Arum, King, De la Hoya "The good, the bad and the ugly"

You have it wrong...once Pac took the cash Oscar had a contract. Ask yourself why Oscar makes money everytime Pac fights...if Oscar was the one who was in the wrong how come he is being rewarded.

read the press release below

LOS ANGELES (June 29) -- Golden Boy Promotions and Top Rank have reached a
settlement of the various legal disputes including that pertaining to Manny Pacquiao.

Bouts between Manny Pacquiao and marquee fighters under contract to Golden
Boy will be co-promoted by Golden Boy and Top Rank. Fights between Manny
Pacquiao against fighters other than Golden Boy fighters will be promoted
by Top Rank with Golden Boy retaining a promotional interest.

The first fight which will be presented under this arrangement will be
Manny Pacquiao vs. Marco Antonio Barrera on October 6, 2007 at Mandalay
Bay Hotel and Casino in Las Vegas.

Richard Schaefer, CEO of Golden Boy, and Bob Arum, CEO of Top Rank, both
agreed that the settlement will be great for boxing as Top Rank fighters
will be taking on Golden Boy fighters in the months and years ahead.

All other details of the settlement are confidential

 

I know what you mean...Oscar did jack up the prices on us...I think he the good but it doesn't change these DAMN 100 DOLLAR PPV BILLS AS OPPOSED TO AN 80 DOLLAR A MONTH PPV

 

It is either you are blind or can not really read what you are posting.
Assuming that GBP is right, why in the whole world would the article make to appear like they gained a little from it all. "Retaining a promotional interest" is not excatly a term to use when you have full promotional interest.

There is an article very recently where GBP has actually a minority rights to the promotional fights of Pacquiao, I would like to reiterate, MINORITY promotional rights. If GBP was right, then he would have the majority promotional rights instead of Top Rank. Infact, they are actually trying to get out of that minority promotional rights by virtue of the recent actions of GBP in accusing Pac of using steroids, an action counter to what a company who has co-promotional right to the one they are accusing of PEDS.

Although at the time of the signing of GBP contract, Pac had already fulfilled his contract with Top Rank in terms of number of fights, Pac is still bound apparently because Top Rank has the "right of first refusal" by virtue of Pac as a Top Rank fighter.

Simply stated, the right of first refusal is :

In general, the right of a person or company to purchase something before the offering is made available to others.
an example :

For example, a football team may have the right of first refusal on a player's contract. This would mean they can make the first offer, or perhaps even match other offers, before the player signs with another team.

That is why Top Rank filed in courts the case of Tortious interference, which is simply defined as;

"Tortious interference with contract rights can occur where the [ame="http://en.wikipedia.org/wiki/Tortfeasor"]

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[/ame] convinces a party to breach the contract against the [ame="http://en.wikipedia.org/wiki/Plaintiff"]

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[/ame], or where the tortfeasor disrupts the ability of one party to perform his obligations under the contract, thereby preventing the [ame="http://en.wikipedia.org/wiki/Plaintiff"]

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[/ame] from receiving the performance promised. The hardcore instance of this tort occurs when one party induces another party to breach a contract with a third party, in circumstances where the first party has no privilege to act as it does and acts with knowledge of the existence of the contract. Such conduct is termed tortious inducement of breach of contract."

But then, it is so annoying when people blurt out facts without even understanding it.

 

More like the Bad, the Ugly and the Fishnet.

 

promoters suck!

 

Your definition requires proof that Oscar had knowledge of a contract at the time. According to the facts Golden Boy Promotions was not aware of an existing contract, if Pac was already under contract it was his duty to advise Oscar of it. According, to sources Pac was not under contract at the time. The facts tend to support this in that Pacquiao attorney Jeng Gacal was present during the negotiation, after which Manny signed a contract and received the large cash consideration from Golden Boy. It was only days later that Manny contacted Oscar desiring to return the money informing him that he had signed a new contract with Top Rank. It was clear afterwards that Oscar had a claim against Manny for fraud and breach of contract and another against Top Rank for interference with a contract. The crucial thing to recognize is that both claims are cognizable under tort allowing punitive damages.

