Essential The Official Boxing Random Thoughts Thread...All boxing heads ENTER.
- Thread starter Jesus Is Lord
- Start date
krackdagawd
Inspire.
http://espn.go.com/boxing/story/_/id/11703900/major-shareholders-cut-ties-golden-boy-promotions
Shareholders cut ties to Golden Boy
Golden Boy Promotions president and co-founder Oscar De La Hoya has bought out the two largest shareholders in the company besides him, at their request.
In a deal recently completed, De La Hoya bought back Anschutz Entertainment Group's approximate 20 percent stake in the Los Angeles-based company and the approximate 12 percent of the company held by Gabriel Brener, a private investor and chairman and CEO of Brener International Group. Terms of the deal were not disclosed.
According to a source with knowledge of the deal, AEG and Brener initiated the sale because they had seen no return on their investment as Golden Boy has never made a distribution to its shareholders. AEG, for example, invested millions beginning in 2008 and had little to show for the investment until it (and Brenner) turned a profit on the sale of their shares.
"We have enjoyed a long and mutually beneficial partnership with Golden Boy Promotions. Earlier this quarter, Golden Boy Promotions re-purchased AEG's equity interest in the company that was originally acquired in May of 2008," Dan Beckerman, president and CEO of AEG, told ESPN.com. "We wish Oscar De La Hoya all the best and we look forward to continuing to host Golden Boy Promotions events in our venues in the years to come."
Golden Boy has put on boxing cards regularly at AEG venues, including the Staples Center in Los Angeles and the StubHub Center, which is a few miles away in Carson, California. AEG even built a statue of De La Hoya in front of the Staples Center.
AEG's involvement in Golden Boy was largely due to the close relationship between Beckerman, a boxing fan, and former Golden Boy chief executive Richard Schaefer, who resigned on June 2 after a falling out with De La Hoya. They are embroiled in a $50 million arbitration case De La Hoya brought against Schaefer, accusing him of, among other things, breach of fiduciary duty to the company.
While De La Hoya initially denied the transaction to ESPN.com, Golden Boy spokesman Stefan Friedman confirmed the deal to ESPN.com on Tuesday night.
"With Oscar back at the helm we no longer have to contend with petty, ego-driven feuds that have costs fans the best fights for years, fans who couldn't care less about the financial composition of the company," Friedman said. "Simply put Golden Boy Promotions is firmly established as the No. 1 promoter in all of boxing and is stronger than ever."
De La Hoya now controls approximately 87 percent of the company's stock. Schaefer is the second largest shareholder (approximately 8 percent) - at least for now -- with unified light heavyweight titleholder Bernard Hopkins holding the remaining approximate 5 percent.
AEG is one of the leading entertainment and sports companies in the world with ownership stakes in more than 100 arenas and stadiums around the globe, including the Staples Center in Los Angeles and The O2 Arena in London. Its other holdings include the NHL's Los Angeles Kings and two teams in Major League Soccer, the Houston Dynamo and LA Galaxy.
A few months before AEG bought its stake in Golden Boy in 2008, De La Hoya and Brener each bought 25 percent interest in the Dynamo. Although AEG divested from Golden Boy, De La Hoya continues to hold his shares in the Dynamo.
Brener International Group is a Los Angeles-based private investment firm that focuses much of its investment strategy on U.S. Hispanic businesses.
Cacs zero.........Blacks one
ChocolateGiddyUp
Superstar
http://espn.go.com/boxing/story/_/id/11703900/major-shareholders-cut-ties-golden-boy-promotions
Shareholders cut ties to Golden Boy
Golden Boy Promotions president and co-founder Oscar De La Hoya has bought out the two largest shareholders in the company besides him, at their request.
In a deal recently completed, De La Hoya bought back Anschutz Entertainment Group's approximate 20 percent stake in the Los Angeles-based company and the approximate 12 percent of the company held by Gabriel Brener, a private investor and chairman and CEO of Brener International Group. Terms of the deal were not disclosed.
According to a source with knowledge of the deal, AEG and Brener initiated the sale because they had seen no return on their investment as Golden Boy has never made a distribution to its shareholders. AEG, for example, invested millions beginning in 2008 and had little to show for the investment until it (and Brenner) turned a profit on the sale of their shares.
"We have enjoyed a long and mutually beneficial partnership with Golden Boy Promotions. Earlier this quarter, Golden Boy Promotions re-purchased AEG's equity interest in the company that was originally acquired in May of 2008," Dan Beckerman, president and CEO of AEG, told ESPN.com. "We wish Oscar De La Hoya all the best and we look forward to continuing to host Golden Boy Promotions events in our venues in the years to come."
Golden Boy has put on boxing cards regularly at AEG venues, including the Staples Center in Los Angeles and the StubHub Center, which is a few miles away in Carson, California. AEG even built a statue of De La Hoya in front of the Staples Center.
AEG's involvement in Golden Boy was largely due to the close relationship between Beckerman, a boxing fan, and former Golden Boy chief executive Richard Schaefer, who resigned on June 2 after a falling out with De La Hoya. They are embroiled in a $50 million arbitration case De La Hoya brought against Schaefer, accusing him of, among other things, breach of fiduciary duty to the company.
While De La Hoya initially denied the transaction to ESPN.com, Golden Boy spokesman Stefan Friedman confirmed the deal to ESPN.com on Tuesday night.
