Golden Boy Banned for 90 Days...

For those of you that don't think this isn't serious, you are forgetting the other part of the story. They defrauded some fighters of their due purse cuts. This isn't ONLY about the late filing. They didn't file to hide up other financial misconduct and were hoping it would just slip through the cracks. This ain't over. There is a half million missing out of fighters purses.......

 

Doesn't surprise me one bit

 

Seems as if all promoters are all alike. Mills Lane was an honest promoter, but had a stroke, great referee also. "Let's Get It On Promotions".

 

Defrauded and fail to disclose are two different things. The fighters were paid what Golden Boy told them they were going to get. Golden Boy offered X amount in a contract, the fighters agreed, and were paid that amount. The problem is Golden Boy didn't disclose to the fighters how much HBO was paying them (the Promoter) for the fight, which is required in NYC.

For example, HBO paid GB 750K for the fight. GB offered the fighters around 100K each, which the fighters accepted, but GB didn't mention that they were being paid 750K for the fight.

Not that big of a deal, the fighters made what they were promised.

For those asking if this effects May/Pac, this is only in NY. That fight is being proposed to take place in LV.

 

It may not be a big deal to you but they still violated the law.

http://www.govtrack.us/congress/billtext.xpd?bill=h106-1832

 

Wasn't referring to general legality. Of course they broke the law and are being punished. I was referring to the statement that fighters were defrauded. This really isn't true since the fighters were paid what they were promised. The problem is more between GB and the commission, and not GB and the fighters.

 

Probably, Mayweather doesn't want to do business with Bob Arum. He's "using" GBP to make the deal with Pacquiao.

 

he already did

 

How often does Golden Boy promote a card any way?

There's nothing to stop them working in the background with regards to their other promotional duties and obligations.

They won't lose a wink of sleep over this, especially as we're not even in the boxing season at the moment.

 

Try to comprehend what the said law is then post your comment

 

First reports were they signed for a percentage though, not a specific amount. Even if they got what they were told, if they didn't get the percentage contracted for, that is fraud.

 

If they were offered a percentage then yes you're right. The report I read said the fighters were offered specific amounts and accepted.

Regardless, the 90 ban in NY isn't really going to hurt them - their biggest fights take place in LV. I wonder if they've done the same thing in LV - does the disclosure law apply to all states?