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Arum: Haymon is Clever, But Pissed Most of The PBC Money Away

By Carlos Boogs

Top Rank's CEO Bob Arum had a long-running feud with manager/adviser Al Haymon.

Earlier this year, the two of them settled their differences and their legal battle. Arum has sued Haymon over his Premier Boxing Champions business model, claiming the powerful businessman was attempting to create a monopoly.

Haymon was able to raise a large amount of money and then used those funds to secure exclusive time-buy agreements with several television outlets like Fox/Fox Sports 1, ESPN/ABC, Spike TV, Bounce TV, CBS/CBS Sports and NBC/NBC Sports.

Once they settled the lawsuit, Arum and Haymon became friendly and are now open to the possibility of doing business together.

arum-haymon

Arum respects Haymon and believes that he's a very smart businessman, but also feels that his PBC business model was poorly run and led to an extreme loss of money.

"Al Haymon is a misunderstood guy. He's a very, very clever. Somehow he got these mutual funds in Kansas to come up with $500 million dollars, most of which he's pissed away. He really pissed it away," Arum told The Forward Podcast.

"His idea was to come in with a lot of money, and that's a lot of money, and make deals with all the networks, exclusive deals, to cut out all of the other promoters.. put his product on and pay the networks for the time and then pay the fighters. It was something that made no sense."

"The idea would be that he would run everybody else out of business and then he could charge the networks what he wanted. But it was run so poorly, the ratings were so bad, that he's never going to be able to go the networks and get paid for the product. That's really hurting us, because we have a good product and then when we go to a network [and they don't want to buy the product]."

User Comments and Feedback
Comment by HeroBando on 09-03-2016

[QUOTE=Ake-Dawg;16999941]Why would Arum sue Haymon and PBC over a business venture that is poorly run and destined to fail? If PBC is a bad idea and squandering money, why was Arum and GBP trying to stop it? Also, what source…

Comment by Sugar Adam Ali on 09-02-2016

[QUOTE=KeyboardWarrior;17001953]The point is Arum at his best *****s all over Haymon at his best historically as far as product is concerned. Period.[/QUOTE] You talking about the past,, not current... Albert pujols craps all over mike trout resume-wise,,, has no bearing…

Comment by KeyboardWarrior on 09-02-2016

[QUOTE=Sugar Adam Ali;16999668]Lmao.... Resume has nothing to do with the current product.. One is the past and one is the present.. By your logic roy jones should be the top fighter in the world,, just look at his resume, who…

Comment by Jsmooth9876 on 09-02-2016

[QUOTE=Kigali;17000131]Who are you to say who is overpaid?????? That's peasant mentality GGG isn't with Haymon and his entire career is one big mismatch....but ya'll ain't hating on K2. K2 low balls fighters...that's why the so called top fighters aren't fighting…

Comment by Catrin on 09-02-2016

IF HE DID PISSED the 500 MILL AWAY he at least try to make things happen! BOB would have kept %70 and give crums to his fighters!

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