The Business of Boxing

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When we last left off, just a few days back. We were discussing the most memorable or meaningful moments. That took place inside the ring, in the first half of 2014. I now aim at covering the first half of the year, from a business, legal, and historical point of view. Or lets call them the most memorable or meaningful moments that took place, in conference rooms, court houses, and beyond.

Well I am not going to beat around the bush. The most important event that took place in 2014 hands down is Richard Schaefer being relieved of his duties over at Golden Boy. I was happy to see him go. He is not lacking for anything. He is a very wealthy man. I don’t feel sorry for him. He was simply no good for the sport that I cherish dearly.

The way he ran Golden Boy was legally questionable. The amount of money that the company spent on promoting boxers without having them signed to a promotional contract, was potentially criminal and damaging to the company and brand. They basically promoted a ton of Haymon fighters for free, with no guarantee of promoting future fights in return. If you think about it HBO does a better job of protecting their promotional investments, in guys like Golovkin. Not that I am calling them promoters, but you catch my drift, truly appalling. So now Richard and Al Haymon are both being sued by Oscar De La Hoya (GBP) and Kathy Duva (Main Events) respectively, amongst others.

Al Haymon is an extremely bold man. Even under the threat of multiple law suits, being brought against him. Which raise a number of nasty accusations against him, including violating the Ali Act for acting as a promoter, tortuous interference with contracts, and forming a fraudulent alliance with Schaefer. Haymon continues to sign fighters left and right, as if nothing is wrong. We shall see if destiny really does favor the bold.

In terms of the so called cold war, well it seems to be thawing out a bit, but very, very slowly. The reality of the matter is that they have not willfully put on any fights together this year at all. The Russell vs. Lomachenko fight went to purse bid, so that does not count. I can see them getting together for Canelo vs. Cotto however, probably early next year. There is just too much money on the table not to make that one.

This year has also seen Showtime give up all that great momentum they built from last year. When you consider the great fights that were made and aired on Showtime  in 2013, well 2014 has been a complete let down for the most part. We have been fed a steady diet of showcase fights. Don’t get me wrong, they are entertaining when they go wrong. However Garcia vs. Salka is a thunderous slap to the face of the fans. I am not going to that one, no matter how many “Exclusive 48 Hour” discount offers you email me, sorry!

The last thing I will mention is the IBHF inductions of the greats, Oscar De La Hoya, Felix “Tito” Trinidad, and Joe Calzaghe. I think all three were special and will be respected more as time passes. It has been a meaningful year for boxing. Next we will discuss some of the up coming fights. Stay tuned for part III people.