by David P. Greisman
The terms of the agreement that helped pave the way for Al Haymon to launch his “Premier Boxing Champions” may also be what helps decide the lawsuit Golden Boy Promotions has filed against the powerful boxing adviser and manager.
Golden Boy filed its civil suit against Haymon, the investment firms backing PBC, and others in May, alleging unfair competition and a violation of the Sherman Antitrust Act.
Haymon, via his legal team, wrote earlier this week that their case shouldn’t be decided in the courtroom but rather via an arbitrator, according to court documents obtained by BoxingScene.com.
That, they say, is because of a clause in the agreement between Golden Boy head Oscar De La Hoya, Haymon and former Golden Boy CEO Richard Schaefer from December 2014. Golden Boy wanted Schaefer to pay $50 million in damages. That case went to arbitration and led to a confidential deal and, ultimately, to Haymon paying money to Golden Boy to end their business relationship.
The parties also agreed at the time that “any and all disputed arising out of, relating to, or regarding this agreement … shall be exclusively and solely resolved” via a specified arbitrator.
Haymon’s argument is that Golden Boy tried to circumvent that agreement by basing its lawsuit on “acts of the defendants commencing on January 1, 2015,” which is a couple of weeks after the settlement agreement. That date, per the filing, was “out of thin air” and also included other defendants so as to ensure the case went to court instead of to arbitration.
Yet Haymon has already begun the arbitration process for this case — and started it even before the case was officially filed. After Sports Illustrated reported in late April that it had seen a draft of the lawsuit, Haymon’s team contacted the arbitrator. The arbitrator sought to decide whether he had jurisdiction in the case and held a conference call on June 1. The arbitrator then ordered for both sides to file their arguments — including on whether last year’s settlement agreement means the federal lawsuit can’t go forward — and for a hearing to be held on July 29.
Because of this arbitration process being under way, Haymon’s team has filed a stay, seeking for the civil lawsuit to be put on hold until the arbitrator makes his decision.
The motion for a stay in the case is scheduled for an Aug. 10 hearing.
Meanwhile, Golden Boy has dismissed its suit without prejudice against the investment companies. That means it reserves the right to bring a case back against them in the future if it so chooses.
Another lawsuit against Haymon and his investors, this one filed by promoter Top Rank, was filed earlier this month.
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