Listen Now:
By Bryanna Fissori
Former World Boxing Federation Cruiserweight Champion Bashiru “Bash” Ali was recently awarded receivership of the trademark and domain name of World Boxing Foundation, formerly known as World Boxing Federation.
The 57 year old boxer hailing from Nigeria has had a number of legal confrontations with the promotion. In 2003, Ali was awarded a permanent injunction against the WBF and $2.1 million when the Superior Court of California ruled that he was wrongfully striped of his September 2000 belt title, which he earned defeating Terry Ray in Lagos.
The WBF had declared the championship vacant before the mandatory title defense time frame, which was contracted at six months. Claims against the WBF included breach of contract, economic duress, fraud deceit, unfair business practices, negligent and intentional infliction of emotional distress.
Sale of the trademark and domain name are to serve as payment for the remainder of the judgment due, which equals $9,758,148.10 plus interest and costs. The receivership has been granted to Ali’s attorney with the instructions that he is “obligated to convert the domain name and trademark into cash recovery and is prepared to sell the domain name and trademark of WORLD BOXING FOUNDATION to the highest bidder, subject to confirmation and financial ability.”
It has yet to be said, what will come of the current champions and management under the promotion, but for anyone with aspirations of being a boxing promoter this could be an easy way to get in the door, and who knows what the re-sell value could be a couple of events from now . . .
The Law Offices of Cook Collection Attorneys, PLC in San Francisco will be accepting bids in writing until July 18, 2013.
