By Lem Satterfield
Top Rank CEO Bob Arum tore into his promotional rival, Golden Boy Promotions President Oscar De La Hoya, over his recent comments regarding the elimination of every promoter in boxing - other than Golden Boy. De La Hoya feels that boxing would be in a much better position if only one core promotional company is running the fights and major televison dates, and that company should be Golden Boy.
"We need to sign all the talent and get all the TV dates. Then you can have your own agenda and have a schedule for the fans and the sport," said De La Hoya. "You can do a monthly pay per view, a bi-weekly HBO fight, you can have the best fighters fight each other. When you have five or six promoters, it's very difficult."
Arum doesn't agree with De La Hoya's commentary.
"There's one word to describe Oscar, and his commentary, and that's pathetic. I mean, this guy is really so dumb. Anybody that pays any attention to what he says has to be stupid," said Arum.
"That's all that I have to say about it. I mean, I'm not going to give a rebuttal to it," said Arum. "It's preposterous. What do you do, get angry at it? He's just simply pathetic. That's my crituque on this, that it's pathetic."
The tension between the two companies, Top Rank and Golden Boy, has been raised to an all-time level in the last few weeks. On Sept. 21, Golden Boy Promotions filed a lawsuit in the U.S. District Court of Nevada against Arum and Top Rank CFO, David Lopez, accusing the duo of racketeering and fraud and seeking damages in the range of $3 to $5 million plus attorneys fees related to money generated from three Pacquiao fights.
Golden Boy Promotions owns a percentage of Pacquiao's promotional contract in accordance with a settlement between the two companies in 2007, and 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.
Lem Satterfield is the news editor for BoxingScene.com and the boxing editor for AOL FanHouse. To read more from Lem Satterfield, go to AOL FanHouse by Clicking Here.