Comments Thread For: Margules Reacts To Top Rank/Golden Boy Claims on PBC

[wlliam]

But Haymon is a de facto promoter doe

[baddog]

OH REALLY ??????
Margules promoted and matched the event, with who's money, he paid ESPN the production costs, LAUGHABLE.................

[Eff Pandas]

LOL this guy claiming he's not a sham promoter. So explain how his company used Haymon's money to bid $3mil on Dirrell Degale, then didn't even promote the fight, Dibella did. Stop.

I'm assuming Haymon tells the promoters he works with how much he'll pay them for a fight & the promoters can bid accordingly. So he might be making a $3M bid, but Haymon pays him $3.5M to promote it under the PBC banner or something along those lines so he's making $500k profit just from winning the bid.

Who knows what went on with the DiBella thing, but I can see a lot of situations that are just friendly type situations under this whole PBC arrangement than the promoter battles we are accustomed to under the HBO vs Showtime, TR vs GBP formerly & current TR & GBP vs PBC universe so I don't believe its a big deal or likely to be a problem.

[bigdunny1]

The manager's job is to look out for the interests of the boxer. The promoter's job is to look out for the interests of the promoter. Thats why haymon will win cause the spirit of the law is to help the boxer not to protect the promoter

Tell that to the judge. That's a terrible argument. The law is clear you can't act as promoter and manager because there is a conflict of interest that has potential risk to hurt fighters. What you are saying is right now you think there is no harm on the fighters so lets ignore the fact that what Haymon is doing is illegal (acting as manager and promoter). And even if you prove he hasn't harmed the fighters right now with this arrangement there is no way to prove that going forward this might change and he could end up abusing or harming fighters. That's like driving drunk getting pulled over and telling the cops well I know the law is no drinking and driving but I am a excellent drunk driver I have never harmed myself or others on the road and that is the spirit of the law so I promise there is no risk I will hurt anyone else so let me keep going until I prove to you by crashing my car that I am a threat to myself and others. Sorry what you are doing is still illegal whether you smash your car or not you go to jail.

[bigdunny1]

The Chavez jr check showed that Haymon sports wrote a check to Chavez jr promotions. So Haymon wrote a check to a promotional company, there is no problem there.

And why would he have to write a check to settle? He doesn't owe TR or GB anything, he has no responsibility to them.

Not according to Top Rank lawyers. I have never seen or heard a manager paying a fighter or a fighters promotional company for a purse.



in its lawsuit, Top Rank alleged that Haymon is violating the Muhammad Ali Boxing Reform Act by serving as both a manager and a promoter. To support that allegation, it posted a photo that boxer Julio Cesar Chavez Jr. posted, and later deleted, to the social media website Instagram.

It was a photo of a handwritten check from Haymon Sports LLC to Chavez's company for $1.75 million. The memo line of the check reads "Purse 4/18/15." Chavez fought Andrzej Fonfara at the StubHub Center in Carson, Calif., on that night.

"The transaction could hardly be more explicit – Haymon paid nearly $2 million of Chavez Jr.'s 'purse' for the bout against Fonfara," attorney Daniel Petrocelli wrote in Top Rank's lawsuit. "Paying the purse is a classic promoter's responsibility, not the job of a true manager. Tellingly, Chavez Jr.'s Instagram post was removed minutes after it appeared on the Internet site."

[OnePunch]

Thats what the business has become, but I don't see why its a requirement. The promoters job is ultimately to promote a show, not have fighters under contract to his promotion. I think that strategy has its pros & cons. Sign fighters = more risk, but more reward, unsigned fighters = less risk, but less reward. Thats why most of the reputable, but mostly lower level guys PBC is dealing with are a perfect fit.

One of the biggest reasons I'm a PBC fan is cuz its getting some of the power out of the hands of promoters. Its a shame boxers are desperate enough to have to sign some of these deals that they don't realize are ****ty & restrictive of their own desires years later.

you've obviously never seen a Haymon contract.

No minimum number of guaranteed fights
No minimum purse guarantees
Not allowed to publicly say anything negative about Haymon, true or not

[MC Hammer]

Not according to Top Rank lawyers. I have never seen or heard a manager paying a fighter or a fighters promotional company for a purse.



in its lawsuit, Top Rank alleged that Haymon is violating the Muhammad Ali Boxing Reform Act by serving as both a manager and a promoter. To support that allegation, it posted a photo that boxer Julio Cesar Chavez Jr. posted, and later deleted, to the social media website Instagram.

It was a photo of a handwritten check from Haymon Sports LLC to Chavez's company for $1.75 million. The memo line of the check reads "Purse 4/18/15." Chavez fought Andrzej Fonfara at the StubHub Center in Carson, Calif., on that night.

"The transaction could hardly be more explicit – Haymon paid nearly $2 million of Chavez Jr.'s 'purse' for the bout against Fonfara," attorney Daniel Petrocelli wrote in Top Rank's lawsuit. "Paying the purse is a classic promoter's responsibility, not the job of a true manager. Tellingly, Chavez Jr.'s Instagram post was removed minutes after it appeared on the Internet site."

But Haymon isn't a manager, he's an Advisor, its a different position. So until someone defines what an Advisor is able and unable to do, then he has the right to sit in that grey area.

Again, I don't see how TR or GB even stand to make money off this, or think that they have been damaged because he has no responsibility to their companies.

[OnePunch]

But Haymon isn't a manager, he's an Advisor, its a different position. So until someone defines what an Advisor is able and unable to do, then he has the right to sit in that grey area.

Again, I don't see how TR or GB even stand to make money off this, or think that they have been damaged because he has no responsibility to their companies.

WRONG. He is licensed as a MANAGER in multiple states, and thus has to follow all applicable laws. He can call himself a snake charmer if he wants to, he is still legally a manager.

[Mitchell Kane]

But Haymon isn't a manager, he's an Advisor, its a different position. So until someone defines what an Advisor is able and unable to do, then he has the right to sit in that grey area.

I don't think Haymon gets to define the term, legally.

[bigdunny1]

But Haymon isn't a manager, he's an Advisor, its a different position. So until someone defines what an Advisor is able and unable to do, then he has the right to sit in that grey area.

Again, I don't see how TR or GB even stand to make money off this, or think that they have been damaged because he has no responsibility to their companies.

Again the promoter pays the fighters then fighters break off a percent to pay the manager. Managers do not pay the fighters and I could care less about his bogus title. We all know he is handling both duties and it's illegal. Multiple fighters slipped up and called him their promoter in interviews. When have you ever heard a fighter call their manager their promoter? And of course gb and top rank have a case because if his illegal actions is causing them damages with potential fighters, fights and venues. And TV deals that were obtained illegally that they have to compete with.