Golden Boy Promotions Suspended By NY Commission

Good, bout time somebody brought GBP back down to earth. Withholding money from you lower tier fighters sounds like a pretty shitty thing to do, but for all we know Campbell and Ortiz might have been OK with it so i dnt know what to think. Glad the NY commision isn't turning the other cheek though.
 
I knew which card they were suspended for before I opened the link

honestly, that whole deal was real fishy, and I'm glad they didn't let it blow over
 
Not that the NYSAC is some pillar of boxing reform...
 
If that is the case why aren't the CASC and NSAC banning them.
 
Hah hah hah, Golden Boy De La Hoya following in Don King and Bob Arums's side-winding footsteps. Boy still has something to learn though about not getting caught!

To be serious, it's too bad that's the way business is being conducted by Golden Boy, with a former fighter short-changing other fighters especially when he knows firsthand about elite fighters sacrifice and dedication. Don't make excuses now, Oscar's the head, he's accountable. But hey, even when De La Hoya was an active fighter, he was short-changing other fighters then too wasn't he: his opponents!

When Oscar went up to Middleweight to challenge long-time Middle Champ Hopkins, it was the Champ Hopkins who got the short-end 40% and the challenger De La Hoya commanding the lion's share 60%.
That was Hopkins accepting reality and betraying some of those principles he's always harping on about.
 
enswell said:
Hah hah hah, Golden Boy De La Hoya following in Don King and Bob Arums's side-winding footsteps. Boy still has something to learn though about not getting caught!

To be serious, it's too bad that's the way business is being conducted by Golden Boy, with a former fighter short-changing other fighters especially when he knows firsthand about elite fighters sacrifice and dedication. Don't make excuses now, Oscar's the head, he's accountable. But hey, even when De La Hoya was an active fighter, he was short-changing other fighters then too wasn't he: his opponents!

When Oscar went up to Middleweight to challenge long-time Middle Champ Hopkins, it was the Champ Hopkins who got the short-end 40% and the challenger De La Hoya commanding the lion's share 60%.
That was Hopkins accepting reality and betraying some of those principles he's always harping on about.
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The problem is the hyping of fighters who haven't proven anything yet. You have bidding wars on prospects who promoters bet on having the personality to draw fans in the future, but then they end up getting stuck with these grossly inflated guarantees. Guys like Berto, who can't draw flies to shit, are guaranteed $1M a fight, and it has to come from somewhere. A lot easier to jerk the fighters that they have less invested in. At least Khan seems to draw some fans, but Berto and Dawson, even as talented young fighters, have not proven themselves to be worth their salary based on their ability to put asses in seats.
 
Fucked up.

Victor Ortiz is one of their best up and commers. WTF were they thinking?

De La Hoya will be ashamed of this garbage, I'm sure.
 
From a article in 2006.

Duva questioned Golden Boy's motives, saying, "When you're running your business with the intention of running your competitors out of business, it's a shame. Because when you succeed what do you have? You have Wal-Mart.

"Either Golden Boy, Oscar, becomes the single distributor of boxing to HBO, in which case HBO will have to pay whatever he tells them, or at some point the fighters will have nowhere to go and he'll tell them how much they're making, maybe both. If you want to get your fighter on HBO you're going to have to fight a Golden Boy fighter because they have all the dates. And HBO says no they don't, but they do."

Is Golden Boy's business bad for boxing? - Boxing - CBSSports.com
 
Glad the boxing commission stood up for the fighters. Oscar's and Schaeffer's heads were already inflated. They needed someone to put them in their place. Sucks for Ortiz and Campbell.
 
mschatz said:
The problem is the hyping of fighters who haven't proven anything yet. You have bidding wars on prospects who promoters bet on having the personality to draw fans in the future, but then they end up getting stuck with these grossly inflated guarantees. Guys like Berto, who can't draw flies to shit, are guaranteed $1M a fight, and it has to come from somewhere. A lot easier to jerk the fighters that they have less invested in. At least Khan seems to draw some fans, but Berto and Dawson, even as talented young fighters, have not proven themselves to be worth their salary based on their ability to put asses in seats.
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i think dawson has proven himself as an a elite fighter his problem is that gary shaw is a lazy promoter be interesting to see how the ring reports on this
 
1. Clearly the writer has a hate on for GDP as evidenced by his string of accusations at the beginning of the article (most of which were unrelated to the suspension).

2. Good for the NY Commission for standing up on this issue. I'll wait for the investigation before I say shame on GDP since it is all accusations right now. Promoters need to have a real governing body overseeing their conduct. Rare to see one of the commissions actually take that seriously.

3. Some of the other posts on this thread relate to GDP's overall strategy, including their close relationship with HBO. Some people might not like it but it seems like good business to me and in no way illegal. Their are pro's and con's to a UFC type model in boxing. Personally I think that a monopoly is highly, highly unlikely anyway. However, additional consolidation of the market might not be a bad thing.
 
nip102 said:
i think dawson has proven himself as an a elite fighter his problem is that gary shaw is a lazy promoter be interesting to see how the ring reports on this
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He has proven himself as an elite fighter, but not as a guy who can sell tickets.
Salaries have to come from somewhere, and if you only draw a few thousand people in your hometown, it is tough to justify making a million a fight. It forces either horrible undercards to keep costs down, or guys get shorted like in the TS's article. Guys should not be making those guarantees until they are a proven commodity.
 
Yea, they rig fights all the time IMO
not to mention all the other greedy, illegal shit they do
im not a fan of theirs
 
NYSAC Lifts Suspension Of Golden Boy And Clears Its Name

The New York State Athletic Commission, after a hearing today, unanimously voted to lift the July 6, 2010 suspension of Golden Boy Promotions's New York boxing promoter's license. The Commission's Order, as well as its original Suspension Order, is attached hereto. The Commission' ruling unequivocally demonstrates that certain members of the boxing press, particularly George Kimball, had been guilty of unprofessional and personally vindictive reporting that falsely claimed that Golden Boy had been suspended for unethical conduct - arising from supposed financial transactions relating to Golden Boy's May 15, 2010 event in New York - after a full hearing..

