Top Rank v. Haymon Update
By Przemek Garczarczyk
In a 24-page ruling, United States District Judge John F. Walter has rendered a decision on Top Rank’s lawsuit against boxing powerbroker Al Haymon and his financial backers Waddell & Reed. Judge Walter granted Haymon’s Motion To Dismiss, but will allow Top Rank to refile an amended complaint with greater detail on or before October 30. The judge also granted Waddell & Reed’s Motion To Dismiss “without leave to amend,” so they appear to be off the hook.
Top Rank’s lawsuit alleged Haymon has engaged in at least four types of anticompetitive and tortious behavior: (1) inducing professional boxers to enter unlawful “tie out” agreements, which prevent the boxers from “freely” or “independently” contracting with legitimate promoters, (2) illegally acting as a promoter and fraudulently operating in the promotion business through a network of “sham promoters,” (3) blocking legitimate promoters’ access to major venues through fraud, overbooking, and other unlawful means, and (4) utilizing predatory “payola” practices, i.e.. preventing legitimate promoters from access to television broadcasters through exclusive dealing, overbooking. and other unlawful means.