Al Haymon hit with $100 million lawsuit from TR to go along w/ $300 million lawsuit by GBP
- Thread starter Newzz
- Start date
Why is he being sued for violating antitrust statutes?
@The HONORABLE SKJ :scustmad:
iceberg_is_on_fire
Wearing Lions gear when it wasn't cool
Al the gawd might have to come out of the shadows for this one.
malbaker86
Gators
It was bound to happen. Al will I'm sure settle out of court before it makes it to trial.
Top Rank is suing him for the exact same reason Golden Boy is....antitrust violations and Muhammad Ali act. Here's an article on GB's suit, which you basically interchange Golden Boy with Top Rank, Oscar De La Hoya with Bob Arum, & Bernard Hopkins with Todd DuBoef . It's the same thing:
Golden Boy sues Al Haymon, alleging violation of antitrust laws and the Ali Act
RingTV.com
May 6, 2015
Golden Boy Promotions has filed a $300 million lawsuit against Al Haymon and an investment company, alleging violations of antitrust laws and the Muhammad Ali Boxing Reform Act.
Haymon operates Premier Boxing Champions, a company with a large stable of fighters and deals to showcase them on a variety of free and cable networks.
Golden Boy said in a press release that it has sued Haymon, “his related companies and Waddell & Reed Financial, Inc. and its related hedge funds.”
The release states that the federal suit, filed in Los Angeles, “alleges Haymon conspired with Waddell & Reed to violate federal and state laws aimed at protecting fighters in order to monopolize boxing.”
Golden Boy goes on to state: “Since the moment Al Haymon launched Premier Boxing Champions, he has repeatedly and brazenly broken the letter and spirit of the Muhammad Ali Boxing Reform Act that is meant to protect fighters from exploitation. As part of an anti-competitive conspiracy that includes financial backers from Waddell & Reed, Haymon has ‘entered into agreements to restrain trade in a substantial portion of the market for promotion of Championship-Caliber Boxers,’ the bombshell new lawsuit claims.”
Oscar De La Hoya, founder and president of Golden Boy, said: “During my 25 years in boxing, I have watched far too many fighters be chewed up, spit out and left with nothing to sit idly by while Mr. Haymon flaunts a federal law meant to protect those who put everything on the line to entertain fans of our sport. The Muhammad Ali Act was passed to help fighters avoid the fate that bedeviled so many of our predecessors; and I will do everything in my power to ensure this crucial piece of legislation is upheld and followed.”
A spokesman for PBC responded to an email from THE RING, saying, “Our policy is not to comment on legal matters.”
The Golden Boy statement continues: “The lawsuit alleges numerous violations of the Ali Act and antitrust statutes by Haymon, among the most glaring of which is that he routinely serves as both manager of his fighters and promoter of their fights, even though such a dual role is explicitly prohibited by the Ali Act in order to ‘protect boxers, the boxing industry, and the public from abusive, exploitive, and anticompetitive behavior.’
“According to the lawsuit: ‘By ignoring the ‘firewall’ established by the Ali Act, the Haymon Defendants are essentially sitting on both sides of the bargaining table. While purporting to act in their clients’ best interests, the Haymon Defendants have obtained direct and indirect financial interests in promoting their boxers – thereby creating the very conflict of interest the Ali Act sought to remedy.’
“Haymon calls himself a ‘manager’ or an ‘advisor,’ yet Haymon and his myriad of companies are well known to arrange and contract for the bouts, the arenas, the sponsors and the television time – all duties of a boxing promoter. Even Haymon-managed fighters themselves repeatedly refer to Haymon as their ‘promoter,’ though he is well-known to manage more than 100 fighters.
“Haymon is not only pushing out other legitimate promoters in favor of ineffective puppets that he controls, but locking out top fighters who dare to not join his stable of boxers.”
Bernard Hopkins, co-owner of Golden Boy, said: “At the age of 50 and after spending most of my adult life in boxing, I thought I’d seen every trick in the book aimed at undermining those who actually step into the ring. Having personally been refused a lucrative fight with a Haymon-managed fighter, I have felt first-hand the impact of Haymon’s attempt to form a monopoly. These practices are detrimental to boxers, fans and the sport as a whole.”
The lawsuit alleges that Waddell & Reed and related companies “aided and abetted Haymon in his commission of the claimed violations of law.”
In the statement, Golden Boy pointed out that its suit “comes days after the Association of Boxing Commissions called on newly confirmed U.S. Attorney General Loretta Lynch to investigate Haymon for many of the same infractions spelled out in today’s lawsuit.”
http://ringtv.craveonline.com/news/...g-violation-of-antitrust-laws-and-the-ali-act
He's gonna lose as soon as they get one of his contracts. They literally couldn't do a fight if Al said no and his fighter wasn't allowed to bypass him. He's done. 
A sheisty Jew cut from the old cloth of old school sheisty Jewery and a recovering Coke head cross dressing sucker who was too high to run his own company are suing a Brother doing good. 
No problem breh
I like to present all the info, so brehs are given the full scoop in order to come to their own conclusions
Here's a copy of an Al Haymon legit contract as well, which Kathy Duva and Main Events provided in her lawsuit against Al Haymon. The contract starts on page 33, and you can see, it's definitely more than just a Boxer/Manager type of deal: http://www.doghouseboxing.com/Media-Img-2/Complaint.pdf
He's gonna lose as soon as they get one of his contracts. They literally couldn't do a fight if Al said no and his fighter wasn't allowed to bypass him. He's done.
I just posted it
Yeah, the contract is definitely a "weird" one from the perspective of an "advisor" or "manager" dealing with a Boxer
I wonder how Al is gonna get out of this
A sheisty Jew cut from the old cloth of old school sheisty Jewery and a recovering Coke head cross dressing sucker who was too high to run his own company are suing a Brother doing good.
Kathy Duva and Main Events sued him last year under the same antitrust and Muhammad Ali act. She ended up dropping it though, since her money aint long like TR's and GB's
Hmmmm al's homie ricie Schaefer will pull some strings and settle the situation.
He better hope so.
Jay-Z and Beyone ran Haymon out the Music Industry....now Bob Arum and Oscar De La Hoya trying to run him out the Boxing industry
I dont wanna lose PBC brehs
