Breaking News: Haymon Wins Legal Battle Against Golden Boy
By: Sean Crose
Oscar De La Hoya’s Golden Boy Promotions has lost a lawsuit worth hundreds of millions of dollars against boxing guru Al Haymon, and his Premiere Boxing Champions series. John F Walters, the judge presiding, dismissed the case without prejudice. This is an important moment for Haymon. After his PBC enterprise was said to be hemorrhaging the money given to it by hedge fund Wadell and Reed, big fights involving Haymon fighters have finally been scheduled. And now that he’s won his battle with Golden Boy, which accused him of being a manager AND a promoter (which is illegal) the enigmatic Haymon can breathe a bit easier.
To be sure, Haymon, who doesn’t speak to the media, has been bombarded with allegations that he overpays his fighters (often for engaging in non-competitive matchups) and has worked to essentially create a boxing monopoly for himself and for his organization. He was recently sued by another competitor, Bob Arum’s Top Rank Promotions, but that suit was reportedly settled out of court. Things obviously did not work out so well for Golden Boy, however, which was defeated soundly in California’s Central District on Thursday afternoon.