In fact, as the Commission's ruling today made clear:

a. Golden Boy had been suspended without a hearing only because there had been a misunderstanding and then delays in producing certain fighter contracts, as opposed to any allegations of financial misconduct. In other words, the only reason for the suspension had to do with these commission disclosure issues, and the suspension notice did not remotely suggest that Golden Boy had engaged in any inappropriate conduct vis a vis its fighters - all of whom had received timely Ali Act disclosures.

b. After its hearing today, the Commission explicitly found today that an initial Golden Boy disclosure, omitting the existence of certain contracts, was a simple mistake, and that the production of these contracts should have been made earlier. However, during the Commission meeting the Commission acknowledged that, having now seen all relevant contracts, there was no evidence of any substantive wrongdoing on the part of Golden Boy. Golden Boy has acknowledged an error (arising from the absence of key personnel for a short period of time) with respect solely to its timely production, and has therefore paid a $10,000 fine to the Commission upon the Commission's finding that only New York laws, rather than the Ali Act, had been violated.

While Golden Boy made some procedural errors, the real story here is how supposedly reputable journalists, such as Mr. Kimball, feel free to write affirmatively false stories which they either know to be false or should have known to be false by simply reading the relevant documents. In this case, Mr. Kimball plainly never read the Commission's suspension order and did not even bother to reach out to any Golden Boy representative to hear Golden Boy's side, the truthful one, of the story. Indeed, in the case of Mr. Kimball, this conduct is particularly egregious in that he just published another false story in the Boston Herald on this subject.

Golden Boy is evaluating its legal options against Mr. Kimball and his publishers. It is our hope that the matter can be put to bed with a retraction and an apology. However, Golden Boy wants to make clear that, going forward, it will not tolerate this kind of irresponsible journalism, and will move swiftly to vindicate itself in court and elsewhere.
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Obviously it's a Golden Boy Press Release... or at least it reads like a Golden Boy Press Release but it looks like this was a bit of a storm in a tea cup.
 
Brooklyn arena positioned to host boxing events - ESPN

Brooklyn arena to host boxing events

NEW YORK -- The fertile boxing ground that produced dozens of world champions, from Mike Tyson to Riddick Bowe, will soon have a regular series of fights in a glimmering new arena.

Golden Boy Promotions has agreed to bring at least 12 shows each year to the New Jersey Nets' new home in Brooklyn. The announcement was made Wednesday by Los Angeles-based Golden Boy and Brooklyn Sports & Entertainment, which is behind the 22-acre Atlantic Yards development.

The centerpiece of it, the 18,000-seat Barclays Center, is scheduled to open in 2012.

"There's a rich heritage in this marketplace," Brett Yormark, president and chief executive of Brooklyn Sports & Entertainment, told The Associated Press. "We're going to work very closely with Golden Boy, and we're very excited about the possibilities."

The agreement is exclusive in the fact that Golden Boy will not have similar agreements to develop other boxing franchises in the New York area, but Yormark said it will not prevent local promoters from working with Golden Boy to stage fights at the Barclays Center.

"The exclusive word is a little overstated," Yormark said.

The strategic partnership is modeled after what Golden Boy has accomplished at the Nokia Theater in Los Angeles. Last year, the promoter began a series of monthly "Fight Night Club" cards that feature local talent and draw about 2,000 fans. Boxers who are successful both in the ring and in drawing crowds graduate to fighting in the 8,000-seat Nokia Theater.

Eventually, Golden Boy hopes that fighters who started out at the bottom will become big enough attractions to headline across the street at the 20,000-seat Staples Center.

"This is not just bringing once in a while a championship fight to New York," Golden Boy chief executive Richard Schaefer said. "It is about developing a new fan audience for the sport of boxing, and doing a combination of different shows."

Golden Boy has never been heavily invested in the East Coast, instead staging most of its fights in California and Las Vegas. But the idea was always in the back of Schaefer's mind to make inroads in New York, where the Golden Gloves is an institution and arenas such as Madison Square Garden and Yankee Stadium have hosted some of the sport's greatest moments.

"We like to take our time and make sure when we do make a decision, or team up with somebody, it will be someone who can be a strategic partner with us," Schaefer said. "As we were looking at the landscape on the East Coast, we got together with Brett Yormark, and when we reached out to him -- when you have these meetings, sometimes it clicks immediately."

Schaefer and Yormark both said that they are not necessarily out to compete with the Garden, which has long dominated the New York boxing scene.

"For me, it's about defining what the Barclays Center is about -- it's about volume and variety," Yormark said. "And boxing will have a place in our programming schedule."

The design of the Barclays Center works well for boxing, with numerous configurations to trim the seating capacity to about 4,000 for smaller shows. The video board hanging over center court will allow for replays and the relatively low level of luxury suites are also a draw.

Perhaps the biggest thing going for the arena, though, is its location in Brooklyn.

The borough across the East River from Manhattan is home to the famed Gleason's Gym, and has produced numerous world champions, from Tyson and Bowe to Zab Judah and Paulie Malignaggi

Ebbets Field hosted nearly 90 fight cards outdoors before it was torn down, and small shows are still held in the borough at places such as the Aviator Sports and Events Center.

"This is for the betterment of the sport," Schaefer said, "and I think it's fantastic when you have a venue and an ownership group that makes a commitment to the sport of boxing. We want to show the audience these fighters as they grow, and hopefully become world champions."
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