BoxRec

Top Rank filed against Haymon today for damages of $100m. Haymon already facing litigation from Goldenboy for $300m suit.

How does this play out? Haymon has been acting as a promoter even though he isn't, and stifled boxing in recent years by signing guys up and keeping this for the most part in his stable.

Haymon losing this suit and going bust would be great for the sport imo, with most guys signed to TR or GBP, with oscar & bob willing to make cross promotions when fans want it.

None of the 3 big guys are good for the sport.Not one of them.
You are a damned fool to think Haymon's fighters selling their souls back to Arum or GBP.
They all have a strangle hold on the sport and I wish they would go away.

If there is better fights made out of it eventually I'm all for it, if not its a waste of time, maybe the FBI needs to do the same with boxing as it did with FIFA

Nothing will come of this. A lot of conjecture and opinion. They can't prove anything noteworthy in a court of law. Perhaps some sort of out of court settlement but Haymon ain't going anywhere. Let's be serious.

LOS ANGELES -- Top Rank, Inc., the nation's premier boxing promotion company, today filed a federal antitrust lawsuit seeking more than $100 million in damages and an injunction to stop the predatory practices of concert promoter-turned-boxing manager Al Haymon and the investment firm Waddell & Reed.

"Al Haymon and Waddell & Reed are engaged in a sophisticated scheme to gain control of the boxing industry,'' said Daniel Petrocelli, lead attorney for Top Rank and one of the nation's top trial lawyers.

"As the lawsuit explains in detail, they are violating federal law, defying state regulators and absorbing significant short-term losses to drive legitimate operators out of the business."

The lawsuit, filed in U.S. District Court of Los Angeles by global law firm O'Melveny & Myers, details an expansive illegal scheme allegedly being perpetrated by Haymon and Waddell & Reed including:

Simultaneously managing boxers and promoting fights in violation of the Muhammad Ali Boxing Reform Act passed by Congress in 2000 to protect fighters;

Forbidding boxers under contract to Haymon from being promoted by Top Rank and other promoters;

Paying boxers not to spar with fighters promoted by Top Rank;

Refusing to permit boxers to fight others not controlled by Haymon;

Blocking Top Rank and other promoters from television opportunities;

Preventing Top Rank and other promoters from access to major venues.

According to the complaint, Kansas City-based investment group Waddell & Reed has committed more than $400 million to these efforts and works closely with Haymon in executing the illegal plan.

Haymon works with over 200 fighters and his Premier Boxing Champions series has purchased time on NBC, CBS, ABC, ESPN, Spike TV and Fox Sports 1.

“In order to stifle legitimate promoters from competing against PBC, Haymon has obtained exclusivity commitments from broadcasters. Between these predatory ‘payola’ payments and the expenses of promoting each televised match, Haymon and Waddell & Reed are operating at a significant short-term loss in the millions of dollars,” the lawsuit wrote.

Top Rank is seeking more scrutiny from regulators.

Just this week, the company controlled by Haymon and Waddell & Reed was publicly criticized for illegally sabotaging competitors' efforts to secure venues in California. The lawsuit notes that in April 2015 the Association of Boxing Commissions asked U.S. Attorney General Loretta Lynch to initiate a DOJ investigation into the predatory practices of Haymon and Waddell & Reed. The President of the World Boxing Organization, Francisco "Paco'' Valcárcel, applauded the request.

"For decades, the boxing business earned a poor reputation because of some unsavory characters,'' Petrocelli said.

"Congress stepped in and enacted laws to clean up the industry. Top Rank is trying to ensure that Al Haymon and Waddell play by the same rules as everyone else.''

A similar lawsuit was filed earlier this year against Al Haymon and his financial backers, by Oscar De La Hoya's Golden Boy Promotions.

haymon was supposed to be in court yesterday but claimed he was sick and couldn't appear.

Ricky_ wrote:Haymon losing this suit and going bust would be great for the sport imo, with most guys signed to TR or GBP, with oscar & bob willing to make cross promotions when fans want it.

... or they'll go back to doing what they did before Haymon took half of GBP's roster ... do you even remember boxing's "cold war"?

