Wednesday 22 September 2010

Golden Boy suing Top Rank -- ESPN

By Dan Rafael, ESPN.com

Golden Boy Promotions sued bitter rival promotional powerhouse Top Rank, its chairman, Bob Arum, and chief financial officer David Lopez in federal court Tuesday, accusing them of racketeering and millions of dollars in fraud.

Arum denied the allegations.

The 23-page suit filed in U.S. District Court in Nevada, and obtained by ESPN.com, accuses Arum of a pattern of purposefully trying to hide millions of dollars Top Rank allegedly owes Golden Boy related to money generated from three Manny Pacquiao fights.

Golden Boy, which owns a percentage of Pacquiao's promotional contract, is seeking damages "in the range of $3 million to $5 million, plus attorneys fees," Judd Burstein, the attorney representing Golden Boy, told ESPN.com, adding that because the suit was filed under the Racketeer Influenced and Corrupt Organizations Act -- the RICO statute -- damages would be tripled if Golden Boy wins a judgment.

Burstein declined to go into more detail about the suit.

"The complaint speaks for itself and we have no further comment," he said.

When provided details about the suit, Arum, who had not seen it yet, told ESPN.com, "Of course, it's not true. The lawyers will handle it. I can't be bothered with that. ... Our attorneys said it's a desperate act on Golden Boy's part and Top Rank is going to end up getting attorneys fees."

Golden Boy contends that it is owed millions of dollars from Pacquiao's 2008 lightweight title bout against David Diaz, his 2009 welterweight title bout against Miguel Cotto and his March welterweight title defense against Joshua Clottey.

Golden Boy alleges numerous instances in which Top Rank failed to report revenue from the fights and falsely inflated expenses. It also contends it is concerned that Top Rank will use similar accounting for Pacquiao's fight with Antonio Margarito on Nov. 13, which Arum recently began promoting.

On the Diaz bout, for example, the suit claims that upon Arum's direction, Lopez to sent 16 accountings to Golden Boy between August 2008 and July 2010 "which falsely claim that TR received no income from sponsorships even though pictures of the Diaz bout show that Tecate beer, Affliction [a clothing company] and a company known as Smart were featured sponsors."

The suit said that sponsorships from Pacquiao's fight with Hatton generated $630,000 and $870,000 from the Oscar De La Hoya fight, so it is "inconceivable that Tecate, Affliction and Smart did not pay hundreds of thousands of dollars for the opportunity to sponsor the Diaz bout."

The suit claims "none of Lopez's [alleged] acts of fraud would have been committed absent Arum's knowledge, direction and control."

Further, Golden Boy said it does not know whether Top Rank is also "seeking to defraud Pacquiao and his promotional company, M-P Promotions, or whether they are participating in the fraud and are receiving payments based upon the unreported sponsorship income."

Among various accounting issues that Golden Boy alleges in the Cotto fight is that Top Rank purposefully misreported "at least $6 million available to distribute" to Golden Boy and Top Rank by falsely reporting Pacquiao's purse. Golden Boy says it received accountings from the fight saying Pacquiao's purse was $15 million, but that the bout agreement on file with the Nevada State Athletic Commission, which oversaw the fight in Las Vegas, lists Pacquiao's purse as $7.5 million, raising the question of where the other $7.5 million went.

In addition, the suit contends that Top Rank knowingly inflated the costs of the undercard by $800,000 "in an effort to show less profit for the bout, thereby fraudulently reducing the amount of money due to GBP."

There are similar allegations related to the Clottey fight, including more alleged deception on the amount of money generated by sponsorships, which were listed as $66,300, and alleged inflation of travel expenses, sanction fees and training expenses for the fighters, all done in order to reduce the reported profit on the event.

Golden Boy claims the collection of the various accounting issues represent a purposeful "pattern of racketeering activity."

Golden Boy and Top Rank have been at odds for years over Pacquiao, who once signed with both companies virtually simultaneously in late 2006. Pacquiao eventually pledged his loyalty to Top Rank, but the damage was done.

