What's the main reason why Bob Arum won't do business with GBP

Arum's been promoting boxing since before Oscar was even born. Last year just the 2 fight involving Pacquiao sold more than all of GBP's PPV's combined. Top Rank is in a league of their own. GBP doesn't even deserve to be mentioned in the same sentence let alone co-promote on a Top Rank card. And this ain't about greed. Arum has more money than anyone in the sport right now and Cotto, Marquez, Mosley, Bradley, Martinez etc all got career high paydays when they fought on Top Rank cards. If he was greedy he would be paying those guys peanuts like GBP does like when Ortiz got 2.5 mill to fight floyd when Bradley who is a even smaller draw got 5 mill to fight Pac if he wasnt geedy he woulnt be fuking pacquiao in the azz, remember visionqwest? lmao! dont you remember this: On May 18, 2012 VisionQwest Accountancy Group filed a federal lawsuit against boxing promoter Bob Arum and Top Rank, Inc., as well as Michael Koncz who acts as the Business Advisor of boxer Manny "Pacman" Pacquiao for interfering with a contractual relationship and defamation.* VisionQwest contracted with Mr. Pacquiao to perform various tax and accounting functions, and to review the financial records prepared by Top Rank on each fight from 2005 and all forward fights through a co-promotion agreement between Top Rank and Pacquiao.* VisionQwest was abruptly terminated by Pacquiao based on interference tactics and false allegations made by Michael Koncz, Bob Arum, and Top Rank against VisionQwest.* The VisionQwest complaint specifically alleges that Bob Arum, Top Rank, Inc., Michael Koncz, and other Defendants: intentionally and negligently caused interference with the contract and with the contractual relationship between VisionQwest and Pacquiao, as well as VisionQwest's prospective economic relations; violated unfair business practices; and defamed VisionQwest.Over the years of 2010 and 2011 VisionQwest spent hours going over contracts and financial documentation prepared by Top Rank.* The firm, after careful consideration and review notified their client that the documents being prepared and presented by Top Rank were unreliable.* The firm presented the findings to Mr. Pacquiao, as well as other tax matters.* Mr. Pacquiao, upset by the findings, entered into a new contract with VisionQwest, to investigate his contracts with Top Rank and evaluate whether he was owed funds.* and this: Glendale, CA, September 20, 2011: Prior to 2010, Manny Pacquiao ("Manny") and MP Promotions, USA, Inc. ("MP") never had a full time accountant or a bookkeeper, and did not have a full time accounting firm. Michael Koncz is the business advisor of both Manny and MP and he has no accounting degrees or training, yet he is in charge of their finances. For every year, before Manny and MP hired VQ for their accounting needs, they would hire different accountants who simply plugged in numbers supplied by Michael Koncz into the taxation forms and filed them with the IRS, without any backup or reconciliation. Due to this mode of operation on the part of Michael Koncz, Manny and MP had audits issued against them for at least two prior years (2006, 2007). VQ's management accepted the representation of Manny and MP. Contracts were entered into for the following issues: 1.Personal income and Corporate Tax returns needed to be filed. 2.Tax Audits had been issued as well as tax levies which needed immediate attention. 3.A complete overhaul of Manny and MP's financial records and bookkeeping needed to be implemented because there were no records other than six boxes of receipts, hand written notes, and e-mails which were not kept in any order with no designations. 4.Manny and MP did not have any important documents in their possession, like bout contracts, bank statements, bout proceed distributions, endorsement contracts, promoter contracts, co-promoter contracts, property ownership records, and many other important documents which would enable VQ's staff to perform their duties. The parties entered into two (2) accounting service contracts which detailed the work and fees related to the services to be performed. VQ has licenses and is accredited for any service offered or provided to Manny and MP under the contracts. Manny signed a Power of attorney on behalf of VQ because it was absolutely necessary to enable VQ's staff to obtain the necessary documents as outlined above. All accounting contracts and Power of Attorneys were in accordance to accounting requirements to represent the client(s) and bank needs to gather and respond to documentation. At all times, Manny and MP were well protected via the legal instruments entered into. You have to understand; Manny is never available and was almost non-existent during the time that VQ was representing both him and his company. It