Golden Boy vs. Top Rank

Has anyone read the legal papers yet for the case?

A few things actually jumped out from it. Not sure this is really an attempt to win money. More payback, and an attempt to hurt Arum.

Some of the details are really quite interesting.

Manny really did only make $6 million for the Clottey fight. It states clearly that Bob Arum registered his purse for the fight, with Nevada, for tax purposes as “$6.7 million”.

Meaning Floyd was actually 100% right, in his video, when he claimed Manny had only made $6 million for Clottey. I’m assuming, being a partner, he must have known all of this legal stuff quite a while ago.

According to the papers, Arum had allegedly claimed to the media, and Golden Boy that he had been paid “$18 million guaranteed”.

The Cotto fight, according to the amount registered with Nevada, Manny was paid $12 million for the bout. Arum allegedly told GBP and the media that he had made $23 million guaranteed.

Where’s the money gone? Golden Boy allege that either MP Promotions (Manny’s company) are part of the alleged racketeering (fixing the company books) operation, or he himself is being allegedly defrauded. Very dodgy………….And I know which one is more likely

Another thing that caught my eye. This is actually Manny’s contract with Arum, according to the legal documents.

He gets paid either:

1: $2 million guaranteed.

Or

2: Takes 71% of the net profits, after his opponent has been paid, should his % share exceed $2 million.

Basically, his only guaranteed money in bouts is $2 million. Everything else is based on box office performance. And if he does make more than $2 million, after a big seller,
he has to give 29% of it back to Arum.


Of course Floyd’s video was bad taste, but wasn’t he actually right about Manny “signing any deal that gets put in front of him”?

How can Floyd be making $26 million guaranteed, before he even shows up? And also get the exact same profit sharing, if the bout performs well?


Finally, the last detail is that Manny's above deal runs out on "30th November 2010".

And GBP, as part of their deal, get "lead promoter" status, should Manny face another GBP opponent. Basically, their share in the profits sky rockets, if he faces another GBP guy, and Arum's drops.


Is this why Arum was setting deadlines, and demanding that Manny had to fight on November 13th? As in, a lot of people were wondering why he couldn't take longer to try and make a better deal with someone else. He claimed Manny had to fight on November 13th, because of his political career.


Isn't it more the fact that he wanted to get one more bout in, against a Top Rank guy, for a big pay day, before these awful (for Pacquiao) terms run out?


If you ask me, GBP are making a run on Pacquiao. They've done this to possibly expose to him a lot of what's going on behind his back, in regards to getting paid.

 

The timing though. Sure GBP aren't trying to show Manny this before he re-signs?

 

Bob was saying in the media, that he's more angry that this was being argued in the public domain, and not through their confidential mediation, through Weinstein.

Go figure!

 

Manny signs again with Arum, he officially can't read or write

 

It runs out on November 30th 2010 according to the legal documents

 

Manny doesn't need promoting at this stage of his career. Why hand over 20% to a promoter? His fights sell themselves these days.

He should do what Floyd, Hatton, Oscar, Calzaghe, did at this stage in their career.

Just fight under MP promotions, and sign a fight by fight deal with whatever promoter pays the most, as Floyd does.

Mayweather takes him 99% of what he brings to the event. Manny takes about 50%

 

Reminds me a bit of Tyson and King.

Don King made more from his bouts than he did............