Saying that TR/GBP would fix the sport has to be one of the dumbest things said on this forum.

BAD INTENTIONS wrote:

Ricky_ wrote:Haymon losing this suit and going bust would be great for the sport imo, with most guys signed to TR or GBP, with oscar & bob willing to make cross promotions when fans want it.

... or they'll go back to doing what they did before Haymon took half of GBP's roster ... do you even remember boxing's "cold war"?

Saying that TR/GBP would fix the sport has to be one of the dumbest things said on this forum.

I have some issues with a lot of Ricky's opinions.But I respect most of them.
This is one comment of his that I think he is flat out insane for even suggesting such a notion.
Arum is scum.GBP is following in Arum's footsteps.Which I find so funny considering how he left Arum.

Expect Evil Arum and Evil Oscar to join together and battle the Evil Empire of Al Haymon.

BAD INTENTIONS wrote:

Ricky_ wrote:Haymon losing this suit and going bust would be great for the sport imo, with most guys signed to TR or GBP, with oscar & bob willing to make cross promotions when fans want it.

... or they'll go back to doing what they did before Haymon took half of GBP's roster ... do you even remember boxing's "cold war"?

Saying that TR/GBP would fix the sport has to be one of the dumbest things said on this forum.

Remember it?

It's worse now than ever because of Haymon. Haymon is a parasite. There was never any issues before Schaeffer and Haymon became prominent. Fights like Pac vs Hatton got made. What teason would there be for Oscar & Bob not to make fights happen? They've both expressed a desire to do so. In Arum's own words, he and Don King hated each other yet they still got promotions done, hell he even got the deal done with Floyd in the end.

Haymon is essentially locking down a private club for his garbage low quality production exclusively for his roster.

It's also illegal what he's doing, breaking the Ali Act which is federal law;


`(1) IN GENERAL- It is unlawful for–

`(A) a promoter to have a direct or indirect financial interest in the management of a boxer; or

`(B) a manager–

`(i) to have a direct or indirect financial interest in the promotion of a boxer; or

`(ii) to be employed by or receive compensation or other benefits from a promoter, except for amounts received as consideration under the manager’s contract with the boxer.

Surely Haymon would have expected this type of thing and has suitably covered himself?

Would be very surprised if anything comes of it to be honest.

When is Congress going to finally turn their eyes to Boxing like they did to Baseball during the steroid situation? For some reason, they have elected to leave boxing alone and let this Wild Wild West continue. The Ali Reform Act is a joke. Since it's inception, and numerous obvious infractions, it has yet to stick to anyone. Not one case has gone to court.

The Ali Act is more to protect the other promoters, not the boxers themselves really. To this day, Boxing doesn't have any unionized player association, health coverage or retirement funds. The average boxer fighting on ESPN and non PPV or televised events makes $35,000 a year. Take the promotional fees and corner fees out of that figure and these boxers are making well below the minimum wage. It's sad. The top 2% of boxers make 99% of the money.

Boxing is a time bomb. All that it takes is one Promoter, like Haymon, to get greedy and call attention to the injustices. Maybe now Congress will see what a slave trade boxing really is and do something about it.

caldo2025 wrote:When is Congress going to finally turn their eyes to Boxing like they did to Baseball during the steroid situation? For some reason, they have elected to leave boxing alone and let this Wild Wild West continue. The Ali Reform Act is a joke. Since it's inception, and numerous obvious infractions, it has yet to stick to anyone. Not one case has gone to court.

The Ali Act is more to protect the other promoters, not the boxers themselves really. To this day, Boxing doesn't have any unionized player association, health coverage or retirement funds. The average boxer fighting on ESPN and non PPV or televised events makes $35,000 a year. Take the promotional fees and corner fees out of that figure and these boxers are making well below the minimum wage. It's sad. The top 2% of boxers make 99% of the money.

Boxing is a time bomb. All that it takes is one Promoter, like Haymon, to get greedy and call attention to the injustices. Maybe now Congress will see what a slave trade boxing really is and do something about it.

