Arum Says Chavez Jr. Is Under Contract with Top Rank Until April 2016


    prefight-chavez-1024While Julio Cesar Chavez Jr. may be under the advisement to super manager Al Haymon, his promoter of note Top Rank Promotions say they have a valid contract for Chavez until April 2016. In a report by  Yahoo Sports’ Kevin Iole, Bob Arum of Top Rank told Iole that he would be willing to work with Al Haymon for one fight but that Chavez bringing Haymon on board only means one thing, he no loner wants to be promoted by Top Rank.

    The Cold War in boxing has long stemmed from the bitter rivalry between Top Rank and Golden Boy but as of late it seems to be thawing. Arum and Haymon are bitter rivals and Haymon worked almost exclusively with Golden Boy for the past couple of years. So this move by Chavez can only add more fuel to the file.

    In the Yahoo Sports report, it states that Top Rank filed suit on August 11th in the US District Court in Las Vegas where Top Rank asked the judge to enforce the contract where it has the right to promote one more Chavez fight until April 6th, 2016.

    Iole details Top Ranks claim:

    Top Rank originally signed Chavez in October 2005. On April 26, 2010, the sides agreed to extend the deal until Oct. 6, 2012, according to the suit.

    That deal had a clause which granted Top Rank an extension if Chavez won a recognized world championship, which he was when he defeated Sebastian Zbik by unanimous decision on June 4, 2011, in Los Angeles to capture the WBC middleweight title.

    According to the suit, By its terms, the Promotional Rights Agreement grants Top Rank additional rights under certain circumstances. For example, pursuant to Section 6 of the Promotional Rights Agreement, if Chavez were to become recognized as a world champion in any weight class by certain boxing organizations, then Top Rank shall have the exclusive right and option to promote [Chavez’s] first five (5) title defenses or bouts.

    Furthermore, Section 6(c) states that the Term of the Promotional Rights Agreement, culminating on Oct. 6, 2012, shall be extended for such period of time as is required for presentation of the five (5) title defenses or bouts. However, the extension shall not exceed thirty (30) months beyond the term.

    Top Rank alleges that by defeating Zbik, the extension in Chavez’s contract was triggered until April 6, 2015. But then Top Rank says in the suit that Chavez agreed on March 19, 2012, to grant Top Rank an additional two (2) title defenses or bouts, on top of the title defenses or bouts already provided pursuant to Section 6(c) of the Promotional Rights Agreement.

    That agreement pushed the date to April 6, 2016, the suit argues. According to Top Rank’s suit, Chavez believes the deal expired in September.

    Arum has told many industry insiders that he felt Haymon was in Chavez’ ear when he tried to negotiate fights against Gennady Golovkin and Carl Froch and he is glad that Haymon has finally appeared. In a situation like this, money talks and Arum may be willing to work with Haymon or accept a buyout for a significant amount of money.

    Top Rank was very instrumental in developing Chavez Jr. to where he is today. It’s almost as if they created the best and can no longer contain him. Chavez Jr. has only fought once this year defeating Bryan Vera. A move like this could mean Chavez Jr. is shelved longer.

    While he had the highest rating on HBO this year when he faced Byran Vera, it was to a semi empty arena in Carson, California which could suggest some fans are growing tired of his antics.