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Heavyweight Lawsuit: Oscar De La Hoya’s Golden Boy Promotions Preparing Court Battle With Boxing Giant, Al Haymon

April 29, 2015  |  Posted by: JammedUp Staff
Heavyweight Lawsuit: Oscar De La Hoya’s Golden Boy Promotions Preparing Court Battle With Boxing Giant, Al Haymon

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Oscar De La Hoya’s Golden Boy Promotions is gearing up to for a heavyweight lawsuit against the boxing’s biggest power broker, manager Al Haymon, owner of Haymon Boxing.

According to Sports Illustrated, Golden Boy Promotions will sue Haymon and his financial backer of NBC’s Premier Boxing Champions series, hedge fund manager Waddell and Reed. Haymon represents many of the big names in boxing such as Floyd Mayweather Jr., Light Welterweight champ Danny Garcia, Amir Khan, Heavyweight Champ Deontay Wilder, Adrien Broner and many more.

Haymon with Floyd Mayweather

Haymon with Floyd Mayweather

The lawsuit claims Haymon’s business practices violated California’s unfair competition laws and the Sherman Anti-Trust Act. De La Hoya is seeking financial damages against Haymon. Additionally, Golden Boy is seeking a temporary restraining order, followed by a permanent injunction against Haymon’s business practices, which Golden Boy Promotions claims violate state and federal antitrust laws.

Representatives for Golden Boy and Haymon refused comment regarding the pending lawsuit, and no timeline has been given for filing the suit.

Golden Boy is expected to argue that Haymon, who represents over 150 boxers, created the largest market share in the sport of boxing. The suit will argue that Haymon’s large stable of fighters far exceeds other managers therefore creating a boxing monopoly as a manager.

Under the Muhammad Ali Boxing Reform Act, referred to as the Ali Act, it prohibits boxing managers from acting as promoters.

In the past, promoters have accused Haymon of violating the law. According to legal experts briefed on Golden Boy’s lawsuit, they believe the case has gained strength after Haymon Boxing executive Ryan Caldwell recently explained the business model for Premier Boxing Champions series in an interview.

According to sources, In a letter currently being drafted by the Association of Boxing Commissions to the Justice Department, will request the U.S. Attorney General investigate the possible violations of the Ali Act by Haymon.

Under the California Unfair Competition laws, it prohibits corporations from using misleading business practices. Golden Boy will again offer violations of the Ali Act. Also legal sources who are familiar with the lawsuit, say Golden Boy will cite 396 of California’s Code of Regulations. The law precludes “any stockholder, member, director, officer, matchmaker or assistant matchmaker from acting directly or indirectly as boxing manager.

Former Golden Boy CEO Richard Schafer with Al Haymon

Former Golden Boy CEO Richard Schafer with Al Haymon

If Golden Boy succeeds, it both could prevent Haymon’s capability to conduct PBC business under the current business model. Haymon is expected to count on several arguments for his company’s defenses, which means an out of court settlement may ultimately be reached by both parties.

The latest lawsuit follows a number of recent litigations lead by Oscar De La Hoya. Last year Golden Boy sued former CEO Richard Schafer for $50 million. Golden Boy accused Schafer violating his agreement with the company by helping Haymon Boxing. The lawsuit was settled of court in January.

Although Golden Boy has lost the promotional rights to many of its top boxers who joined Haymon’s massive stable of fighters. Sources told Sports Illustrated that De La Hoya litigations against Haymon is primarily due to his resistance to match top level fighters.

Aside from De La Hoya, Kathy Duva, Bob Arum, Don King and the HBO Boxing staff have in the past accused Haymon of protecting his boxers from fighting top level boxers.

Johnny Gonzalez was sued by Golden Boy for violating his contract

Johnny Gonzalez was sued by Golden Boy for violating his contract

Golden Boy recently sued featherweight champion, Johnny Gonzalez, and his Mexican promoter on allegations they conspired with Al Haymon to violate the champions contract with Golden Boy Promotions.

De La Hoya filed the lawsuit on the eve of his title defense against Gary Russell Jr.

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