A copy of Black's Law Dictionary alone will not make your case.

look at the facts below

A right of first refusal does not imply contract as it may be constructed simply as an agreement to agree. Courts have taken agreements to agree as non contracts. In order for it to be a binding contract all material facts must be present . In order to determine this we would need to have the text of this clause.

One thing you should note is that either way Pac has considerable exposure for his actions and would have been liable to Golden Boy.


http://sports.espn.go.com/sports/boxing/columns/story?columnist=rafael_dan&id=3741110

 

don king is the worst. how many times has he been sued? how often do his fighters fight? the dude is an black conservative republican. enough said.

 

It is simply you do not know anything.

Facts :

1. Arum was the one who sued for tortious interference (from the word TORT) and not GBP.

2. There was no court hearing or anything like that because it was done eventually through arbitration, the arbiter was the same one they used for the Mayweather-Pac fight.

3. By virtue of arbitartion, Top rank retaiuned MAJORITY PROMOTIONAL RIGHTS, while GBP retained MINORITY PROMOTIONAL RIGHTS (Apparently the figures being relaesd is between 10-20 percent of the promotional fees (not the total ourse).

4. Although at that time, Pac had already completed his comtract with Arum in terms of the number of fights, Arum has still not negotiated for extension of the contract because at that time, Pac was due to fight his last fight of that contract (i think it was JMM). In a way, when Pac signed his contract with GBP, technically, Pac is stiull an Arum fighter as the final fight was not consumated yet. Assuming that the fight was consumated or done, SArum has still the right of first refusal.

Your argument is partly right that Pac signed a contract, hoever, as to the valididity of the said contract, it is not really known as there was no court case and was done through arbitration. Had it been done through the court, the procedure would be very tedious and prolonged that is why both parties agreed to arbitrate.

If GBP was right, then they should not receive minority promotional rights.

Here is an excerpt form boxing scene and you will note that GBP only has minority promotional rights.

http://www.***********.com/?m=show&id=24362

From Asian Journal :

Golden Boy receives a percentage of Pacquiao’s earnings through Top Rank after a 2007 settlement when Top Rank and Golden Boy were fighting for the Filipino’s promotional rights. After mediation in 2007,

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No matter how you twist the facts, GBP did not have rights to Pac during the signing of the contract, otherwise,

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Your assumption that " If GBP was right, then they should not receive minority promotional rights" is flawed. You assume your entire argument on the basis of a mediated result. Mediation, is risk managment at its best as you do not know what the jury will conclude nor the damage amount. The risk of that alone motivated both parties to resolve the conflict.

If you have ever negotiated a settlement you would understand that the purpose of arbitration is not to get exactly what you want but to mitigate your risks. Judges can in determining what evidence will be permitted, how key legal rules will impact procedure, and jury instructions could make the case difficult for either party. It is important to note that the result could have ruined either Top Rank or Golden Boy look up the Penzoil v. Texaco case (the largest award ever for the exact same tort).

From a business perspective the settlement saved time and money. Furthermore, this conflict prevented many fights from happening and it was hurting both parties and the fans. If you think that Oscar came out the loser you are entitled to your opinion. Objectively speaking Oscar makes millions each time Pac fights and a pic of Manny is on the GBP website.



the costs of the trial and subsequent appeals would have been enormous.

 

Oh snaps, we're getting schooled in law fellas!

 

Do you think that GBP is so stupid to just be happy with a minority promotional right considering that he basically "kidnapped" Pac straight from the airport and brought him to a restaurant, offered 200 T dollars, and asked Pac to sign a contract, and be happy being granted MINORITY PROMOTIONAL RIGHTS.

Any party can walk out of a mediation if their demands is not met. As recently as the Floyd -Pac mediation, one party just walked out (the mediator was Webster, who coindcidentally was also the mediator in the GBP-Top Rank fiasco).