"With Oscar back at the helm we no longer have to contend with petty, ego-driven feuds that have costs fans the best fights for years, fans who couldn't care less about the financial composition of the company," Friedman said. "Simply put Golden Boy Promotions is firmly established as the No. 1 promoter in all of boxing and is stronger than ever."
De La Hoya now controls approximately 87 percent of the company's stock. Schaefer is the second largest shareholder (approximately 8 percent) - at least for now -- with unified light heavyweight titleholder Bernard Hopkins holding the remaining approximate 5 percent.
AEG is one of the leading entertainment and sports companies in the world with ownership stakes in more than 100 arenas and stadiums around the globe, including the Staples Center in Los Angeles and The O2 Arena in London. Its other holdings include the NHL's Los Angeles Kings and two teams in Major League Soccer, the Houston Dynamo and LA Galaxy.
A few months before AEG bought its stake in Golden Boy in 2008, De La Hoya and Brener each bought 25 percent interest in the Dynamo. Although AEG divested from Golden Boy, De La Hoya continues to hold his shares in the Dynamo.
Brener International Group is a Los Angeles-based private investment firm that focuses much of its investment strategy on U.S. Hispanic businesses.
Cacs zero.........Blacks one
Schaeffer's homeboys was like fukk all that we ain't leaving our money in the hands of a cross dressing drug addict
Arum & HBO goin take advantage of DLH til that Canelo $$$$ money train stops then to the bushes he goes
Oscar is so dumb that he allowed Arum to take back what he gets from Manny fights........For nothing basically
Schaeffer's homeboys was like fukk all that we ain't leaving our money in the hands of a cross dressing drug addict
Arum & HBO goin take advantage of DLH til that Canelo $$$$ money train stops then to the bushes he goes
Lose 12% of your company in one day when you only have like one fighter(Canelo) brehs....
SN: it's Coke Boy who have to pay these share holders back.........................
firemanBk
The Manslayer
I think he could beat any of those guys but I think higher of Mikey than mostGarcia is simply cashing out by going to 140. it's no secret he wants to retire and doesn't want to box anymore.
just off the head, i don't even know who i would favor him over at 140 at this point.
lucas, no!
broner, no!
manny, no!
danny, no!
ruslan, no!
alverado, maybe
dulorme, no!
peterson, no!
herrera, no!
postol, no!
lundy, no!
jessie vargas, no!
aydin, maybe
judah???
vivian harris, yes!
crawford, no!
soto, yes!
I'd hope so. Absolutely nothing was accomplished this year. Nyggas in the exact same spot.
"Life is like a treadmill, nikkas runnin in place
Gettin nowhere fast, a whole year done past" - Jay-z
Garcia skipping over 135....... Crawford problems?
Craw fast trackin his way to 140.Jump a divison to fight for record $$ and have it be called duckin brehs
Willy Waffle
Willy Da Waffleman
mikey is a natural featherweight, 135 pounder the most. you really think he carry himself at 140 with that weight and compete those guys.
Mikey heavily underrated on here. He'd still need to grow a considerable amount to jump to 140.
But that perfect form Mikey 1-2 w/140 power
WhodatWhoadi
Naw
Garcia is simply cashing out by going to 140. it's no secret he wants to retire and doesn't want to box anymore.
just off the head, i don't even know who i would favor him over at 140 at this point.
lucas, no!
broner, no!
manny, no!
danny, no!
ruslan, no!
alverado, maybe
dulorme, no!
peterson, no!
herrera, no!
postol, no!
lundy, no!
jessie vargas, no!
aydin, maybe
judah???
vivian harris, yes!
crawford, no!
soto, yes!
man you underrating Mikey big time acting like ol boy cant box....lundy
Vargas
Aydin
soto
harris
herrera
alverado
judah
dulorme
ruslan all get wrecked/outboxed
postol,lucas,peterson,danny,broner Toss ups
Only ones I see clearly beating dude are Manny and Crawford
WhodatWhoadi
Naw
nikkas a beast brehs
When was the last time we seen a 6'4" 200+ lb'er move that fluidly
@ 7:00
damn breh,you know if hes going turn pro? I didnt know much about dude but watching these videos...dudes got some good boxing ability unlike alot of todays heavyweights...
footwork/movement are top notch for being a big dude....long reach...no doubt he can get a belt.
ChocolateGiddyUp
Superstar
Didn't Mikey get dropped by Rocky Martinez?? Huge difference in power from 130-140
Theres way too many unknowns to say Mikey would do anything at 140...can his chin hold up?? Will his power move up two divisions N he effective N let's not act like this nikkas resume is anything but average
The way his fam acts when theres any danger in a fight...first time Mikey gets dropped that towel will be floating into rhe ring
Theres way too many unknowns to say Mikey would do anything at 140...can his chin hold up?? Will his power move up two divisions N he effective N let's not act like this nikkas resume is anything but average
The way his fam acts when theres any danger in a fight...first time Mikey gets dropped that towel will be floating into rhe ring
Just because the idea of him jumping to 140 is no reason to shyt on MikeyDidn't Mikey get dropped by Rocky Martinez?? Huge difference in power from 130-140
Theres way too many unknowns to say Mikey would do anything at 140...can his chin hold up?? Will his power move up two divisions N he effective N let's not act like this nikkas resume is anything but average
The way his fam acts when theres any danger in a fight...first time Mikey gets dropped that towel will be floating into rhe ring