would have been impossible for VQ to conduct accounting and tax audit work without the power of attorney nor would the banks have given VQ any of the documents that where needed. Bank statements are needed to reconcile the in and out of funds for accounting (to record income and expenses) and to reconcile to the bout contracts. Again, Manny would not be bothered and Koncz was generally not available and mostly useless. Manny also signed a power of attorney for use with the IRS, which again was absolutely necessary for the audits and required by the IRS. Finally, with regards to the contracts, Manny and MP signed a contingency agreement with VQ which authorized VQ to pursue any monies which were missing or owed to them. VQ would not have been able to perform this specific task without the power of attorneys issued to VQ. The main reason why VQ was hired to look into the missing money was because Manny believed that his fight promoter was not paying him his fair share. During the course of his contractual relationship with Top Rank, Manny had never had anyone review the bout Income Statements generated by Top Rank. The contracts gave Manny the right to review these income statements and he had chosen not to do so prior to hiring VQ. MANNY AND MP HAVE BUSINESS ADVISORS, AND ATTORNEYS WHO REVIEW EVERYTHING THEY SIGN, ESPECIALLY CONTRACTS, THEY ALL ACKNOWLEDGED AND APPROVED THE CONTRACTS AND POWER OF ATTORNEYS THAT WHERE SIGNED BY MANNY. Manny and Mike Koncz both requested VQ not to charge him upfront for our fees and costs because they claimed that there was a lack of funds. We agreed that VQ would be paid from the funds from any tax refund or fight advances that Manny may receive, any available funds. Please understand, Manny was being audited and levies had been instituted against him and MP. VQ and its staff knew that Manny may not have been entitled to a refund or that it may take a very long time due to ongoing tax audits and significant tax issues; however Manny and MP needed our help so we agreed to be paid once a tax refund was received or from bout advances received. We started compiling records and building files for Manny and MP. We were able to get the audits under control and to stop the seizure and levies taking place before we took over. However, to be able to completely do our job, we needed for Manny's boxing promoter, Top Rank, Inc. to provide a lot of documents that where in their possession. From the beginning of the review and examination in late 2010 of Top Rank Bout income statements, Top Rank, Inc. and its majority owner Bob Arum provided us with minor documentation, then in 2011 became very hard to work with and would not respond to requests for documentation and answers to questions. From the documents that were furnished, VQ and its staff were able to decipher various accounting issues and we were very concerned that there were considerable un-answered questions regarding the recording of revenue (through a verification processes with outside companies) and their expenses. We were also able to indentify ridiculous amounts of money being paid to Michael Koncz and the fact that Michael Koncz not only worked for Manny and MP but Top Rank, Inc. as well. In the last months of our representation of Manny and MP, we continuously requested documents from Top Rank, Inc. and we were denied at every instance. At a certain point, Top Rank, Inc. was no longer responding to our requests. We were able to obtain some documents from the Nevada Athletic Commission to verify inconsistencies in reporting and documentation. At this point of time, roughly in mid 2011, our relationship with Top Rank, Inc. and Michael Koncz was non-existent. The IRS issued a refund check dated June 24, 2011. VQ's senior staff flew to and met with Manny in the Philippines and delivered to him the tax refund check and they discussed their findings pertaining to Top Rank, Inc. and Michael Koncz. Manny was distraught and after reviewing the documentation, Manny agreed to pursue Top Rank, Inc. as well as Michael Koncz. However, Manny requested that no legal action take place until Manny received his advance for his upcoming fight in November 2011 from Top Rank, Inc. and to take no action until September 1, 2011. VQ's staff requested payment and again presented Manny with billing for their services that had been performed on his behalf and Manny stated that he would deposit the check and then wire the funds. Since the last meeting with Manny where he received his check, VQ has not received any payment for any of their accounting and tax audit work performed, nor has Manny even paid back money he and Mike Koncz borrowed from VQ to help purchase a home for Mike Koncz in Orange County, California. its incredible you still defend the old fuks azz, do you still call him uncle bob" ? lmao!!! :D

