Attorneys for Al Haymon are seeking to stay the lawsuit filed by Golden Boy Boxing arguing that arbitration in the matter between Haymon and Golden Boy is pending. Thus, the issues brought up by Golden Boy in its lawsuit may be resolved by the end of July.
The motion seeks to put on hold the lawsuit filed by Golden Boy on May 5th citing Haymon violates portions of the Muhammad Ali Act, antitrust laws and state laws in California. Haymon’s attorneys state that by July 29, 2015, an Arbitrator will rule on whether all of the claims in the Golden Boy lawsuit have been released pursuant to a Settlement Agreement and Mutual Release (“Settlement Agreement”).
Taking a step back, Haymon and Golden Boy entered into the Settlement Agreement which would sever its business relationship. According to court documents, the Settlement Agreement was signed by the parties (including Richard Schaefer and Oscar De La Hoya) on December 18-19, 2014 and exercised by Haymon on January 8, 2015. According to Haymon, it was a “global” settlement of all issues between the parties. Haymon made “a substantial payment to Golden Boy” which Golden Boy accepted when the parties decided to end its business relationship. The Settlement includes an arbitration provision which would require that the parties be subject to an Arbitrator rather than litigate the matter in court.
According to the motion, a Sports Illustrated article leaked to the press on April 28, 2015 regarding a potential lawsuit to be filed by Golden Boy against Haymon sparked action by the PBC head’s legal team. Recognizing that the lawsuit might be filed soon, Haymon requested Arbitration under the Settlement Agreement on April 28th. Attorneys for Golden Boy filed counterclaims against Haymon. Golden Boy filed suit on May 5th.
The Settlement Agreement includes language preventing a financial audit of Haymon’s records.
Haymon attorneys state that the arbitration was filed before the May lawsuit and the Settlement Agreement includes an arbitration clause stating that the Arbitrator has exclusive jurisdiction to determine whether the claims have been released. It cites the Federal Arbitration Act as the reason the court should stay the lawsuit. The Arbitrator will receive legal briefs on the issue on July 10th and a hearing before the Arbitrator will be held on July 29th.
The actual Settlement Agreement is attached to Al Haymon’s Declaration but it is heavily redacted preventing the public from reading the salacious details of the settlement.
The hearing on the motion to stay will be on August 10th in US District Court in Los Angeles.
Dec of Al Haymon in Support of Motion to Stay
Payout Perspective:
While the court papers state that the Arbitrator will hear the arguments on July 29th, it’s not clear when a decision might be made. Although Haymon’s legal team will argue that the lawsuit is covered in the Arbitration agreement, it is not known when the Arbitrator would rule. Thus, aside from substantive legal issues, Golden Boy will argue that this is a stall tactic by Haymon avoiding litigating the lawsuit.
On July 6th, the court transferred the case filed by Top Rank against Al Haymon to the same judge that is handling the Golden Boy case. Even if the Golden Boy lawsuit is stayed, it still has the Top Rank filing ahead of it.
Hahaha. Boxing = non stop lawsuits, desperation from banner promotions, a league that is burying everyone, old fans, old fighters. Their all scrambling because they know Mayweather/Pacquaio are done! Hahaha.
Wait maybe Canelo will be the next Mayweather. Only issue is he sucks.
D is a desperate Nancey bahahahah Don’t be hater because boxing is smoking the ufc hahaha
Sal likes weeners.