It's amazing just how badly wrong they have got it, imagine you re-launched the sport entirely from scratch, you couldn't come up with the current system if you tried, or were whacked out on LSD. "I know dude, we need, 4 champions... no! no! I got it, man, we need, like.... super champions!"

What we need is sanctioning bodies forcing mandatorys, regardless of who the promoters of the fighters are, instead of promoters dictating to the bodies, a super champion should be a fighter that has 2-3 belts from different bodies, there is probably more world champions in one division now than there was in all divisions combined 60 years ago, 3 should fight 2, 2 should fight 1, climb the way to the top

caldo2025 wrote:When is Congress going to finally turn their eyes to Boxing like they did to Baseball during the steroid situation? For some reason, they have elected to leave boxing alone and let this Wild Wild West continue. The Ali Reform Act is a joke. Since it's inception, and numerous obvious infractions, it has yet to stick to anyone. Not one case has gone to court.

The Ali Act is more to protect the other promoters, not the boxers themselves really. To this day, Boxing doesn't have any unionized player association, health coverage or retirement funds. The average boxer fighting on ESPN and non PPV or televised events makes $35,000 a year. Take the promotional fees and corner fees out of that figure and these boxers are making well below the minimum wage. It's sad. The top 2% of boxers make 99% of the money.

Boxing is a time bomb. All that it takes is one Promoter, like Haymon, to get greedy and call attention to the injustices. Maybe now Congress will see what a slave trade boxing really is and do something about it.

From what I read The Ali Reform act is a amendment to a safety act. Since congress can't or won't enforce rules or reform Boxing in general Leaving it up to the discretion of the States to enforce rules. Congress then investigated and found what was wrong with the Sport. The claim GBP and Top Rank made is on one of the founding's of Congress.

Ricky_ wrote:

BAD INTENTIONS wrote:

Ricky_ wrote:Haymon losing this suit and going bust would be great for the sport imo, with most guys signed to TR or GBP, with oscar & bob willing to make cross promotions when fans want it.

... or they'll go back to doing what they did before Haymon took half of GBP's roster ... do you even remember boxing's "cold war"?

Saying that TR/GBP would fix the sport has to be one of the dumbest things said on this forum.

Remember it?

It's worse now than ever because of Haymon. Haymon is a parasite. There was never any issues before Schaeffer and Haymon became prominent. Fights like Pac vs Hatton got made. What teason would there be for Oscar & Bob not to make fights happen? They've both expressed a desire to do so. In Arum's own words, he and Don King hated each other yet they still got promotions done, hell he even got the deal done with Floyd in the end.

Haymon is essentially locking down a private club for his garbage low quality production exclusively for his roster.

It's also illegal what he's doing, breaking the Ali Act which is federal law;


`(1) IN GENERAL- It is unlawful for–

`(A) a promoter to have a direct or indirect financial interest in the management of a boxer; or

`(B) a manager–

`(i) to have a direct or indirect financial interest in the promotion of a boxer; or

`(ii) to be employed by or receive compensation or other benefits from a promoter, except for amounts received as consideration under the manager’s contract with the boxer.

Trying to portray DLH as a bystander is like people who refer a disposed brutal dictator's reign as the "good ol' days".

I'm not a quote finder, but I'm pretty sure you're off on this one.

After reading ESPN's take on this lawsuit, I have to say that both lawsuits from GB and TR seems like nothing more than sour grapes. The only legitimate claim is that Haymon is not abiding by the firewall that should be present between the promoter and manager. Haymon has people like Lou DiBella posing as Managers in these transactions but it's all being done on Haymon's behalf. This is the only part of the equation that I feel GB and TR have a case for.

The rest of the lawsuit is a joke. Suing Haymon because he's freely not trying to make a profit in the first couple years while he tries to build a label? Suing Haymon because he's paying money to lock up arena's that they don't end up fighting in. Paying boxers not to spar with non Haymon fighters. None of this stuff is illegal. It's actually smart if you have the money. I will guarantee that Oscar and Arum have done all of these things in more building their label.

