Lawsuit Over Roy Jones-Dawid Kostecki Will Continue
By Rick Reeno
BoxingScene.com has obtained a recent order which indicates that a lawsuit filed by Square Ring Inc. against 12 Knockout Promotions in a Florida federal court - will continue. According to the complaint, Square Ring Inc. was not properly compensated for the failed cruiserweight fight between Jones and Dawid Kostecki - and Square Ring claims in their papers that 12 Knockout Promotions breached the agreement with their failure to deliver Kostecki as promised.
Square Ring is Jones' promotional company, although Jones is not named a direct plaintiff. Square Ring's CEO, respected boxing attorney John Wirt, is handling the lawsuit.
Veteran boxing attorney Leon Margules filed a motion to dismiss the action, but a Federal judge did not agree with his arguments and set down a decision on Friday to allow the legal battle to play.
The bout, scheduled to take place on June 30, 2012 in Poland, fell apart when Kostecki was arrested in order to begin serving a prison sentence for a prior conviction of running a prostitution ring.
When the two parties negotiated their deal, 12 Knockout Promotions had assured Square Ring that Kostecki would not begin serving the sentence until AFTER the planned June fight. Following Kostecki's arrest on June 19th, 12 Knockout Promotions advised Square Ring that Kostecki's attorney would secure a temporary five day release to make the fight happen - and said their chances were at "90%" to make that happen. Kostecki was never released and his final request was denied on the morning of the weigh-in.
Jones moved forward with the event, against late replacement Pawel Glazewski, who moved up from light heavyweight. Jones won a split decision.
According to contract, Jones was promised to be paid $45,000 United States dollars with Square Ring receiving 81.66% of the fight night profits. Square Ring is claiming a loss in excess of $1 million dollars due to 12 Knockout Promotions' failure to deliver Kostecki.
This can be solved....as soon as Kostecki gets out of jail...there should be a mandatory bout between he and Jones. Jones gets 1.5 million for what supposed to have been his previous fight with Kostecki as soon as he does…Comment by Tyrone Biggums! on 10-06-2012
Roy Jones is ****ing broke, i'm telling you. Up to his eyeballs in debtComment by pit on 10-06-2012
[QUOTE=liuj88;12581770]Jones himself may have been due "only" $45,000, but Square Ring, *his* company, was going to get the vast majority of the profits. He may have structured the deal this way for tax purposes. Besides, a million dollars is not…Comment by larryxxx.... on 10-06-2012
Hold up Roy is fighting for 45,000 and his promotional company is taking 81 percent of that???wtf Roy?Comment by liuj88 on 10-06-2012
[QUOTE=BIGLEX;12581351]Poor Jones, fighting for peanuts lol[/QUOTE] Jones himself may have been due "only" $45,000, but Square Ring, *his* company, was going to get the vast majority of the profits. He may have structured the deal this way for tax purposes.…Post a Comment - View More User Comments (7)