Originally posted by MASTERBX
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2 major shareholders sell GBP stock because they see no return on investment
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Oscar wanted full control of his company and now, with personal hold over over 85% of the business, he now has control of his company.
He's removed Richard Schaefer (longtime day-to-day operator for his GBP), moved away from Al Haymon (boxing powerborker with formal advisory/managerial realtionships with over 100 fighters and informal relationships many others), and spat in the face of Stephen Espinoza (EVP of Showtime Sports).
Whatever happens to Golden Boy Promotions, from this point in, is going to be due to whatever De La Hoya can accomplish under his own accord.
Hopefully Oscar can leverage whatever dates remain on the FS1 deal (which Richard Schaefer negotiated for the company), whatever exposure he can get on HBO, and the 30-40 fighters that GBP actually has under contract, into making a go at being an actual promotional company.
If the gamble doesn't work out, Oscar stays kind of viable until Canelo moves out on his own and Golden Boy Promotions devolves into, basically, a local promotion chasing site fees in CA and TX.
good luck
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In all fairness to Schaefer he offered oscar a way out ... It seems his pride got in the way of taking it. The writing is on the wall GBP is finished, they last as long Canelo does (5 years max).
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Originally posted by Bobby Shmurda View PostI'm not sure people understand what's being said here. By saying GBP didn't send out dividends, that's not saying the company didn't turn a profit. What Glaser said and what this article are saying are not the same thing.
"According to a source with knowledge of the deal, AEG and Brener initiated the sale because they had seen no return on their investment as Golden Boy has never made a distribution to its shareholders. AEG, for example, invested millions beginning in 2008 and had little to show for the investment."
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GBP will be fine. Oscar has connections with the Spanish TV Networks and Canelo win or lose is a flagship star. Canelo also doesn't speak english so business wise him moving away from GBP is a bad move that his people(who've done an amazing job so far) I doubt will make. If anything Oscar cutting back on costs is a good thing.
Haymon is the one in trouble. He has an entire stable of fighters with no network to put them on. I don't think NBC is going to pay Haymon dollars to have Danny Garcia fight some random liquor store clerk with the power of a feather duster on primetime network television. I also don't think him fighting on a channel that all of 34 people have will be good for Danny's career.Last edited by WARQUEZ; 10-15-2014, 05:22 AM.
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like it or not Mayweather Promotions is the next Goldenboy and with GBP gone it will void those contracts for workers, and they will be free to officially join Mayweather promotions. Arum is near death and that leaves Mayweather promotions as the Last One standing out of the three with a clean playing field until someone else comes along and try to start one
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