To me, Oscar and Arum are just mad that they weren't original enough to think of this first. This is America and a place of free enterprise. There's a reason why Haymon has the lions share of the best fighters. Boxers are making more money with Haymon and he's protecting their future a lot better than these other guys have. I'm glad Haymon is mixing things up in this crazy business of boxing. It's a new era and time for Arum to wrap it up imo.

caldo2025 wrote:After reading ESPN's take on this lawsuit, I have to say that both lawsuits from GB and TR seems like nothing more than sour grapes. The only legitimate claim is that Haymon is not abiding by the firewall that should be present between the promoter and manager. Haymon has people like Lou DiBella posing as Managers in these transactions but it's all being done on Haymon's behalf. This is the only part of the equation that I feel GB and TR have a case for.

The rest of the lawsuit is a joke. Suing Haymon because he's freely not trying to make a profit in the first couple years while he tries to build a label? Suing Haymon because he's paying money to lock up arena's that they don't end up fighting in. Paying boxers not to spar with non Haymon fighters. None of this stuff is illegal. It's actually smart if you have the money. I will guarantee that Oscar and Arum have done all of these things in more building their label.

To me, Oscar and Arum are just mad that they weren't original enough to think of this first. This is America and a place of free enterprise. There's a reason why Haymon has the lions share of the best fighters. Boxers are making more money with Haymon and he's protecting their future a lot better than these other guys have. I'm glad Haymon is mixing things up in this crazy business of boxing. It's a new era and time for Arum to wrap it up imo.

Can you link ESPN's take? I don't know enough about the facts or the law to make an informed judgment about the cases, so I'd like to see what those more knowledgeable are saying (though is ESPN a neutral source now that it's showing PBC?).

caldo2025 wrote: The rest of the lawsuit is a joke. Suing Haymon because he's freely not trying to make a profit in the first couple years while he tries to build a label? Suing Haymon because he's paying money to lock up arena's that they don't end up fighting in. Paying boxers not to spar with non Haymon fighters. None of this stuff is illegal. It's actually smart if you have the money. I will guarantee that Oscar and Arum have done all of these things in more building their label.

.

You heard of Stagecoach? Transport company, founded in Scotland but now operate across the UK and US. They've ran into trouble several times for breaking enterprise competition laws. When building in the UK they would go to a new town or city and run buses for free. Ofcourse they would make significant losses but it wouldn't be long until the competition when bankrupt, afterall who who paid pay for a bus ticket when you can get a free ride? Long term though, it created a monopoly allowing Stagecoach to charge what they like once they're the only show in town. For competitors, they went bust, staff lost their jobs. For customers there was no competition, no competitive pricing etc. I'm no expert on corporate law but i'm pretty sure these types of business practices have long since been made illegal.

Supporters of Haymon are like the free bus passangers. Seems great just now, some competitive cards on free tv while Haymon and his backers make massive losses designed to put other promoters out of business quickly and giving PBC a monopoly. Once that part of the plan has been executed, well, get ready to bend over, because the fans will have to pay back those losses, quickly.

caldo2025 wrote:After reading ESPN's take on this lawsuit, I have to say that both lawsuits from GB and TR seems like nothing more than sour grapes. The only legitimate claim is that Haymon is not abiding by the firewall that should be present between the promoter and manager. Haymon has people like Lou DiBella posing as Managers in these transactions but it's all being done on Haymon's behalf. This is the only part of the equation that I feel GB and TR have a case for.

The rest of the lawsuit is a joke. Suing Haymon because he's freely not trying to make a profit in the first couple years while he tries to build a label? Suing Haymon because he's paying money to lock up arena's that they don't end up fighting in. Paying boxers not to spar with non Haymon fighters. None of this stuff is illegal. It's actually smart if you have the money. I will guarantee that Oscar and Arum have done all of these things in more building their label.

To me, Oscar and Arum are just mad that they weren't original enough to think of this first. This is America and a place of free enterprise. There's a reason why Haymon has the lions share of the best fighters. Boxers are making more money with Haymon and he's protecting their future a lot better than these other guys have. I'm glad Haymon is mixing things up in this crazy business of boxing. It's a new era and time for Arum to wrap it up imo.

How about Haymon reserving venues to not let other promoters to have them and then releasing his reservations after it is too late for somebody else to use those venues ?

