Hyde: Rigo Destroyed Own Career..."Turned Down Many Multi-Million Dollar Offers"

[AddiX]

I never disputed that. Purse advances are VERY common. The other poster was trying to infer that Top Rank charges interest on purse advances, and THAT I find to be unlikely, given the can of worms it would open

Gotcha, didn't read that part.

There is a lot of posters here to constantly make up things about top rank ripping someone off, or doing something illegal, despite the fact every time they go to court they seem to win.

[DoktorSleepless]

Yeah paragraph 48 of the complaint. They alleged Top Rank took 10% of his gross purse.

It says:

"Under the Agreements, [Top Rank] was entitled to receive more than 10 percent of Garcia's gross purse as a professional boxer."

They didn't explicitly say Top Rank took 10% of Mikey's purse. They're saying that Top Rank was entitled to 10% under the "Agreements" ("Agreement" is the name of the two contract they provided as proof). But the actual contracts say no such thing. I think Mikey's lawyer is playing fast and loose with words here. I think they're trying to twist Arum making more 10% of the revenue a Garcia fight brings into Arum taking 10% of Mikey's purse. This way it it fits into the definition of manager under California law.

[Vasyl’s dad]

That explains a lot

It explains the same as before. Rigo wanted more than he was worth, for fighting nobodies. Dudes a fraud.

[-PBP-]

It says:

They didn't explicitly say Top Rank took 10% of Mikey's purse. They're saying that Top Rank was entitled to 10% under the "Agreements" ("Agreement" is the name of the two contract they provided as proof). But the actual contracts say no such thing. I think Mikey's lawyer is playing fast and loose with words here. I think they're trying to twist Arum making more 10% of the revenue a Garcia fight brings into Arum taking 10% of Mikey's purse. This way it it fits into the definition of manager under California law.

Revenue is a lot different than "gross purse" as they stated. Probably several times larger. I can't imagine how anyone would get that mixed up.

I think more realistically he has deductions in his paychecks that are legal but he has no idea what they are.

[DoktorSleepless]

Revenue is a lot different than "gross purse" as they stated. Probably several times larger. I can't imagine how anyone would get that mixed up.

I think more realistically he has deductions in his paychecks that are legal but he has no idea what they are.

Then why are Mikey's lawyers specifically saying the "Agreements" entitle Top Rank to 10%+ of Mikey's purse, when the Agreements they provided say no thing? If there were some 10%+ deductions in their checks, why didn't they provide that as proof instead of claiming the contract says something that it doesn't?

[-PBP-]

Then why are Mikey's lawyers specifically saying the "Agreements" entitle Top Rank to 10%+ of Mikey's purse, when the Agreements they provided say no thing? If there were some 10%+ deductions in their checks, why didn't they provide that as proof instead of claiming the contract says something that it doesn't?

Their interpretation of the contract and definition of gross purse leads them to believe Top Rank is getting 10% of that gross purse.

[DoktorSleepless]

Their interpretation of the contract and definition of gross purse leads them to believe Top Rank is getting 10% of that gross purse.

In other words, they're reaching. They're reaching hard.

[BamaSlamma]

Rigo hasn't made a TON of dough in his career. He will have to fight sooner or later to pay the bills.

[-PBP-]

In other words, they're reaching. They're reaching hard.

Depends man. Imagine this scenario. Top Rank is generating an abnormal profit on Garcia fights in comparison to other fighters in his stable. Yet he's making the same purse. Can the extra profit be considered compensation for his services? Who knows?

There's trillions of scenarios.

[i'm a fun haver]

Why didn't Rigo just fight another Jap in Japan?
Would've at least been staying active