Some boxers have NOT been paid

:deal Couldn't believe when i read that. Fish eyes days are numbered.

 

He may have done from a guarantee as I don't know so much about that just the legal issue. But the money he won from the courtroom the £2million he has not received. That is what I was getting at. I think you are close with £7million for fight total, £5million guarantee paid and the other £2million not paid, that is the money Joe won at court surely but hasn't received. It makes sense now.

The £7million defecit, wow, I checked that site you linked with :yikes and I noticed his bank account was £46 or summat like that and his debt's £7million-odd. Unbelievable to consider how things have gone so **** for him, he misses Hatton :deal

 

What puzzles me is that within the group of companies, one of them loses £7m.... accounted as ''amortization of intangibles'' and another issues 140m ordinary shares at 5p each - all to Allegedly

The ''report'' will tell as much of the story as can realistically be found.

 

:good

Seriously they have to be. No Sky, unpaid fighters and no money to bankroll a show without adding to debt. Hard predicament to be in for Allegedly. But he does have Del-Boy a fight with Vitali and he could always get some fights like; Sacrificing Burns to JMM for some money in US. Chuck Mitchell in with Rios too, Degale in with Froch, Cleverly with B-Hop etc.

If I were him i'd go hell for leather and gamble the lot. If he loses it can't be any worse and if he wins the gambles or majority of he will go towards sorting himself out. He has to source some funds to play big now. I just can't see him doing it though.

 

I have personally heard rumours of undercard fighters not been paid and shows being cancelled due to poor sales and labour issues.if the big stars aren't being paid allegedly is screwed

 

http://news.bbc.co.uk/sport1/hi/boxing/8507392.stm

http://www.calzaghe.com/latest-news...in-£2-million-court-battle-with-calzaghe.aspx

 

This sounds uncannily like RBS to some degree. You've borrowed so much cash and you know you'll struggle to repay it because your income sources are drying up. So, instead of cutting back and simplifying, you spend even more - first on legal writs to stop anyone saying you're in trouble, and then on crazy business ventures that, if they work, will pull you out of the fire. Unfortunately, if they don't work they will cripple you and ruin many of those who rely on you.

Scary stuff.

 

Whats happened since the BBC report? it states that the hearing should have taken place June 2010?

Things look majorly bad!

 

That's a really good comparison.

In this case the takeover of ABN-AMRO could be any of several incidents.

Hatton leaving, Calzaghe leaving, Khan PPV's boming/him leaving, Setanta bombing.....

In this instance there'll be no bailout and it'll be the poor man getting punched in the head that loses out.

 

If any of this is remotely true, then a few promoters will be ready to swoop!

 

If this is true what about the poor ****s who payed there £60 subscription, atsch

 

surely theyd be paying it month by month

 

Could he not do what the banks have done and get the government to bail him out

 

It's also £50, not £60.

 

The problem for the promoter in question is that when all his fighters last fought it was all on freeview so he had no tv money at all. If he had no change in the bank and with the cost of setting up the new channel the only time in the last couple of months that he would have some solid income is when the subscription money has arrived. And I suspect much of that will go to the Jew on the other side of the pond for the cotto card.