Ricky_ wrote:

caldo2025 wrote: The rest of the lawsuit is a joke. Suing Haymon because he's freely not trying to make a profit in the first couple years while he tries to build a label? Suing Haymon because he's paying money to lock up arena's that they don't end up fighting in. Paying boxers not to spar with non Haymon fighters. None of this stuff is illegal. It's actually smart if you have the money. I will guarantee that Oscar and Arum have done all of these things in more building their label.

.

You heard of Stagecoach? Transport company, founded in Scotland but now operate across the UK and US. They've ran into trouble several times for breaking enterprise competition laws. When building in the UK they would go to a new town or city and run buses for free. Ofcourse they would make significant losses but it wouldn't be long until the competition when bankrupt, afterall who who paid pay for a bus ticket when you can get a free ride? Long term though, it created a monopoly allowing Stagecoach to charge what they like once they're the only show in town. For competitors, they went bust, staff lost their jobs. For customers there was no competition, no competitive pricing etc. I'm no expert on corporate law but i'm pretty sure these types of business practices have long since been made illegal.

Supporters of Haymon are like the free bus passangers. Seems great just now, some competitive cards on free tv while Haymon and his backers make massive losses designed to put other promoters out of business quickly and giving PBC a monopoly. Once that part of the plan has been executed, well, get ready to bend over, because the fans will have to pay back those losses, quickly.

RIcky, excellent post and example. There happens to be a very thin fine line though as to when a government should step in. To me, it just seems that Top Rank and Golden Boy need to be more creative to combat this new product that Haymon is putting together instead of turning to the government for help. Every new company entering the market needs to emerge with something different and MOST companies do not turn a profit for years. I don't see this to be any different. Competition hurts every business's bottom line and in order to stay competitive, prices need to drop. GB and TR don't want to do that. They've been at the top for so long that it's almost and insult to be competition with another promoting arm. Well Haymon is here and he's here to stay so instead of complaining, they should fight harder for those boxers still on the fence. Haymon came from the music business and he's a shrewd lawyer so i'm sure he's got all his t's crossed and i's dotted and this case probably won't even make it to court.

To me, the government should never step in and stop me from riding the bus for free. If someone has that strategy and the deep pockets to withstand the losses then it's ok in my book.

ikorolev wrote:

caldo2025 wrote:After reading ESPN's take on this lawsuit, I have to say that both lawsuits from GB and TR seems like nothing more than sour grapes. The only legitimate claim is that Haymon is not abiding by the firewall that should be present between the promoter and manager. Haymon has people like Lou DiBella posing as Managers in these transactions but it's all being done on Haymon's behalf. This is the only part of the equation that I feel GB and TR have a case for.

The rest of the lawsuit is a joke. Suing Haymon because he's freely not trying to make a profit in the first couple years while he tries to build a label? Suing Haymon because he's paying money to lock up arena's that they don't end up fighting in. Paying boxers not to spar with non Haymon fighters. None of this stuff is illegal. It's actually smart if you have the money. I will guarantee that Oscar and Arum have done all of these things in more building their label.

To me, Oscar and Arum are just mad that they weren't original enough to think of this first. This is America and a place of free enterprise. There's a reason why Haymon has the lions share of the best fighters. Boxers are making more money with Haymon and he's protecting their future a lot better than these other guys have. I'm glad Haymon is mixing things up in this crazy business of boxing. It's a new era and time for Arum to wrap it up imo.

How about Haymon reserving venues to not let other promoters to have them and then releasing his reservations after it is too late for somebody else to use those venues ?

It's not illegal to do. I'm sure that he's putting money down and losing money for securing the location but how long do you think venues are going to keep allowing him to do this? If you call a restaraunt for reservations and never go, after awhile they won't even accept your reservation. If Haymon is paying these venues more money than they would have made hosting an event then it's still not illegal. I doubt that this is the case but I just don't think this is illegal. It's posturing and no different than McDonalds putting a lien on a parcel of land they know Burger King wants. They have no intention of opening a location there but it keeps BK from securing the spot. It happens all the time. TR and GB need to quit bitching and play ball. Haymon shouldn't be penalized for having great monetary support.

