International Boxing Club

From BoxRec
Jump to navigation Jump to search

The International Boxing Club was formed by Jim Norris, Arthur Wirtz, and Joe Louis in 1949, with Norris taking 80% of the stock. Norris also served as the IBC's President. This New York club is to be distinguished from the International Sporting Club (NYC) of many years earlier.

The IBC was set up in direct opposition to Mike Jacobs' Twentieth Century Sporting Club. [1]

Norris was a very unsavory individual and was widely known to associate with criminals. As president of the International Boxing Club, Norris had a monopoly on championship fights due to a lucrative contract the IBC had to broadcast fights on national television.

Norris was responsible for fixing numerous bouts. Besides match fixing, he was also unofficially managing many boxers (usually against their will) and persuading them to hire his associates as advisers.[2]

Norris also held an interest in promotions at Madison Square Garden. Source Wirtz and Norris also at the time controlled half the National Hockey League (Wirtz owned Chicago while Norris owned Detroit: Madison Square Garden, who owned the New York Rangers, was jointly held by both) and also had interests in horse racing.

In 1957, the IBC was ruled to be a monopoly. The case was appealed to the U.S. Supreme Court, which ruled against the IBC and ordered it to be dissolved. [3] [4] MSG was eventually sold to the Graham-Paige Corporation, formerly an automaker who had become a diversified holding company, as a way to satisfy anti-trust requirements.