hence using a nominee company as intermediary.

Could well be the case but of little benefit to him now as the company is largely worthless and he has lost his non-Dom status as of April. Either way it hasn't been the success that they hoped and Carl is probably best off out of it.

[Loynesy]

Tend to agree with Mark Lloyd in this. Given McGuigan is clearly UK tax resident, if he is indeed the main beneficiary of the profits, its tax neutral as to whether he uses a nominee company or not, same for Frampton.

Only logical tax reason would be if a significant share of the assets were going to someone who is able to lawfully avoid UK tax in its various guises.

We are just speculating, could be all sorts of non-tax reasons.

[MarkMcBurney]

Certainly something odd going on with the accounting for Cyclone; their latest accounts up to 29th June 2016 include the revenue from the Quigg fight in February of last year, and the balance sheet shows only £277k of 'available funds' made up of debtors and cash in the bank. They also show a loss for the year of £545k!

Very odd. It owes, at 29th June last year, over £800k to creditors.

[manchester-mexican]

Frampton mentioned after the Gutierrez call off that he had a bad camp and he wasn't really himself, maybe motivation??

How could he get properly motivated for such a shite fight?

mayweather has no problem doing it

[manchester-mexican]

Saying that Frampton will def not go with Hearn but has split from Cyclone and will sign a 4 fight deal in the States with Haymon taking control.

[Arsenal49]

Certainly something odd going on with the accounting for Cyclone; their latest accounts up to 29th June 2016 include the revenue from the Quigg fight in February of last year, and the balance sheet shows only £277k of 'available funds' made up of debtors and cash in the bank. They also show a loss for the year of £545k!

Very odd. It owes, at 29th June last year, over £800k to creditors.

How did u find that out

[chad]

Certainly something odd going on with the accounting for Cyclone; their latest accounts up to 29th June 2016 include the revenue from the Quigg fight in February of last year, and the balance sheet shows only £277k of 'available funds' made up of debtors and cash in the bank. They also show a loss for the year of £545k!

Very odd. It owes, at 29th June last year, over £800k to creditors.

How did u find that out

https://s3-eu-west-1.amazonaws.com/docu ... 4bXizAU%3D

[Coco]

I always thought they would end up in court like he did with Eastwood, I bet he is hoping he has better luck this time.

[3132DW]

Saying that Frampton will def not go with Hearn but has split from Cyclone and will sign a 4 fight deal in the States with Haymon taking control.

He might not like Hearn but he's not daft to realise the money in the US isn't what it was - especially from Al Haymon so possibly the only option is to stay here and rebuild again and fight regularly.

That's been one of his issues is the inactivity.

[billy nelson]

I don't think Carl should go anywhere and I don't beleive he will, the grass isn't greener on the other side, stay were it's worked and resolve any issues like men, don't let the dogs of the sport sway him

[lurkyshaka]

I don't think Carl should go anywhere and I don't beleive he will, the grass isn't greener on the other side, stay were it's worked and resolve any issues like men, don't let the dogs of the sport sway him

The grass is greener in this case....literally greener, as in he could earn with Hearn.
He might not like Hearn, but he can feature in big fights with Matchroom.

Cyclone have failed to deliver the money that Frampton's talent warrants. He needs major fights and Cyclone aren't bringing those to him.

The only genuine concern with leaving Cyclone is his relationship with Shane, which has seemed to be largely successful. Would leaving Cyclone also mean a change of trainer? That perhaps is more of an issue. Then again there are other quality trainers around and a change is as good as a rest sometimes.

[bigB]

Frampton Vs Selby is a payday so that should be his first port of call for me. Then if he wins chase the Santa Cruz settler.

[brian13]

Saying that Frampton will def not go with Hearn but has split from Cyclone and will sign a 4 fight deal in the States with Haymon taking control.

Hearn would be the front runner in my eyes for Frampton. Frampton is a PPV fighter immediately or might have one fight on Sky Sports before going on box office. He also has a big following resulting in a big gate for his fights. Hearn would get him the big fights and would be able to get a lot of names over to fight him.

[billy nelson]

I don't think Carl should go anywhere and I don't beleive he will, the grass isn't greener on the other side, stay were it's worked and resolve any issues like men, don't let the dogs of the sport sway him

The grass is greener in this case....literally greener, as in he could earn with Hearn.
He might not like Hearn, but he can feature in big fights with Matchroom.

