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You don't even know the basics apparently. Short History lesson...
And Arum is on record that after the lawsuit is settled, he will pursue getting rid of their profit-sharing of Pacquiao and eliminate GBP from the picture all together legally.
But I'm just spewing conspiracy theories, right?
Study your history.
Oscar De La Hoya's Golden Boy Promotions thought it had a deal to sign lightweight titlist Juan Diaz last week, but Diaz's manager, Willie Savannah, reneged before it was signed and instead took a better offer from Don King.
Golden Boy didn't make the same mistake twice, signing Filipino superstar Manny Pacquiao out from under rival Top Rank by getting his signature on a seven-fight contract during a secret dinner Monday night in Los Angeles, multiple sources with knowledge of the deal told ESPN.com.
"It's done. It is signed," said one source, who said he has seen the executed contract.
Golden Boy, fast becoming boxing's most significant promoter, will also pay Pacquiao an undisclosed signing bonus, the source said.
"Sources: Golden Boy signs Pacquiao"
-Dan Rafael, 9/22/06
Golden Boy didn't make the same mistake twice, signing Filipino superstar Manny Pacquiao out from under rival Top Rank by getting his signature on a seven-fight contract during a secret dinner Monday night in Los Angeles, multiple sources with knowledge of the deal told ESPN.com.
"It's done. It is signed," said one source, who said he has seen the executed contract.
Golden Boy, fast becoming boxing's most significant promoter, will also pay Pacquiao an undisclosed signing bonus, the source said.
"Sources: Golden Boy signs Pacquiao"
-Dan Rafael, 9/22/06
Pacquiao had arrived in Los Angeles from the Philippines ahead of a news conference to announce his third fight with Top Rank's Erik Morales when De La Hoya met him at the airport with a limo and a briefcase filled with $300,000 to serve as a signing bonus. De La Hoya whisked him away for dinner in a private room at an L.A. steakhouse.
During the dinner, which was attended by De La Hoya, Pacquiao, Golden Boy CEO Richard Schaefer, Pacquiao trainer Freddie Roach, Pacquiao attorney Jeng Gacal and a couple of Pacquiao's friends, Pacquiao eventually signed the promotional contract.
A few days later, De La Hoya gloated about signing Pacquiao, believing he had outsmarted Top Rank, which also wanted to sign him.
"It was basically us outthinking the competition," De La Hoya told ESPN.com at the time. "I had a goal and that goal was to sign Manny Pacquiao. We strategized and we figured it out and we were willing to do whatever it took to sign him."
Unbeknownst to De La Hoya, Pacquiao also agreed to a promotional contract with Top Rank, Bob Arum's company, which had long promoted De La Hoya before their acrimonious falling out.
The result of the double signing was a bitter feud between boxing's two biggest promotional powerhouses. There were lawsuits between the companies and a cold war that, to a large degree, paralyzed the sport in the United States because De La Hoya and Arum refused to make deals to match the stars of their stables.
Finally, with both companies drowning in legal bills, they reached a truce in June 2007 with the help of mediator Daniel Weinstein. Under the settlement, Top Rank, to which Pacquiao had pledged his loyalty, retained Pacquiao's promotional rights with Golden Boy receiving a small percentage of his contract.
"Fight with Pacquiao is personal for De La Hoya"
-Dan Rafael, 12/3/08
During the dinner, which was attended by De La Hoya, Pacquiao, Golden Boy CEO Richard Schaefer, Pacquiao trainer Freddie Roach, Pacquiao attorney Jeng Gacal and a couple of Pacquiao's friends, Pacquiao eventually signed the promotional contract.
A few days later, De La Hoya gloated about signing Pacquiao, believing he had outsmarted Top Rank, which also wanted to sign him.
"It was basically us outthinking the competition," De La Hoya told ESPN.com at the time. "I had a goal and that goal was to sign Manny Pacquiao. We strategized and we figured it out and we were willing to do whatever it took to sign him."
Unbeknownst to De La Hoya, Pacquiao also agreed to a promotional contract with Top Rank, Bob Arum's company, which had long promoted De La Hoya before their acrimonious falling out.
The result of the double signing was a bitter feud between boxing's two biggest promotional powerhouses. There were lawsuits between the companies and a cold war that, to a large degree, paralyzed the sport in the United States because De La Hoya and Arum refused to make deals to match the stars of their stables.
Finally, with both companies drowning in legal bills, they reached a truce in June 2007 with the help of mediator Daniel Weinstein. Under the settlement, Top Rank, to which Pacquiao had pledged his loyalty, retained Pacquiao's promotional rights with Golden Boy receiving a small percentage of his contract.
"Fight with Pacquiao is personal for De La Hoya"
-Dan Rafael, 12/3/08
But I'm just spewing conspiracy theories, right?
Study your history.
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