Golden Boy Promotions Suspended By NY Commission

Shady, shady, shady. :shakehead:

I guess Kahn wanted his own briefcase full of money. ;)


EXCLUSIVE: Golden Boy Promotions Suspended By NY Commission


I'm glad the NY Commission is keeping an eye on this kind of crap.

Shame on Golden Boy.

Good for the NYSAC for standing up to the most powerful promotional group in the most corrupt sport in the world. Fighters, especially ones like Nate Campbell who are nearing the end of their financial viability, have enough problems without promoters robbing them of half a million dollars to further line their already bulging profits.

I've felt this way for a while, and have said so repeatedly, but GBP is just another in a long-line of corrupt boxing entities. The power they wield will be bordering on monopoly status sometime soon and they need to be dealt with.

golden boy promotions fooling/robbing their own fighters in campbell and ortiz, what a shame.

gbp is really not doing good for boxing. corrupt company.

Eh, two sides to every story so it's strange but give it a little time to play itself out. Golden Boy is claiming the situation to be completely different and that the commission acted hastily in suspending them, without holding a hearing or anything. So give it a little time.

I would most like to hear from the fighters themselves. Were they told they were each getting 200-250 K more and then gotten checks for much less. It seems hard to believe that that would actually happen, that a fighter would actually go into a fight not knowing how much he was going to get on his check and it being off by 200%. If Golden Boy tried to get away with that then yeah, fuck em. But is it totally believable? I don't know that would be pretty vicious.

Golden Boy seems to have gone corporate though so anything is possible. It's sad it had real potential and it's strong selling point was mainly about how 'for the fighter' it was but now it's just a powerhouse run by suits.

Still, here's the tail end of the NY Daily News article about it. It is Golden Boy's reaction I guess.

Quote:

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Itskowitch denied these charges, saying that no such deception was involved.

"Both fighters got disclosures," he said. "I don't think what those fighters got paid has anything to do with this."

According to Itskowitch, for the May 15 card featuring Paulie Malignaggi and Amir Khan, the state commission requested that Golden Boy submit promotional contracts for all fighters on the card. Instead, Golden Boy sent the contracts to the Association of Boxing Commissions (ABA), concerned that because New York is a public information state, Golden Boy's contracts might become public record.

The ABA is a highly respected record-keeping organization that binds all of the various boxing commissions in the U.S. Itskowitch said that based on his company's reading of the Muhammad Ali Boxing Reform Act, it was allowed to send the documents to the ABA.

"We didn't want our contracts on the public record," Itskowitch said. "We have confidentiality clauses in our contract. We want to comply with what we needed to comply with but at the same time, we wanted to protect our agreements."

Instead, Itskowitch received a letter from the New York commission on Friday saying that Golden Boy would be suspended effective immediately because the promotional contracts were never sent.

He said the commission never held a hearing to discuss a possible suspension and doesn't understand why the panel asked for the promotional agreements in the first place, even if it is its right to do so. He also said he had sent an e-mail to the commission last week requesting clarification, but had not gotten a response.

Melvina Lathan, chairwoman of the New York commission, did not return a phone call seeking comment.

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New York State Athletic Commission suspends Golden Boy Promotions for 90 days over Ortiz, Campbell

Dunno if it's true but Golden Boy aren't much loved in Quebec because they tried to Bully interbox in a last minute shamble for Bute-Andrade I.

For those who do not know the story, here it is in a nutshell: The contract stipulates that Bute chose the gloves. about an hour before the fight, a Guy from Golden Glove called in to say that now they were using Andrade's gloves (another pair of Reyes but those with the thinnest skin and maxed out power allowance) or the fight was off. after a few discussions, one of the Golden Boy's top guy (which name I forgot at this very moment) started to shout on the phone that the contract says Bute chose the gloves BUT... that it was written nowhere that Andrade had to use it and if that exigence wasn't filled the fight was off. In other words: "we'll private Andrade from the biggest purse of his career, perhaps but your show is off and you'll lose way much more money and for a small company like you it means tons of problems". The fight got almost kicked off but apparently it's Otis Grant who saved the day this time by convincing Andrade's camp to use the gloves mentioned in the contract as the difference between the 2 Reyes pair wasn't "too bad".