Cyclone have failed to deliver the money that Frampton's talent warrants. He needs major fights and Cyclone aren't bringing those to him.

The only genuine concern with leaving Cyclone is his relationship with Shane, which has seemed to be largely successful. Would leaving Cyclone also mean a change of trainer? That perhaps is more of an issue. Then again there are other quality trainers around and a change is as good as a rest sometimes.

dont for a second beleive all you read about boxers earnings, with regards to top fights was santa cruiz not top fights the mc guigans delivered there!

[billy nelson]

Saying that Frampton will def not go with Hearn but has split from Cyclone and will sign a 4 fight deal in the States with Haymon taking control.

Hearn would be the front runner in my eyes for Frampton. Frampton is a PPV fighter immediately or might have one fight on Sky Sports before going on box office. He also has a big following resulting in a big gate for his fights. Hearn would get him the big fights and would be able to get a lot of names over to fight him.

Barry McGuigan gets him big fights and more importantly there's a bond there

[lurkyshaka]

I don't think Carl should go anywhere and I don't beleive he will, the grass isn't greener on the other side, stay were it's worked and resolve any issues like men, don't let the dogs of the sport sway him

The grass is greener in this case....literally greener, as in he could earn with Hearn.
He might not like Hearn, but he can feature in big fights with Matchroom.

Cyclone have failed to deliver the money that Frampton's talent warrants. He needs major fights and Cyclone aren't bringing those to him.

The only genuine concern with leaving Cyclone is his relationship with Shane, which has seemed to be largely successful. Would leaving Cyclone also mean a change of trainer? That perhaps is more of an issue. Then again there are other quality trainers around and a change is as good as a rest sometimes.

dont for a second beleive all you read about boxers earnings, with regards to top fights was santa cruiz not top fights the mc guigans delivered there!

He had to travel twice and they couldn't lure Santa Cruz to Belfast for the rubber match. I think that failure started the troubles off. I'll be surprised if he's still a Cyclone fighter in the near future.

Lets be honest.....Firstly he's bankrolling the McGuigan family. And secondly he would earn more with Matchroom.

[bripez]

Saying that Frampton will def not go with Hearn but has split from Cyclone and will sign a 4 fight deal in the States with Haymon taking control.

Hearn would be the front runner in my eyes for Frampton. Frampton is a PPV fighter immediately or might have one fight on Sky Sports before going on box office. He also has a big following resulting in a big gate for his fights. Hearn would get him the big fights and would be able to get a lot of names over to fight him.

Barry McGuigan gets him big fights and more importantly there's a bond there

True - the last time I saw a bond like that between a boxer and promoter was Barry and Mr Eastwood!

[coneye]

I don't think Carl should go anywhere and I don't beleive he will, the grass isn't greener on the other side, stay were it's worked and resolve any issues like men, don't let the dogs of the sport sway him

Mmmm,, so your saying he should stay with an outfit , who cannot deliver the big fights , He has to bankroll the whole familly has the main earner , I suppose you think he should stay on as a director to a company thats apparantly owing over 800 grand .. I'm a bit suprised has a trainer your saying this , Loyalty is one thing stupidity is another, ,,, It appears that Barry has given up being a director for this company which is in debt , so why should'nt Frampton ,, Bankrupsy seems to be looming on the horizen , get out quick . , Get to America or go to Hearn , and make the retirement money while he can

[coneye]

double post

[dohboy]

Maybe keep an eye on the court listings over the next while, going to get messy

[liamlion]

Rumour on twitter that Frampton is going all in with Haymon on four fight, multi-million pound/dollar deal. Haymon represents Selby and Santa Cruz also. Suggestion is that Shane has been dropped as trainer too.

[Coco]

Shane has a limited portfolio as a trainer, Frampton was gifted to him and made him look good, who else?
Flintoff and Haye!

[Tarkus]

Rumour on twitter that Frampton is going all in with Haymon on four fight, multi-million pound/dollar deal. Haymon represents Selby and Santa Cruz also. Suggestion is that Shane has been dropped as trainer too.

He will still need a promoter to represent him officially. I propose Schaefers Ringstar as a likely new home for him.