Comments Thread For: “Fighting Words” – Golden Boy vs. Top Rank Lawsuit Changes Everything, Nothing

[hb stowe]

de la hoya should be ashamed of taking advantage of pacman. not only he tried to ruin pacmans name with his smear campaign. he sabotage pacmans fight with mayweather. now he is trying to persuade the public not to watch the pacman- margarito fight yet he gladly takes a cut of pacmans purse.

[Lorily]

BoxingScenery, an answer from the lawsuit.

Pacquiao's initial contract ran through November of this year but has probably been extended.

From the complaint:

But Pacquiao extending his contract with TR doesn't mean that GBP is entitled to any further rights to him, correct? GBP should only be entitled to the percentage rights until the last day of the original contract.

[Mr. David]

Lorily,

Another part of the lawsuit, with parts of it redacted (on their part, though the bolded emphasis is mine):

19. Paragraph 6 of the 2007 Agreement provided that (a) GBP would “receive a ___ interest in Manny Pacquiao’s present promotional contract with TR” (i.e., the M-P Agreement), (b) TR would “retain a _____ % interest,” (c) GBP would “retain its ___ interest regardless of Top Rank’s interest,” (d) the proceeds from each Pacquiao fight not co-promoted with GBP would be held in a separate bank account for such fight, and (e) GBP would still receive ___ of net profits from Pacquiao bouts if TR’s promotional rights as to Pacquiao were extended.

[Lorily]

Lorily,

Another part of the lawsuit, with parts of it redacted (on their part, though the bolded emphasis is mine):

Thanks for the clarification David. I don't understand that at all though. Why in the world would TR agree to that (continuing to pay % to GBP if the contract was extended)?? Considering that even if Manny would have been solely with GBP, at the end of the original contract Manny would have been free to sign with anyone he chose (which would normally end any contractual obligation and require a new formal contract).

"TR gained the exclusive right to promote Pacquiao’s bouts through November 30, 2010. On information and belief, Pacquiao, M-P and TR have agreed to the terms of a contract extension for a number of years."

For some reason I thought that Pac extended his contract with Arum on a fight by fight case. Manny and Arum both have conceeded that he may only fight one more time (after Margarito). Stating that the terms of the contract extension being for "a number of years" insinuates that he is not quiting anytime in the near future. Or does that simply mean that IF he fights anytime during the next few years that he would be under contract with TR? Sorry for the inquisition, I know that contracts are usually case specific... but you always seem to have access to these things so hope you don't mind my pestering.

[SCEN3RY]

Lorily,

Another part of the lawsuit, with parts of it redacted (on their part, though the bolded emphasis is mine):

19. Paragraph 6 of the 2007 Agreement provided that (a) GBP would “receive a ___ interest in Manny Pacquiao’s present promotional contract with TR” (i.e., the M-P Agreement), (b) TR would “retain a _____ % interest,” (c) GBP would “retain its ___ interest regardless of Top Rank’s interest,” (d) the proceeds from each Pacquiao fight not co-promoted with GBP would be held in a separate bank account for such fight, and (e) GBP would still receive ___ of net profits from Pacquiao bouts if TR’s promotional rights as to Pacquiao were extended.

Thanks for the info. Maybe Pac should have "retired" to clear the contracts...if that would've worked.

[Mr. David]

Lorily,

These were probably terms that were agreed to during mediation. Golden Boy wanted some stake in Pacquiao in exchange for giving up its legal case, and Top Rank was willing to give up a partial stake in exchange for being able to make massive amounts of cash promoting Pacquiao.

[komandante]

What is appalling is GBP is still getting percentage from Manny's hard earned fights, when they continuously discredit and defamed him.

[komandante]

If convicted little Floyd will get a minimum of 5 years sentence and his career is finished. Will join his family of excon.

[Canelo Phresh]

great read...