Golden Boy sued Top Rank, with which it was already embroiled in various lawsuits. The bad blood between Arum and Golden Boy's Richard Schaefer and De La Hoya, Arum's former fighter, led to a cold war between the companies. They refused to do business with each other, denying fight fans a number of marquee matches between their fighters.

But with the legal fees mounting and unrelenting public pressure, the companies reached a global settlement on their lawsuits in June 2007.

Under the settlement brokered by mediator Daniel Weinstein, a retired federal judge, Top Rank retained Pacquiao's promotional rights with Golden Boy due to receive a percentage of Top Rank's profits each time he fought.

The settlement also cleared the way for the companies to make several major fights together. Among them were Pacquiao against Golden Boy fighters Marco Antonio Barrera, Juan Manuel Marquez, De La Hoya and Hatton. Under the settlement, Golden Boy was the lead promoter when Pacquiao faced a Golden Boy fighter, so it was responsible for providing Top Rank with the accounting for each event.

However, when Pacquiao fought Diaz, Cotto and Clottey -- all Top Rank-promoted fighters -- Golden Boy had to rely on Top Rank's accounting for each bout.

Arum said the companies are still bound by Weinstein's order and that Golden Boy should bring any concerns before him.

"As far as I'm concerned, this is a matter for the mediator," Arum said of Weinstein, who tried unsuccessfully to mediate a deal between Top Rank and Golden Boy in January that would have resulted in a Pacquiao-Floyd Mayweather bout.

"This is frivolous," Arum said. "We signed an agreement four years ago agreeing to binding arbitration on issues like this. They're going to end up paying us substantial legal fees. You can't bring an action like this if you've agreed to binding arbitration. They could have filed the complaint with Daniel Weinstein. They can't do this in a federal court. It will be thrown out. They filed this complaint because if they had done it in arbitration, it would have been confidential. So this is the way they think they can go around the confidentially provision in the agreement. They know it will be dismissed and they will pay a big price for that.

"Their motivation is to spread this filth in public instead of going to the arbitrator."

Dan Rafael is the boxing writer for ESPN.com. Follow him on Twitter @danrafaelespn.

Source: sports.espn.go.com

King Pacquiao rolls on -- 8CountNews

By Brad Cooney, 8CountNews.com

He's an actor, a singer, a guitar player, an elected congressman, and oh yea, a seven division world champion. Not too bad for a kid that used to sell cigarette's on the streets of General Santos City for a living. Pacquiao has risen from nothing, to the top of the world and he's done it through very hard work and dedication. Now that he is on the top, there are a few folks out there who want to knock him off. Pacquiao is the king of the hill, and until someone can step up and knock him off he will stay king of the hill.

Retro Arcade Pac-Man (and more) Plug & Play Video TV GameThe road to the top has not been all easy. Manny had to square off against Mexico's toughest warriors, IE Morales, Barrera, Marquez, and Mexican American Oscar De La Hoya. Instead of praising his achievements his critics look for negativity and write about that. They will write that De La Hoya was a shot fighter instead of praising Manny for soundly defeating him. They will write that Manny uses steroids, instead of praising him for his hard work in the gym. Pacquiao just keeps on rolling.

When Pacquiao ran for office the first time he was soundly defeated. He showed the true sign of a champion and instead of giving up he ran again. Victory was at hand with his second attempt, and now he is an elected Congressman. I find it absolutely amazing how anyone can bad mouth this guy. The people that bad mouth Manny Pacquiao are nothing but grade A losers. One of my favorite sayings, and one that I live by is "success breeds hate" and it's so true. When someone succeeds, that's when the envious attack. Those who hate want to be at the level of those they are hating on. When people are jealous, they can't stand the fact that they have not succeeded themselves, so they attack those who have.

