BoxRec

Matchroom Sport press release - allegedly - 23/09/2013

At a press conference hosted by allegedly on 3rd September 2013, when referring to the administration of his company, W. Promotions Limited (formerly allegedly Promotions Limited), Mr Warren stated:-

“It's not just us, I think Matchroom Boxing went into Administration last week, errr, I’m sorry went into, errr, some form of … they wound it up last week.”

In response, Barry Hearn, Chairman of Matchroom Sport Limited said:

"Mr Warren's comment about Matchroom Boxing is untrue and misleading. He has suggested that one of my businesses has been closed due to insolvency, when that is simply not the case.

"By saying "it's not just us", Mr Warren has sought to compare Matchroom to his own insolvent company, W. Promotions Limited, which was put into administration last month owing, what is thought to be, over £3m to creditors (according to the company's Administrators).

"This follows the liquidation of allegedly’s previous trading vehicle, Sports Network Limited, which had reported creditors of over £5.5m.

"I feel strongly that Mr Warren's statement should be corrected as I have never wound up or put any company into Administration owing money to creditors. All of our boxing business is run through the parent company, Matchroom Sport Limited, which has been trading successfully for the last 31 years. Matchroom Boxing Limited was a subsidiary company which was dissolved with no creditors, having been dormant for nearly ten years.

"Given the misleading and potentially defamatory nature of Mr Warren's comments our lawyers have written to him asking that he correct his comments and make a donation to the British Boxing Board Charity. Having been given 7 days to respond he has failed to do so."

*Consults lawyer before considering a response*

FW being sued for slander! It's a bit like man bites dog!
I wonder who the creditors are? I hope it is not any fighters

Coco wrote:FW being sued for slander! It's a bit like man bites dog!
I wonder who the creditors are? I hope it is not any fighters

I wonder.....

Coco wrote:FW being sued for slander! It's a bit like man bites dog!
I wonder who the creditors are? I hope it is not any fighters

Wasnt sports network misteriously dissolved just after calzaghe sued the company and awarded around £2million? May be wrong, dont sue me

F.W is so bitchy. I noticed that comment too. Always has a pop at Barry or Eddie. And not allowing BH into the ring. Such a prick!

Coco wrote:FW being sued for slander! It's a bit like man bites dog!
I wonder who the creditors are? I hope it is not any fighters

The creditors are most likely FW's other companies, moving money from company to company can LEGALLY decrease tax payments.

Got to love this posturing from either side http://www.BS.com/frank-warren ... arn--69895

expe wrote:

Coco wrote:FW being sued for slander! It's a bit like man bites dog!
I wonder who the creditors are? I hope it is not any fighters

The creditors are most likely FW's other companies, moving money from company to company can LEGALLY decrease tax payments.

You are pretty naive if you think the only person FW owes money to when he dissolves a company is himself. Its been proven time and again to not be the case.

DMA1987 wrote:

expe wrote:

Coco wrote:FW being sued for slander! It's a bit like man bites dog!
I wonder who the creditors are? I hope it is not any fighters

The creditors are most likely FW's other companies, moving money from company to company can LEGALLY decrease tax payments.

You are pretty naive if you think the only person FW owes money to when he dissolves a company is himself. Its been proven time and again to not be the case.

The company that was wound up was owed money by other companies, most likely Warren's, which is why the money wasn't chased up and the company was liquidated, most likely for tax reasons.

expe wrote: The company that was wound up was owed money by other companies, most likely Warren's, which is why the money wasn't chased up and the company was liquidated, most likely for tax reasons.

Ok mate.

I think it's pretty appalling considering the loss of dean powell a major part of his team has sadly passed. Bad timing IMO this is how ruthless promoters are.

DMA1987 wrote:

expe wrote:

Coco wrote:FW being sued for slander! It's a bit like man bites dog!
I wonder who the creditors are? I hope it is not any fighters

The creditors are most likely FW's other companies, moving money from company to company can LEGALLY decrease tax payments.

You are pretty naive if you think the only person FW owes money to when he dissolves a company is himself. Its been proven time and again to not be the case.

x2

The Insider wrote: our lawyers have written to him

Love this

Riddick Blowe wrote:

The Insider wrote: our lawyers have written to him

Love this

Should've sent an email

hurlock wrote:I think it's pretty appalling considering the loss of dean powell a major part of his team has sadly passed. Bad timing IMO this is how ruthless promoters are.

I know what you mean and normally I would have sympathy but given it's W@rren and the fact that he wouldn't have blinked if the roles were reversed mean that I couldn't give a toss!

He must owe someone this time? It was JC last time when Sports Network went down. Did JC ever get his few £million?

carlbcfc wrote:He must owe someone this time? It was JC last time when Sports Network went down. Did JC ever get his few £million?

He didn't get the money, but it was stated that this company went under because it was owed money and it's not like Warren not to chase money up, making it likely to be his other companies that owed it money. Winding the company up allows him to reduce tax bills to 10% in some cases.

expe wrote:

carlbcfc wrote:He must owe someone this time? It was JC last time when Sports Network went down. Did JC ever get his few £million?

He didn't get the money, but it was stated that this company went under because it was owed money and it's not like Warren not to chase money up, making it likely to be his other companies that owed it money. Winding the company up allows him to reduce tax bills to 10% in some cases.

I would have thought if matchroom said this company owes 3 million, and the other side hasn't brought legal proceedings against them, then there might be an element of truth to it. Maybe, it could also be false, but its an odd thing to say.