The parties in the Top Rank Boxing v. Al Haymon, et al. lawsuit filed in federal court in Los Angeles has been settled. The parties filed a joint stipulation to dismiss the case on Wednesday. Terms of the settlement are confidential per the stipulation filed with the court.
Al Haymon and his various business entities were sued by Top Rank Boxing this past July as the promoter claimed that Haymon’s upstart Premier Boxing Champions violated federal antitrust laws as well the Muhammad Ali Act and California State Business Regulations.
Top Rank amended its lawsuit on 3 separate occasions. One of the tries resulted with Haymon securing a dismissal. However, the court allowed Top Rank the opportunity to refile. Which it did.
Perhaps what precipitated the beginning of the end of this litigation was securing the opportunity to obtain documents (including financial information) from promoter Lou DiBella and his company DiBella Entertainment, Inc. It was claimed by Top Rank that DiBella was a “sham promoter” essentially working for Haymon.
Joint Stipulation Dismissing Lawsuit by JASONCRUZ206
Another theory which may have caused the two sides to settle would be the downturn of PBC. Ratings have been sluggish and reports of PBC seeping money seems valid. Also, investors filed a lawsuit in Kansas over a fund’s strategy to invest in PBC. Settling this lawsuit may negate the hefty legal bills the company is racking up.
A similar lawsuit filed by Golden Boy against Haymon continues in Los Angeles with discovery ongoing.
Payout Perspective:
It will be interesting to see how much further the Golden Boy lawsuit goes. If they are to obtain documents from other promoters (like DiBella) in discovery, it could leverage into a favorable settlement. It is unknown if PBC would run the risk of continuing with defending this lawsuit if there is the possibility of losing a huge verdict.
Just a note. If you start an MMA-Boxing argument on this thread that is not relevant to this post, you will be “graduating” from posting comments on MMA Payout.
Is the same policy going into place for the UFC articles? That would be a balanced approach.
Well said Jason Cruz, well said brother.
I don’t think Haymon would have trouble with legal fees, because as much as PBC is apparently losing, they are paying the fighters well and he will be getting a large advisor fee from every purse.
Glad this lawsuit is settled. Pbc has some big fights coming up and this is one less thing to worry about.
It would seem that it is Top Rank that is low on funds following the HUGE loss on Pac-Bradley 3. Seems much more likely that Top Rank didn’t want to incur more legal fees on a suit they had no chance of winning while getting exposed for stealing money from Pac.
PBC has a plan for investment… not “losses” just because.
Top Rank on the other hand… took it right on the chin for Pac-Bradley. They will never recoup that money in boxing.
I hate these deals with non-disclosures. We don’t ever get to find out what happened.
For those wondering about the policy. It’s up to us at MMA Payout. I would suggest you temper your comments about the old boxing is dead/UFC dead discussion.
Seriously, if you think that’s too much, you should probably just head over to the other sites. I’m sure they get a broader audience than us.
If this is now the trend for this website, I do believe I will come around more and comment on these excellent articles that are posted. Well done administrator, well done. Class move indeed.
Now gentlemen….I have the distinct feeling we will be seeing more promotional opportunities between Top Rank and the Haymon influenced promoters because of this, especially since Arum said he is willing to work with Showtime and not just HBO. I dont think his Metro PCS show did that well, even though it was good fights….could we possibly see Top Rank promote PBC fights?
Cruz? Is that possible?
i wonder how much they agreed to pay arum.
also i read arum lost alot of money on pacquious last fight
pac got a guaranteed 20 million pay day but the fight bombed on ppv and the gate
wasnt to good.
Pac Bradley had all the recipes for a poor fight. No interest from fans since the last two fights were boring unlike his battles with Marquez. A ppv which cost a fair amount of money to buy. And pac was coming off a huge loss to mayweather. Add those up And it was easy to see why it failed.
I watched the Manny-Bradley fight because honestly you had 2 P4P fighters fighting for the 3rd time and the level of skill is clear…but absolutely no one expected it to be a blockbuster due to the inability to capture the casual imagination and absolutely no “unknown” factor
They made tons of money from pacman over the years….easily can recover from the pacman vs bradley 3….top rank on pbc will be good for the sport
Tops E, I agree 100%, if Haymon and Top Rank start co promoting fights, or if Arum realizes what he and other promoters have to gain from the PBC model, then we are in for some amazing fights. Can you imagine seeing Bradley vs. the winner of Porter vs. Thurman? Or the winner of Crawford-Postol vs Broner or vs a Welterweight champion? Good stuff.
Or Deontay Wilder vs. Andy Ruiz on NBC….imagine the viewership that would get
Mayweather Promotions and the Al Haymon clan should pursue this big time. We NEED to see female boxing back in the mix like we saw in the 90s
http://entimports.com/2016/05/withzuffa-contract-almrrrost-up-cris-cyborg-eyeing-pro-boxing-debut/
http://www.rollingstone.com/sports/features/joe-rogan-on-conor-mcgregor-floyd-mayweather-and-his-ufc-future-20160520