Golden Boy Promotions Mission Statement from the Golden Boy Promotions official web site:
In a stunning breaking news story, The New York State Athletic Commission headed by chairwoman Melvina Lathan, a former boxing judge, has suspended the Golden Boy Promotions enterprise for 90 days – for it’s conduct handling the Nate Campbell-Victor Ortiz light welterweight bout held at The Theater at Madison Square Garden two months ago.
David Itskowitch, the Chief Operating Officer of the company created by former boxing champion Oscar De La Hoya, told Mitch Abramson of The New York Daily News the error was an admininstrative snafu. But every story has two sides and according to boxing web site www.thesweetscience.com and veteran columnist/noted author George Kimball, Golden Boy Promotions was suspended for “deceptive and fraudulent practices in direct violation of the federal Muhammad Ali Act” for it’s failure to disclose to boxers Ortiz and Campbell, the precise purse money terms of their bout at Madison Square Garden on May 15.
According to the story which was posted early this weekend at www.thesweetscience.com, HBO, which televised the 12-round fight, “Had agreed to underwrite a total purse of $750,000 for the fight … Campbell was paid just $125,000, Ortiz even less ($100,000). The discrepancy of $500,000 was concealed from both of the boxers, and, had Golden Boy had its way, would have been concealed from the NYSAC as well.”
Itskowitch, who previously worked for New York-based promoter Lou DiBella, denied the accusations to The New York Daily News, insisting there was no premeditated plan for any deception.
“Both fighters got disclosures,” Itskowitch stated to reporter Abramson of The New York Daily News in his web story which was posted early Sunday morning. “I don’t think what those fighters got paid has anything to do with this.”
According to Itskowitch, for the May 15th Garden show which featured the WBA Junior Welterweight title fight between American Paulie Malignaggi and Great Britain’s Amir Khan (which was won by Khan), the New York State Commission asked that Golden Boy submit contracts for all fighters on the bill. Golden Boy did not fully cooperate it sent the contracts to the Association of Boxing Commissions (ABA), supposedly because of concerns that because “New York is a public information State”, the submitted contracts could have become public record.
The ABA is a respected record-keeping organization that connects and intertwines each State boxing commission in the United States. Itskowitch said he thought it would be permissable to send the contract documentation to the ABA, according to his interpretation of the Muhammad Ali Boxing Reform Act. Itskowitch says Golden Boy did not want the contracts to be on public record because there were “confidentiality clauses” in some of those contracts.
The New York State Commission sent Golden Boy a letter on Friday to inform that Golden Boy will be suspended immediately for 90 days, for the reason being that the requested Golden Boy contracts were never sent to the New York office. Lathan, according to Itskowitch, did not hold a special hearing to discuss suspension nor did she respond to an e-mail asking for clarification.
Are you getting the feeling that maybe this is the kind of story that might have more than two sides? What a year it’s been for the sport, Oscar De La Hoya and Richard Schaefer, hasn’t it. Wonder if Bernard Hopkins has anything to say about this developing situation.