Oscar De La Hoya’s Golden Boy Promotions Plans to File Lawsuit Against Haymon Boxing
By George A. Dampeer, RCM Washington DC Boxing Correspondent
Los Angeles, CA (April 28th, 2015)– It has been reported by Sports Illustrated’s Chris Mannix, that Oscar De la Hoya’s Golden Boy Promotions will file a lawsuit against Al Haymon, Haymon Boxing, and mutual fund manager Waddell and Reed for allegedly violating California’s Sherman Anti-Trust Act and Unfair competition law.
“Golden Boy” will be seeking monetary damages and a temporary lawsuit , then followed by a permanent injunction against Haymon’s business practices.
Golden Boy Promotions believes that Al Haymon is using his monopoly as a boxing manager to create another for promoting his PBC television fights, which have been significantly funded by Waddell and Reed.. This violates The Muhammad Ali Act which prohibits boxing managers to act as boxing promoters.
The file stemmed from the PBC bout with Johnny Gonzalez against Gary Russell Jr., where Johnny was sued just a day before the fight for violation of an agreement he had with Golden Boy. According to the claim, Golden Boy entered into a written agreement with Gonzalez where they would obtain exclusive rights to promote Gonzalez’s boxing matches for 2 years or 4 fights. Gonzalez could not take part in any professional match prior to the first bout conducted pursuant to the agreement.
It is not known for sure weather or Al Haymon’s role as a manager/promoter/advisor or not but this is not the first time the question has been raised. Main Events filed suit against Haymon in 2014 only to be settled out of court. Weather or not the suit will hinder PBC or Haymon Boxing is yet to be seen, but if it does there could be a shake up for match making from here on.
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