Golden Boy sues Al Haymon for 300 MILLION

[Ron Swanson]

GBP needs a lawyer as a partner rather than hiring because they are about to waste a lot of money misunderstanding the Ali Act.

That makes no sense what so ever. The act is clear in SEC. 5. CONFLICT OF INTEREST.

Section 17 of the Professional Boxing Safety Act of 1996 (15 U.S.C. 630 (as redesignated by section 4 of this Act) is amended--

(1) in the first sentence by striking ‘No member’ and inserting ‘(a) REGULATORY PERSONNEL- No member’; and

(2) by adding at the end the following:

‘(b) FIREWALL BETWEEN PROMOTERS AND MANAGERS-

‘(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.

‘(2) EXCEPTIONS- Paragraph (1)--

‘(A) does not prohibit a boxer from acting as his own promoter or manager; and

‘(B) only applies to boxers participating in a boxing match of 10 rounds or more.

Where GBPs is messing up is, well it's all over the place. First, incentive. GBPs had no problem with Haymon as long as he was working exclusively with GBPs. That is a conflict of interests. Now they have sold fighters to Haymon and want to sue him for their benefit? It's nonsense, they are getting a higher percentage. So GBPs wants to sue to get them a worse deal, for their benefit? It's laughable.

Now on to the meat and potatoes. The thing they are suing over is false. Haymon is not the Manager and Promoter. PBC is not a promoter like The WBO is not a promoter. And Haymon is hiring different promoters on one off contracts for different events. They really have absolutely nothing on him. Nothing!

Where the WBO wants to get involved has nothing to do with getting Haymon for what he is doing. It's about redefining the parameters about what he is allowed to do. It's to undermine the PBC which benefits fighters but hurts the sanctioning bodies. So the WBO is only self interested, just like GBPs. And it is so transparent that it undermines GBPs already flimsy case.

This lawsuit basically says "we all want our cuts, we want the fighters to get less. But we want them to get less for their good" GTFOOH with that trash.

If you can't see through this nonsense I pity you and offer 2 questions. 1)do you really think Haymon got hundreds of millions of dollars from people when he was breaking the most famous rule in boxing, or would one of these very wealthy men have broached this obvious question? And 2)why is GBPs doing this now?

Answer those questions and you will see their motives and how badly they will be crushed in court.