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Longtime promotional outfit Top Rank Inc. dropped a bombshell on Wednesday, filing a lawsuit against Al Haymon seeking in efforts to prevent the high-powered adviser from further developing his Premier Boxing Champions series.
“Al Haymon and Waddell & Reed (an investment firm who serves as the financial backers for the PBC series) are engaged in a sophisticated scheme to gain control of the boxing industry,” said Daniel Petrocelli, lead attorney for Top Rank in filing the lawsuit Wednesday morning. “As the lawsuit explains in detail, they are violating federal law, defying state regulator and absorbing significant short-term losses to drive legitimate operators out of the business.”
Top Rank’s lawsuit—in which it is seeking $100 million in damages and an injuction to stop the alleged predatory practices by PBC—comes on the heels of a similar case filed by Golden Boy Promotions earlier this year.
As the PBC movement began to spread throughout the industry, such legal matters were bound to surface. The company has since prepared to fight it out in the long haul with business as usual in the meantime, as Haymon finds dates and networks for an estimated stable of more than 200 fighters. [Click Here To Read More]
“Al Haymon and Waddell & Reed (an investment firm who serves as the financial backers for the PBC series) are engaged in a sophisticated scheme to gain control of the boxing industry,” said Daniel Petrocelli, lead attorney for Top Rank in filing the lawsuit Wednesday morning. “As the lawsuit explains in detail, they are violating federal law, defying state regulator and absorbing significant short-term losses to drive legitimate operators out of the business.”
Top Rank’s lawsuit—in which it is seeking $100 million in damages and an injuction to stop the alleged predatory practices by PBC—comes on the heels of a similar case filed by Golden Boy Promotions earlier this year.
As the PBC movement began to spread throughout the industry, such legal matters were bound to surface. The company has since prepared to fight it out in the long haul with business as usual in the meantime, as Haymon finds dates and networks for an estimated stable of more than 200 fighters. [Click Here To Read More]
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