|12-14-2007, 07:42 AM||#1|
ESB Jr Member
Join Date: Jul 2004
Apparantly Diaz V Kat is off!
BREAKING NEWS: DIAZ-KATSIDIS FIGHT IS A NO GO
By Dong Secuya
Fri, 14 Dec 2007
GUADALAJARA, MEXICO -- Topnotch matchmaker Sampson Lewkowicz said that the highly anticipated fight between world champion Juan Diaz Of Mexico and Michael Katsidis of Australia scheduled on February 9 next year in the United States wouldn't push through.
"Someone botched during the negotiation and purse bidding so we ended up with no fight," Lewkowicz, who is in Guadalajara for the Solis-Batawang fight, told PhilBoxing.com.
Earlier, Golden Boy Promotions has earned the right to promote the Diaz-Katsidis fight by winning the purse bidding of the fight for 1.5 million dollars. The agreement calls for 1.2 million dollars going to Diaz and 300,000 dollars to Katsidis. It was also reported that both Katsidis and Diaz have already signed the contract. Don King Promotions, who holds Diaz's promotional right for one more fight, and any other promoter did not participate in the bidding.
The catch however is that Don King Promotions, who promotes Juan Diaz and who has one last fight for Diaz until March next year has a fine print in his contract with Diaz that states that "DKP (Don King Promotions) has the exclusive right to promote the last bout of Juan Diaz." The 'exclusivity' phrase pretty much negate any agreement entered into by Juan Diaz with any other promoter for his next fight.
Asked whose fault was it, Lewkowicz would say that "Willie Savannah, Diaz's manager, had a copy of the contract with him all the time but apparently failed to review it. Now, I've got a copy of the contract and I would say it's a no go."
Would it still be possible for the fight to push through if Don King would be involved? "Well, money talks. But at this time I highly doubt if the fight would ever materialize," Lewkowicz concluded.
|12-15-2007, 06:54 PM||#5|
Join Date: Apr 2006
Re: Apparantly Diaz V Kat is off!
I'l condense what I know as best I can.
This fight went to purse bid. It was held in Puerto Rico and Goldenboy were the only party who bid on the fight. They got it at 1.2million where Diaz got 800k and Kats 300k. Diaz's promoter Don King was not present at the purse bid.
Both fighters have signed to fight. Here is the problem...
Diaz signed, supposedly on the advice of his manager Willy Savannah. Now, if Diaz sighned a contract without Kings consent and he took the signing bonus and other considerations, he needs to honor that contract. He has a contract with DKP that expires March 2008.
Juan's problem, now that he has signed the Katsidis contract is that he is liable on both ends. If he fights Katsidis, then King can sue him for breach of contract and HBO and Goldenboy for interference. If he doesn't fight, then Goldenboy can sue him for breach. He's in a bad spot. Goldenboy probably wouldn't sue him because they want to sign him.
On top of that, their is alegal argument (from King again) to say that the WBO are wrong to order the purse bid at this time and force the fight to go ahead because since Diaz is a "super shampion", he has more time to do his mandatory than a regular champ does.
But wait their's more!!! Apparently Kings contract with Diaz states that Diaz can't fight on a promotion that King is not involved with.
The fact big Don didn't show up to the purse bid is suspicious to say the least. Obviosuly Diaz manager wants the fight to go ahead, but he seems at loggerheads with King if you read the press.
We should all know in a few days whether this fight goes ahead or ends up a legal mess.
EDIT: oops, sorry for regurgitating some of what was stated in the link. I didn't read it before posting, just replied to Waynesmale's post.