Pacquiao has done nothing but succeed for many years now. He's one of the nicest guys you'll ever meet, and he has not let his fame and money get to his head. Whenever I read an article from someone that remotely hates on Manny Pacquiao, I immediately shake my head and say, 'another hater, success breeds hate, and haters are a dime a dozen.'

Pacquiao keeps on rolling. He fights again in November against Antonio Margarito, a fight that most insiders say he will win. Floyd Mayweather Jr is still on his radar, but the blip isn't as bright as it used to be. Manny doesn't need Floyd Mayweather Jr. He can retire anytime he wants to at this point and have enough money for several Pacquiao family generations. He's a calm and collective type guy outside of the ring, and a two handed wrecking machine inside of the ring. He keeps on rolling, and the Pacquiao train doesn't look like it will stop anytime soon.

Source: 8countnews.com

Floyd Mayweather JR & Manny Pacquiao Vs Antonio Margarito: The Shane Mosley Factor -- Ringside Report

By Geno McGahee, Ringside Report

I had mentioned that should Shane Mosley come up short against Sergio Mora, that the show would be over, but he ended up with a draw in a horrible fight, but in the promotion’s defense, it was basically as advertised. Anyone that knows the careers of either man, knew that this was an ugly show from the announcement, but the consensus was that Mosley would win.

Sergio Mora is a good fighter. He is not a great fighter and would be obliterated by a prime Mosley, and even a slightly over the hill Mosley would have gotten things done, but struggling to get a draw now sheds even more light on what we’re dealing with as we look at the big picture.

Shaq vs. Sugar Shane Mosley/Penn & Teller [HD]Mosley was shot well before this fight and well before the Antonio Margarito fight. He has been steadily declining since his back to back defeats to Vernon Forrest. His name has kept him in the spotlight and to his credit, his pure talent and grit have kept him on top.

The signs that he was a spent force came around 2006 when he squared off with an equally shot Fernando Vargas. Vargas fought evenly until he was stopped in round 10. They would rematch and a left hook by Mosley would end it in round 6. The word was out that Mosley was no longer what he once was. His unspectacular performances mixed with admitted steroid use was pulling him away from the big payday showdowns.

As Miguel Cotto became one of the hottest tickets in boxing, his management elected to hand pick Mosley as the opponent for a 2007 showdown. It was a measured risk. Cotto looked terrific, Mosley looked mediocre, but style-wise, an older veteran with grit does well with an aggressor like Cotto or Margarito. Their reflexes aren’t nearly as important as they would be when they face off against a guy like Floyd Mayweather, JR., or even Sergio Mora.

Cotto walked away with a win and Mosley moved on with a career rejuvenated. More indications of his status in the sport came with a 12 round struggle against the limited power-puncher, Ricardo Mayorga. Felix Trinidad and Oscar De La Hoya had zero problems sending Mayorga into dreamland, but Mosley nearly lost, even on the cards going into the final round. A final second left hook gave him the victory and the chance to face Antonio Margarito, fresh off his TKO win over Miguel Cotto.

The Illusion …

Antonio Margarito built his career as the working man’s sort of fighter. A tough guy with a great work ethic, beating his opponents with his will as well as his aggression, but it was all a great big lie. He had been loading his gloves for years and when he was caught and wasn’t able to pack his hand wraps with plaster of Paris, he became the mediocrity that he is, and Mosley, even when shot, is not a mediocrity. He had no problem beating up Margarito because without the plaster, he was a mediocre puncher with limited defense that just kept running into punches.

The perception saved Mosley’s career and perception is everything. Margarito beat Cotto, so Mosley must be on top of his game, especially to dominate and destroy a man that could out-heart a fighter like Cotto. The truth is that Cotto has all the heart in the world and was taking punch after loaded punch, getting hit with bricks essentially before submitting.

The victory by Mosley wasn’t as impressive as first thought. Margarito was exposed, period. Mosley’s victory was that his camp found out the secret weapon that made his opponent so successful and took it away, proving that he isn’t much without it.

