By Rick Reeno
Multiple sources have confirmed to BoxingScene.com that former champion Yuriorkis Gamboa (21-0, 16KOs), and Las Vegas based promotional firm Top Rank, have settled their legal dispute.
In March, Top Rank filed a federal lawsuit in the state of Nevada against Gamboa. The promotional company was seeking to recover damages due to an alleged "breach of contract" by Gamboa.Gamboa, moving up by two weight divisions, was scheduled to fight Brandon Rios (29-0-1, 22KOs) in an HBO televised main event on April 14th at the Mandalay Bay in Las Vegas. However, Gamboa no-showed press conferences in Miami and Los Angeles - and he refused to move forward with the fight, citing differences with his promoters Top Rank and Ahmet Oner of Arena Box.
As a result of Gamboa's position, a deal was finalized for Rios to face WBA interim-lightweight champion Richard Abril (17-2-1, 8KOs). According to Top Rank's legal papers, they satisfied several of Gamboa's demands - including monetary advances totaling $70,000, the scheduling of a press conference in his hometown of Miami, and agreeing to provide the Cuban boxer with four times his contract minimum to fight Rios.
Earlier today, Top Rank filed a stipulation to dismiss the case against Gamboa. According to the lawyers for both sides, a "satisfactory" resolution was reached. However, there is a confidentiality agreement and because of that neither side is disclosing the terms of the settlement.
The big question is Gamboa's contractual status. According to various sources with knowledge of the details, Gamboa and Top Rank have agreed to go their separate ways. Reportedly, Gamboa bought out his contract for an undisclosed sum but I've heard from sources connected with the fighter that it didn't come cheap.
Based on Gamboa's close relationship with Floyd Mayweather Jr., I would expect him to sign a contract with Mayweather Promotions.
Nothing has been officially confirmed with Top Rank or Gamboa. But, BoxingScene was told that Top Rank will make an official statement regarding Gamboa on Friday.