Two months after they closely worked together to stage the most lucrative bout in the sport's history, Manny Pacquiao promoter Bob Arum is now trying to inflict a legal blow to Floyd Mayweather manager Al Haymon.
Arum’s Top Rank Inc., filed a 50-page anti-trust lawsuit against Haymon and financial backers Waddell & Reed, seeking more than $100 million in damages and is asking the U.S. District Court of Los Angeles for an injunction to halt Haymon from "rigging the boxing industry."
The suit focuses on Haymon's alleged attempts to consolidate the entire sport under his banner and violations of acting as a promoter for boxers. He reportedly manages close to 200 fighters and has transformed the way fans consume boxing by striking TV deals with NBC, CBS and Spike TV for the time-buys.
"Al Haymon and Waddell & Reed are engaged in a sophisticated scheme to gain control of the boxing industry,” Daniel Petrocelli, lead attorney for Arum’s Top Rank, said in a statement. “As the lawsuit explains in detail, they are violating federal law, defying state regulators and absorbing significant short-term losses to drive legitimate operators out of the business."
Haymon has a policy of not speaking with the media and a representative from his camp has yet to comment on the issue.
Arum is already the third major promoter to file a complaint against Haymon in the past year. Golden Boy Promotions Oscar De La Hoya had already sued him and the connected asset management and financial planning company worth $300 million in similar antitrust claims.
"I applaud Bob Arum and Top Rank Boxing for stepping up on behalf of fighters not only in their own stable, but all across the sport,” De La Hoya reacted to the issue. “Those like Bob and myself who have spent the bulk of their lives around boxing understand that the Muhammad Ali Boxing Reform Act is a crucial piece of legislation that serves to protect boxers and enhance the sport. Golden Boy Promotions will continue to push forward with our own lawsuit to ensure our wonderful sport continues to grow in a competitive, just manner."
Petrocelli said that the suit aims to "ensure that Al Haymon and Waddell play by the same rules as everyone else."
0 comments:
Post a Comment