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Credit to Dan Rafael.
The war between Oscar De La Hoya's Golden Boy Promotions and Bob Arum's Top Rank, which has boxing fans caught in the crossfire because the firms are unwilling to make fights between their boxers, appears as though it is headed toward a truce.
With no fanfare, leadership from both companies spent Saturday hunkered down in an all-day mediation session in Los Angeles with their team of lawyers. The goal was to settle all of their lawsuits and work out a plan both sides can live with.
Both sides would like to settle because they have spent hundreds of thousands of dollars in legal expenses and spent many hours sitting in depositions with no end in sight. De La Hoya, for example, was deposed May 30 in Los Angeles. Manny Pacquiao and his trainer, Freddie Roach, have also been deposed.
Neither side will talk about Saturday's mediation session because everyone involved signed a confidentiality agreement.
When asked about the mediation, Top Rank president Todd du Boef said, "I'm not going to talk about anything to do with that, so don't even ask."
Golden Boy CEO Richard Schaefer had the same response. "We signed an agreement. I can't say anything and I won't say anything."
It's obviously serious because each side normally relishes slamming the other one.
The big battle between the companies has been the ongoing legal fight over promotional rights to Pacquiao, the junior lightweight star who signed with both companies but ultimately decided to go with Top Rank. Multiple suits have been filed in that case.
Golden Boy has lost bids for an injunction to keep him from fighting, but Pacquiao is stuck facing lesser opponents because his two biggest opponents -- big-money rematches with Juan Manuel Marquez and Marco Antonio Barrera -- are promoted by Golden Boy. Pacquiao also represents the biggest money opponent for Marquez and Barrera.
The lawsuits have also hampered Pacquiao and Top Rank because HBO, the industry's television leader, has been leery of televising Pacquiao until the suits are settled. It left Top Rank to put on its own pay-per-view card April 14 when Pacquiao faced Jorge Solis. Had HBO been involved in marketing and promoting the event, there is little doubt that it would have been more successful.
There are also other potential major fights the companies could put on, including one between Golden Boy's Shane Mosley and Top Rank's Miguel Cotto.
The promotional firms, whose rivalry stems from De La Hoya's acrimonious split with longtime promoter Arum to start his own company, are also in litigation over revenue from De La Hoya's May 2006 fight against Ricardo Mayorga.
Pacquiao is scheduled to fight Oct. 6, but no opponent has been selected. One of the reasons is because of the possibility of a settlement between Golden Boy and Top Rank. If there is one, it could pave the way for Pacquiao to face Barrera in the fall.
Marquez committed to a Sept. 15 title defense against Jorge Barrios after Barrera, who lost to Marquez in March, rejected a rematch. One of the reasons Barrera rejected the rematch with Marquez was because he badly wants to fight Pacquiao instead.
Barrera and Pacquiao have both said that they want to fight each other, and the fact that a deal hasn't been made has caused a lot of friction between Barrera and Golden Boy. Top Rank would also like to make the fight because it's on the hook to pay Pacquiao millions in his next bout and needs a big event for him in order to generate enough revenue.
One of the scenarios discussed even before the companies went to mediation was a plan under which the sides would work out some sort of co-promotional agreement regarding Pacquiao. A settlement between companies could also lead to an eventual Marquez-Pacquiao rematch in 2008.
With no fanfare, leadership from both companies spent Saturday hunkered down in an all-day mediation session in Los Angeles with their team of lawyers. The goal was to settle all of their lawsuits and work out a plan both sides can live with.
Both sides would like to settle because they have spent hundreds of thousands of dollars in legal expenses and spent many hours sitting in depositions with no end in sight. De La Hoya, for example, was deposed May 30 in Los Angeles. Manny Pacquiao and his trainer, Freddie Roach, have also been deposed.
Neither side will talk about Saturday's mediation session because everyone involved signed a confidentiality agreement.
When asked about the mediation, Top Rank president Todd du Boef said, "I'm not going to talk about anything to do with that, so don't even ask."
Golden Boy CEO Richard Schaefer had the same response. "We signed an agreement. I can't say anything and I won't say anything."
It's obviously serious because each side normally relishes slamming the other one.
The big battle between the companies has been the ongoing legal fight over promotional rights to Pacquiao, the junior lightweight star who signed with both companies but ultimately decided to go with Top Rank. Multiple suits have been filed in that case.
Golden Boy has lost bids for an injunction to keep him from fighting, but Pacquiao is stuck facing lesser opponents because his two biggest opponents -- big-money rematches with Juan Manuel Marquez and Marco Antonio Barrera -- are promoted by Golden Boy. Pacquiao also represents the biggest money opponent for Marquez and Barrera.
The lawsuits have also hampered Pacquiao and Top Rank because HBO, the industry's television leader, has been leery of televising Pacquiao until the suits are settled. It left Top Rank to put on its own pay-per-view card April 14 when Pacquiao faced Jorge Solis. Had HBO been involved in marketing and promoting the event, there is little doubt that it would have been more successful.
There are also other potential major fights the companies could put on, including one between Golden Boy's Shane Mosley and Top Rank's Miguel Cotto.
The promotional firms, whose rivalry stems from De La Hoya's acrimonious split with longtime promoter Arum to start his own company, are also in litigation over revenue from De La Hoya's May 2006 fight against Ricardo Mayorga.
Pacquiao is scheduled to fight Oct. 6, but no opponent has been selected. One of the reasons is because of the possibility of a settlement between Golden Boy and Top Rank. If there is one, it could pave the way for Pacquiao to face Barrera in the fall.
Marquez committed to a Sept. 15 title defense against Jorge Barrios after Barrera, who lost to Marquez in March, rejected a rematch. One of the reasons Barrera rejected the rematch with Marquez was because he badly wants to fight Pacquiao instead.
Barrera and Pacquiao have both said that they want to fight each other, and the fact that a deal hasn't been made has caused a lot of friction between Barrera and Golden Boy. Top Rank would also like to make the fight because it's on the hook to pay Pacquiao millions in his next bout and needs a big event for him in order to generate enough revenue.
One of the scenarios discussed even before the companies went to mediation was a plan under which the sides would work out some sort of co-promotional agreement regarding Pacquiao. A settlement between companies could also lead to an eventual Marquez-Pacquiao rematch in 2008.
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