Floyd Mayweather, JR., has been called a lot of names by the fans, but nobody can argue his intelligence. He knows how to pick the right fight at the right time. Mosley would not have been on his radar when he was in his prime and tearing up boxing. Floyd waited for the storm to pass and take on Sugar Shane when he didn’t have anything left, and now we have some more perception: Floyd dominated Mosley, that dominated Margarito, that dominated Cotto. Mayweather must be the best in the game when you look at it like that.

As Sergio Mora pulled a draw with Shane, there is no question that Mosley has been losing his fight with father time and the safe opponent became a very tough one. Mosley went into the Mayweather, JR., fight with nothing and came out with the same. Where does that put Floyd in the game?

Floyd’s two victories in the comeback trail over Juan Manuel Marquez and Shane Mosley were smart fights from a business standpoint but tell us little about what “Money” truly has left. He obviously has his reflexes, but he had two opponents that were of very little risk. Marquez, a counter puncher, was forced to be the aggressor because of the size differential, while Mosley was a dead man walking. Manny Pacquiao is a monster inside the ring and would not go so easily as the other two have done.

If the wins over Marquez and Mosley are far superior on paper then in actuality, and they are, then what does the Mosely win over Margarito tell us about the upcoming shot at Manny Pacquiao?

The Mismatch…

I have seen the pictures of Margarito in training, getting hit in the stomach with poles and all that junk, but if the playing field is level, and I’m hoping that it is, he’s got no chance to upset Pacquiao. Peter McNeeley trained incredibly hard for Mike Tyson…

The Mosley that Mora and Mayweather faced is the same one that Margarito faced and you see what happened to him. If Shane has somebody in front of him and they cannot punch him hard enough to concern him, he can still perform and win. Margarito walked into a tank with a flyswatter, and was knocked senseless. Now he’s going after something far more devastating in Manny Pacquiao.

Pacquiao is going to have a field day with Margarito, perhaps stopping him in the very first round. Without the plaster of Paris, he isn’t as confident, obviously, and he doesn’t have the punching power to concern Pacquiao. Manny stood in front of a real puncher in Miguel Cotto and came back to destroy him without wobbling or folding. Why would a slower and less powerful guy with questionable defense pose a threat? Trust me on this one, Margarito loses badly by TKO and then laughs all the way to the bank from all the suckers that paid for this atrocity on pay per view.

What does Mosley’s draw with Mora tell us about Mayweather – Pacquiao?

The 20 or 30 or 50 million dollar question…whatever the Mayweather/Pacquiao fight would generate if it were signed and went through. The fact that it hasn’t gone through and some strange things have happened in the life of Mayweather, have led to more and more speculation and people jumping from one side of the fence to the other as to who they think will win.

The question that it raises is this: Is Floyd Mayweather properly prepared for Manny Pacquiao?

Pacquiao has been taking on the better opposition lately and has been more active, cementing his place at the top of the sport. While Floyd picks and chooses his spots, Manny fights and is as good as he’s ever been. Did Mosley or Marquez really prepare him for a guy like Pacquiao? The answer is no. Neither man is an explosive puncher and neither is an aggressor. We honestly have to say that Mayweather, in his comeback, has beaten up a much smaller counter-puncher in Marquez and a one time great turned zombie with gloves in Mosley. Pacquiao will be his truth machine.

There is a lot of doubt that the fight will ever take place and it is really up to Mayweather. You can’t lose if you don’t fight him and that may be the safest route, but can the big ego of Floyd handle the growing belief that he is afraid to fight Manny? Mike Tyson once said that he wanted to fight the all time greats in boxing just to see if he could beat them…not caring if he lost…he just wanted to know. Does Floyd have this curiosity? Is it all business or does he have the competitive need to know.

I am getting the impression that Floyd wants Manny to lose to somebody else and that will give him victory via default. Muhammad Ali begged George Foreman to return to the ring and take out Ken Norton again so he wouldn’t have to face him because Norton gave him all sorts of trouble. He would then give Foreman a rematch. Foreman declined, but it’s the same thought here. Margarito beats Pacquiao somehow…maybe lightning strikes him during the fight. Then Floyd quickly pounces, takes on Margarito and wins and the people lean towards him as the best in the game and he did it all without facing Pacquiao.

