in the spring of 2000 while training for an upcoming bout Floyd Mayweather befriended music mogul James Prince who was looking to take his boxing promotional company to another level.....Mayweather in exchange was looking to diversify his boxing income into the music industry ..so they developed a mutual business and personal relationship , much to the disapproval of Floyd Mayweather Sr. who was immediately fired by the younger Mayweather and replaced by J. Prince and his management team..
Fast forward 2003.....the junior Mayweather displeased with his shares of proceeds of fight revenue decides to breach his contract and joins Top Rank boxing firm led by boxing agent Bob Arum...
"Mayweather also found himself in some trouble when he was in a fierce contractual battle with former manager James Prince. Top Rank stepped in and advanced him $610,000 to settle with Prince, and also cut Prince a check for 20 percent of Mayweather's $3.05 million dollar purse for fighting Phillip Ndou.
The situation with Prince, a well known figure in the rap world, escalated to a dangerous level when several men showed up to the Top Rank Gym on September 11, 2003 and roughed up Leonard Ellerbe and former camp member Thomas Summers, sending both to the hospital.
Mayweather's camp has never confirmed the story, but both DuBoef and Arum claimed to have saved a "shaken" Floyd Mayweather, Jr., who told DuBoef 'These are bad guys, you have to help me save
my family.'
"I said, 'Let me give James a letter of credit,' " Arum said. "And Floyd said -- I'll never forget it -- 'James don't take no letter of credit.' "
But the "love affair" with Bob Arum and top ranked would be short lived.....by 2006 ...mayweather still seeking to make a mark in the music game also filed lawsuit against his former promoter,
Bob Arum of Top Rank, in
Clark County (
Nev.) District Court in march of 2008
Mayweather claims that Arum shortchanged him on matches against
Arturo Gatti in 2005 and
Zab Judah in 2006. In the lawsuit, Mayweather said he was due 85% of Top Rank's revenue from the Gatti fight and 80% from the Judah fight. He claims Arum has refused to turn over the records for accounting
During this time , while fighting Arum in court, Mayweather had new issues arise with former manager J . Prince whom now would become his rival in the boxing promotional field, once Mayweather paid Bob Arum 750,000 to buy out his contract with Top Rank and become an independent fighter with his own promotional company.
To validate his firm , Mayweather hired veteran concert promter Al Haymon while at the same time developing a relationship with Curtis "50 CENT" Jackson whom many speculated was brought in to help defend Mayweather and his goons.
Read more:
http://www.nydailynews.com/sports/m...er-jr-bob-arum-article-1.286596#ixzz2d0OnNjC5