Using your dominant position to artificially lower prices is a monopolist behavior and can be prosecuted by the courts. Microsoft have been paying 100s of million for giving away free programs for years. Even company like Uber is getting banned in some countries for providing low price service.

Haymon uses hedgefund millions to drive out competition, while taking losses. I dont see how this is not a punishable practice. And they know it. Lets not forget Haymon decided to settle with Main Event rather then go to court.

All Haymon is doing is using the enormous capital he got from the investor to establish a monopoly on a poorly regulated busyness. I dont think its going to work personally. In fact, I expect Waddell & Reed to withdraw their support and cut the losses while they still can.

BTW driving free buses might be nice while it lasts, but as soon as company establishes the monopoly it will make you pay ten fold and fro ten times worse service. Monopoly laws are there for reason.

caldo2025 wrote:

Ricky_ wrote:

caldo2025 wrote: The rest of the lawsuit is a joke. Suing Haymon because he's freely not trying to make a profit in the first couple years while he tries to build a label? Suing Haymon because he's paying money to lock up arena's that they don't end up fighting in. Paying boxers not to spar with non Haymon fighters. None of this stuff is illegal. It's actually smart if you have the money. I will guarantee that Oscar and Arum have done all of these things in more building their label.

.

You heard of Stagecoach? Transport company, founded in Scotland but now operate across the UK and US. They've ran into trouble several times for breaking enterprise competition laws. When building in the UK they would go to a new town or city and run buses for free. Ofcourse they would make significant losses but it wouldn't be long until the competition when bankrupt, afterall who who paid pay for a bus ticket when you can get a free ride? Long term though, it created a monopoly allowing Stagecoach to charge what they like once they're the only show in town. For competitors, they went bust, staff lost their jobs. For customers there was no competition, no competitive pricing etc. I'm no expert on corporate law but i'm pretty sure these types of business practices have long since been made illegal.

Supporters of Haymon are like the free bus passangers. Seems great just now, some competitive cards on free tv while Haymon and his backers make massive losses designed to put other promoters out of business quickly and giving PBC a monopoly. Once that part of the plan has been executed, well, get ready to bend over, because the fans will have to pay back those losses, quickly.

RIcky, excellent post and example. There happens to be a very thin fine line though as to when a government should step in. To me, it just seems that Top Rank and Golden Boy need to be more creative to combat this new product that Haymon is putting together instead of turning to the government for help. Every new company entering the market needs to emerge with something different and MOST companies do not turn a profit for years. I don't see this to be any different. Competition hurts every business's bottom line and in order to stay competitive, prices need to drop. GB and TR don't want to do that. They've been at the top for so long that it's almost and insult to be competition with another promoting arm. Well Haymon is here and he's here to stay so instead of complaining, they should fight harder for those boxers still on the fence. Haymon came from the music business and he's a shrewd lawyer so i'm sure he's got all his t's crossed and i's dotted and this case probably won't even make it to court.

To me, the government should never step in and stop me from riding the bus for free. If someone has that strategy and the deep pockets to withstand the losses then it's ok in my book.

The "suck it up" attitude? Maybe, maybe Arum & Oscar are being bitches, it's not like they are short of a few bucks.

Trouble with boxing is it really is the wild west. It's like no other industry i know, almost like the live entertainments industry (bands/concerts) with a sport mixed in there somewhere, and so many orgs that.. well they say too many chef's spoil the broth, boxing's broth is an inedible goo.

I think many of Haymon's supporters probably back him because of the wild west unregulated status of boxing and would prefer to see boxing emerge with some kind of UFC, NFL or FIFA structure. If that happens it could get better (I think the NFL is run great) or worse (FIFA is possible most corrupt sports organisation on earth), and i think it needs to be a gradual transition firstly by amalgamating the WBA WBO IBF & WBC into 1. Ridding the sport of promoters would create a big stink, that could maybe be done over time. Not how Haymon is doing it right now, which i'm pretty sure is illegal.

Haymon is clearly trying to hurt other promoters. Blocking and not using venues is one example. Scheduling crappy Shumenov fight in Vegas on the same day when Kovalev fights is another one.