BoxRec

This time by some of his investors:

http://www.bloodyelbow.com/2016/5/2/115 ... oxing-news

I fear the PBC is not long for this world.

Actually, to be slightly more accurate, the hedge fund that is the PBC's primary financial backer is being sued by its investors.

Haymon is a shyster. A con man, and he's spued a lot of other people's money on this PBC garbage. He deserves to live in a jail cell.

This lawsuit seems to have legs. The Haymon blueprint could essentially be a giant ponzi-like scheme, with shareholders being the victims. Haymon has done a good job of keeping himself an arms length away and I doubt that this will all fall back on him personally, but Wadell and Reed may very well be in trouble, and in turn PBC.

I don't really understand the PBC's business model. They've run through $500m so far, presumably in the hope that they'll eventually turn some corner and start making money. But how is that supposed to happen, and when? The ratings for their primetime network TV broadcasts have been stagnant at best. I can't see them lasting much longer at this rate.

jujigatame wrote:I don't really understand the PBC's business model. They've run through $500m so far, presumably in the hope that they'll eventually turn some corner and start making money. But how is that supposed to happen, and when? The ratings for their primetime network TV broadcasts have been stagnant at best. I can't see them lasting much longer at this rate.

PBC wont last and those TV time buys will end soon. But Haymon can still turn a profit with the amount of fighters he has, unless those lawsuits caught up with him. Just put them on Showtime an do the busyness as usual. The hedge fund though wont see a dime of that "investment". I said long time ago that Haymon conned them out of that 400 million. Now it seems that it is actually 900 mil.

Seems like it was an inside job more than a con. The hedge fund manager who pushed for these investments went on to be Haymon's COO.

jujigatame wrote:Seems like it was an inside job more than a con. The hedge fund manager who pushed for these investments went on to be Haymon's COO.

Con often involve bribes.

Now that PBC is a failure Haymon can go back to puppetizing his SHowtime puppet Espinoza - so expect more handpicked WWE fake fights and lousy sparring sessions and all the rubbish we know Haymon produces in his minor league boxing federation -

I was happy to see boxing back on network tv. Too bad it's not likely too last.