Had it gone through court hearing, GBP would have definitely lose, but since it would also freeze future Pac fights until such issue was resolved (may take months to year), a mediation granting GBP minority promotional right (articles are between 10-20 per cent) was the result.

This has been debated ad libitum a long time ago, and If you believe that the GBP contract was a valid contract, then so be it. He got 10-20 per cent of the promotional fee while Arum took the lion's share.

Use your head. Did Arum pay Webster? Or simply that GBP has lesser legal ground?

Mediation arguments is actually based on sound legal principles. It is simply not a bargaining or haggling that is happening on the table, like trying to buy fish, where one party offers something and another offers something.

Those that have lesser legal foundation to stand in usually losses, or gets less benefits. Mulitnational companies however is more complex and base their compensation on several factors, like cost efefectiveness (sometimes companies would rather pay than have protracted legal battle especially against pro bono lawyers, public relations or image, whether they really have winning ground (example asbestos industry or environmental pollution), etc.

But what we have does not fall in any of those categories. The simple question is wheteher GBP has a valid claim to Pac's promotional rights. Because if they really had, then surely they would have fought for more outside of mediation.

But anyone who has a decent mind would see that Pac has still to see Arum's offer before he can accept or sign any contract, which was not done in this case.

GBP is known for "pirating" fighters they never developed.

 

Surprisingly bob Arum is the best of that lot, or I should say the lesser evil.

Arum is not afraid to make a big fight, whether it's inhouse or against a rival promotion's fighter. He wants Bradley-Valero now which is great for boxing. Top Rank have put together the best fights over the last few years imo.

Last memory I have of King are him recycling all his heavies in fights with each other to keep control of the titles. That was a horrible, horrible time in heavyweight history. I'm glad he is no longer relevant.

De La Hoya though is the worst, because he should know better. Him and his company are easily the greediest in boxing. Got a lot of gripes with them. None of their mega-fights have ever had a good undercard because stingy ****s don't want to cut into their profits by having to pay for decent fights. And there seems to be a rising number of controversial decisions that have gone in their fighters' favor. There was them selling out JMM in the Mayweather fight. Their reckless accusations against Pac. Plus they own the ring which sucks and has comprised the credibility of what once used to be referred to as the 'Bible Of Boxing'. Some of their ratings and articles lately have been slanted towards GBP fighters, and leaves a lot of questions..

 

I kind-of agree with this, but also don't.

JMM didn't have to take the fight. I think he did because a.) he'd get a career-high pay day and b.) precisely because of the 'sacrificial pawn' aspect. If he lost, everyone would be saying exactly what they're saying now (gross mismatch, bull**** fight, which it was ...), but if he did the impossible and actually beat Mayweather, people would be hailing him as one of the greatest ever.

It was basically win-win from his perspective, given that he didn't have a zero to protect and nobody expected him to win anyway.

 

If you think that 300,000 dollars per pound is big, if JMM did not sign the revised contract, Mayweather would have been sanctioned by NSAC in the amount of 10 percent of his purse or around 1.0 to 1.5 million dollars depending on what fiogure you are using.

JMM could have asked for 500,000 dollars per pound and Mayweather would have obliged.

But here is a known fact - GBP paid 5 million dollars advance as payment of IRS problems of Mayweather.

There is more benefit that JMM would get if he hold on to the contract.

1. Since Mayweather has already paid an advance, he can not back out of the fight claiming he can not make 144. He would be forced to shed 2 pounds in two hours, and be reweighed (which he did not have to do with the revised contract)

2. JMM can back out of the fight and sue Mayweather for lost revenue.

3. He could wrangle it to get more than 300,000 dollars.

Do you honestly believe that the decision was entirely and freely JMM alone? In the press conference, Beristein have the look of someone who did not oarticioate in that decision which is understandable considering that at the onset, his fighter is already diasdvantaged even without the weigh-in fiasco.

 

Hmm...I'm going to go with Arum as the *******, King as the dastard and ODLH of course is the noob. He's still slimy, don't get me wrong, but he has years of having his humanity ripped away before he's quite as slimy as King and Arum. But he's got the goods to get there, sorry to say.