Luis Ortiz splits with Golden Boy, becomes a free agent
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Dan RafaelESPN Senior Writer
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- 2013 BWAA Nat Fleischer Award winner for excellence in boxing journalism
- ESPN.com boxing writer since 2005
- Five years at USA Today
Golden Boy Promotions received the final installment of its seven-figure contract buyout from heavyweight Luis "King Kong" Ortiz on Tuesday, making Ortiz a promotional free agent and bringing to an end the quick demise of what had been a fruitful relationship.
"Golden Boy Promotions and Luis Ortiz amicably parted ways," Golden Boy Promotions spokesman Stefan Friedman said in a statement. "We are proud of the work that Golden Boy and Luis accomplished together culminating in his WBA heavyweight interim championship victory and subsequent title defenses. We wish Luis and his team all the best in the future."
The statement for public consumption described an amicable separation,
but that is not the case when the story is told privately.
Ortiz and Golden Boy had ironed out a deal for Ortiz to defend his interim title against mandatory challenger Alexander Ustinov on Sept. 17 in the co-feature on the Canelo Alvarez-Liam Smith HBO PPV card at AT&T Stadium in Arlington, Texas.
However, after making a deal, Ortiz's camp tried to renegotiate for more money, according to two sources with knowledge of the situation.
Golden Boy declined to pay more than it had already agreed to and said Ortiz could sit or buy out his contract if his camp met the company's asking price. Ultimately, Ortiz's team came up with the low seven-figure payment -- in multiple installments -- and bought out the agreement.
According to those close to Golden Boy CEO Oscar De La Hoya, he was disgusted by the turn of events but took the attitude that life was too short to work with people who did not honor their agreement.
It became clear that Ortiz (25-0, 22 KOs) and Golden Boy were close to going their separate ways last week when the fight with the 39-year-old Ustinov (33-1, 24 KOs) was put up for auction at a purse bid and Golden Boy did not make an offer. Instead, there was only one bidder, Vlad Hrunov on behalf of Russian promoter Andrey Ryabinsky's World of Boxing. With nobody else in the room to force a bidding war, he bid the minimum of $600,000.
Ortiz is entitled to 60 percent, meaning he will earn $360,000, and Ustinov is entitled to 40 percent, meaning his purse will be $240,000.
With the fight tentatively slated for Nov. 19 in Moscow, Las Vegas or Minsk, the capital of Ustinov's native Belarus, Golden Boy said Ortiz would likely earn less than he was offered for the appearance on Sept. 17 because of the tax burden he would face fighting overseas -- not to mention he likely won't be granted the perks reserved for fighters on their own promoter's event.
Golden Boy did a superb job handling Ortiz, a 37-year-old southpaw who defected from Cuba and lives in Miami, during their time together. After he knocked out Lateef Kayode in the first round in 2014 to win a vacant interim title, Ortiz tested positive for a banned substance. He was stripped of the title, suspended and fined and the result was changed to a no decision. But despite so many being down on Ortiz, Golden Boy stuck by him and when he returned got him one tuneup fight and then another shot at the interim belt.
He knocked out overmatched Matias Ariel Vidondo in the third round on the HBO PPV undercard of Gennady Golovkin-David Lemieux to claim the interim title and has made two defenses. Golden Boy got both fights on HBO as main events, a sensational seventh-round knockout of contender Bryant Jennings in December followed by a sixth-round destruction of Tony Thompson on March 5, leading many to view Ortiz as the best heavyweight in the world. No one from Ortiz's team could be reached for comment.
Golden Boy parts ways with heavyweight Ortiz
He's a cheater anyways