Because illiterate Pac stains and their ilk continue to support him as he f*cks the sport over? If you can keep making money doing something...why stop?

Arum's been promoting boxing since before Oscar was even born. Last year just the 2 fight involving Pacquiao sold more than all of GBP's PPV's combined. Top Rank is in a league of their own. GBP doesn't even deserve to be mentioned in the same sentence let alone co-promote on a Top Rank card. And this ain't about greed. Arum has more money than anyone in the sport right now and Cotto, Marquez, Mosley, Bradley, Martinez etc all got career high paydays when they fought on Top Rank cards. If he was greedy he would be paying those guys peanuts like GBP does like when Ortiz got 2.5 mill to fight floyd when Bradley who is a even smaller draw got 5 mill to fight Pac Mosley got 7 mil for Mayweather, 5 mil for Pac Cotto got 8 mil for Mayweather, 4 mil for Pac

All of the above.

In house fights create him a lot more money taking a share from both fighters instead of one.

Arum's been promoting boxing since before Oscar was even born. Last year just the 2 fight involving Pacquiao sold more than all of GBP's PPV's combined. Top Rank is in a league of their own. GBP doesn't even deserve to be mentioned in the same sentence let alone co-promote on a Top Rank card. And this ain't about greed. Arum has more money than anyone in the sport right now and Cotto, Marquez, Mosley, Bradley, Martinez etc all got career high paydays when they fought on Top Rank cards. If he was greedy he would be paying those guys peanuts like GBP does like when Ortiz got 2.5 mill to fight floyd when Bradley who is a even smaller draw got 5 mill to fight Pac

Arum won't do business with anyone unless he knows 100% his fighter will win, otherwise the other fighter would have to sign on to toprank.

Bob Arum is worth 200 million. He is 80 years old. Being very conservative, lets assume he died at 90 and didnt make a single dime from today on or from interest. He could spend $55,000 A DAY for the rest of his life and STILL not go bankrupt.

Where is the option for voting all of the above? Because all of those choices fit the bill of why Arum won't do business with GBP.

With all these great figures in boxing dying lately..........Arum is still kicking :banghead:

All of the above He also wants to save face for not making a Mayweather fight And if a fighter from another promotional company beats his fighter, they get all the spotlight why would he want that And finally, he probably thinks that having that kind of ultimatum will result in a bunch of fighters signing to his company so they can get the good fights... He pretty much proved this with his Mares comments I guess to summarize it... SELFISHNESS Boxing will be a better place when he's gone

He doesn't like to share the wealth. That's why GBP will always be a notch ahead of Top wank!

Are people really naive enough to think boxing promotion would be fine if we were rid of Arum? There will always be Arums because the system under which boxing is organized creates opportunities for guys to act like Arum. The entire history of boxing shows you that. This feud is a nightmare for boxing fans, but Top Rank, GBP, or any other promotional outfit are in boxing to make money. Their motive is greed, so we can't be too surprised when they let that greed override everything else.

Pacstans will hate this thread. I voted he hates seeing his fighters lose to GBP. He loathes seeing a startup steal market share like GBP did. Boxing is a good old boys club, seeing anyone new (especially former boxers) start taking a piece of Top Rank's pie will cause massive grievances. The boxers are essentially slaves and GBP started compensating their slaves better. Every plantation owner hates when that happens.

greed is the main reason. but it's deeper than that. Arum has worked with Dibella and don king recently i think those promotions were more of an arrangements rather than co-promotions. dibella and don king let top rank had complete control of the promotions and got a fix amount on the side. same thing with what he's proposing for a donaire-mares fight...he will buy mares' services from golden boy and let him solely promote the fight. difference is i don't think gbp will agree.

He has a deep phobia of letting GBP get over on him~ since he feels Oscar back stabbed him by starting GBP and got over on him by using all the money Arum helped him get. Another big star that is connected with GBP got over on him the same way except in that case Arum didn't get close to his investment back while that guy has been making GBP tons of money. He wants the money, he wants the control but really it boils down to the smartest man in the room getting played twice and he isn't going to let them get strike three on him.

he simply doesn't want to share the profits just like any businessman would. why do you think a lot of companies are buying their rival companies? to eliminate competition and to get a bigger share of the market. if a promoter have enough resources to bankroll a fight promotion, of course he want to do it by himself.

Pride, less risk, no sharing the cash.

Bob Arum needs to make Mares vs Donaire. To make Donaire happy who cares if he doesn't like GBP there is alot of money to be made.

Fear of a loss pure and simple... he wants to milk Manny for every dime first.