We now play the waiting game. We wait for Floyd Mayweather, JR., to get his act cleaned up and get out of his legal troubles and I’m certain he will. He may have to write a big check to his ex, but the charges will be dropped in the near future. Manny will demolish Margarito and then we will see if the third time will be the charm and that the two best in the game will finally meet up. It’s a long shot, but boxing is about long shots.

Source: ringsidereport.com

Pacquiao shakes off rust -- PhilBoxing

By Eddie Alinea, PhilBoxing.com

After only two days on the ring and 15 rounds of doing the mitts, handlers of Manny Pacquiao had pronounced the seven-division world boxing champion ready to shift to the technical aspect of his preparations for his coming super-welterweight championship fight against Mexican Antonio Margarito.

Day 2 of Pacquiao’s training at the Elorde boxing gym in Del Monte in Quezon City produced results that even chief trainer Freddie Roach and assistant Buboy Fernandez were surprised.

So amazed was Roach, in fact, that he said the one-week session before going up to Baguio City, where Team Pacquiao is pitching camp, could proceed this weekend yet to mapping out game plan this early of the planned eight-week build up program.

She Still Lacks CoordinationPlan was to proceed to the Pines City this afternoon or tomorrow, depending on what the 31-years-old reigning World Boxing Organization welterweight champion’s wish, although Roach said the team can leave any day provided his ward should be in Baguio not later than Sunday.

“He showed a lot of improvement compared to yesterday and I believe we can proceed to the second phase of preparations before the week ends,” Roach, Pacquiao’s trainer of nine years bared.

Except for some defects on coordination between his sight, on the one hand, and his feet and hands, on the other, which Roach and Fernandez noticed after Pacquiao did the double end ball, everything went the form chart in the other departments of game fight.

Building up the stamina and recovering the speed lost due to the long layoff since he last saw action against Joshua Clottey last March looked well on track, according to Fernandez, Pacquiao’s boyhood friend-turned trainer.

“Kailangan kasing malakas ang stamina bago kami umakyat ng Baguio. Kasi magbabago ang klima pagdating doon. Mainit ditto sa Maynila at malamig doon. Kapag nabigla, baka kapitan ng sakit,” the heavy-built Fernandez explained.

“Yang namang lack of coordination sa paa, kamay at mata, madali naman naming nakita kaya pinahinto ni Freddie sandali bago lumipat sa speed ball,” he added.

Roach agreed saying this early, Pacquiao has to learn how to use his hands, feet and eyes in order to distance himself from Margarito, a known aggressive fighter who banks on his punching power and forward stance against his opponents.

While Monday’s and yesterday’s session’s as well as the remainder of the week’s will be concentrated on shadow-boxing, punching mitts, and balls, next week, starting Tuesday, Roach disclosed, will start the more tedious sparring initially against two up-and-coming fighters he brought along with him in Manila.

They are junior welterweight Glen Tapia of the Dominican Republic and super-welterweight Michael Medina of Mexico.

Asked what benefits Pacquiao could get from Tapia, who owns a perfect 7-0 win-loss record in his early pro-career, five of them knockouts, and Medina, Roach simply retorted “all that many wants.”

He clarified later by saying: Tapia is very young, strong and tall like Margarito, while Medina is similarly powerful and at the same time aggressive whose style of fighting is also similar to Margarito.”

Two other sparring partner will be arriving Sunday – long-time partner Julio Cesar Chavez and Vanes Martirosyan.

Like the opening day session, relatively big crowd was on hand to see the country’s favorite son worked out, including his fellow Congressman JV Ejercito of San Juan City and former Manila Rep. Miles Roces.

(Eddie Alinea is the sports editor of sportsmanila.net)

Source: philboxing.com