Waddell investment down to the last 82M? OUT of (521M)

[AddiX]

Well turning the business model upside down seems to have made some shareholders of Waddell funds extremely unhappy. Fight Opinion's Zach Arnold was first to discover a February lawsuit in Kansas City federal court filed against Waddell by shareholders of funds purportedly invested in Haymon's corporate en******. The investors are looking to recover "at least $300 million, and perhaps as much as $925 million, of losses and other damages" as a result of "willful and gross breaches of fiduciary duty towards shareholders to i) prudently monitor and supervise the Funds' investments to meet the investment objectives as stated in the Funds' Prospectuses, ii) supervise the Funds' portfolio managers, and iii) rigorously enforce the Funds' compliance and ethical codes of conduct."

The complaint describes Haymon as a "shady entrepreneur" of a "potentially criminal" company.

I told y'all!

I been saying this **** for over a year.

Haymon and Caldwell stole that money from the Hedge Fund. That's why Haymon spent it as quick as he possibly could before the hedge fund caught on and realized they were being stolen from.

This **** is basically burning $, completely unprofitable business plan and will crash within a year.

According to the complaint, an unnamed hedge fund had previously declined to invest in a boxing promotion company "because revenues went to the fighters, making the investment unprofitable." In discussions with a contact at the hedge fund, Caldwell allegedly learned of Haymon's plans "to buy up the management deals for a ‘critical mass' of fighters and use their leverage to dictate profits."

According to Waddell's website, as of Mar. 31, 2016 these six investments now have a total market value of only $357,747,414, which implies that the investments allegedly used to finance the PBC have collectively lost over $567 million in a little less than three years.

Hahaha where all y'all at now? Calling me a hater because I called this **** out over a year ago.

What a mess. Free boxing on TV!

Haha a clowns....

[SterlingStained]

The complaint describes Haymon as a "shady entrepreneur" of a "potentially criminal" company.

WHAT DID I TELL YOU PEOPLE!?!?!?!?!?!?!?????

Ive been saying this FOR OVER 3 YEARS,

AL HAYMON =



Yall gonna have to learn the hard way....

[bballchump11]

Which do I prefer?

Haymon screwing over other promoters and investors or
Arum screwing over his fighters and fans

I'll take Haymon.

[Nubia]

I told y'all!

I been saying this **** for over a year.

Haymon and Caldwell stole that money from the Hedge Fund. That's why Haymon spent it as quick as he possibly could before the hedge fund caught on and realized they were being stolen from.

This **** is basically burning $, completely unprofitable business plan and will crash within a year.



Hahaha where all y'all at now? Calling me a hater because I called this **** out over a year ago.

What a mess. Free boxing on TV!

Haha a clowns....

I wonder how you're going to feel when PBC is boxing's biggest company in a few years from now.

[original zero]

is there anybody that honestly believes haymon's control of the US boxing market is shrinking?

if not, why all the shade? the dude waltzed into the business and slowly but surely has been taking over. is there any reason to believe he'll be stopping any time soon?

[Lester Tutor]

The desperate attempts of PBC haters. Lol. How they can prove Haymon is a "shady entrepreneur" is a fail.

Thomas Hauser's fumbled article on Ring influenced this "lawsuit?"

This lawsuit will sweep under the rug. Judge will end up sleeping or watching a PBC boxing match while the court is in session

[.!WAR MIKEY!.]

so let me get this right.

Their is absolutely no way to earn revenue doing buying timeslot unless your able to sell commercial space which is practically the only way to earn money with going the buying timeslot route and not selling a product (like traditional timeslots buys consist of)

also the guy who approved the loan, quit the investment company to go work with haymon.

The business model basically boils down to saturate the market with boxing content that is not earning returns and pay the boxers their paychecks with the investment money and hope by the time all the 1 billion is spent that pbc is a sports household name brand like the UFC is. Thats a big gamble and aspirations but hey its easy to take those type of risk when its not your money and you still make money even if it fails.

Haymon is a shady hustler lol. He got someone to give him a huge amount of money for a business model where basically the more he spends the richer he gets. Its in haymon favor to over pay all his boxers the most he can cause he is getting 20% off the top per boxers.

[Dr Rumack]

so let me get this right.

Their is absolutely no way to earn revenue doing buying timeslot unless your able to sell commercial space which is practically the only way to earn money with going the buying timeslot route and not selling a product (like traditional timeslots buys consist of)

also the guy who approved the loan, quit the investment company to go work with haymon.

The business model basically boils down to saturate the market with boxing content that is not earning returns and pay the boxers their paychecks with the investment money and hope by the time all the 1 billion is spent that pbc is a sports household name brand like the UFC is. Thats a big gamble and aspirations but hey its easy to take those type of risk when its not your money and you still make money even if it fails.

Haymon is a shady hustler lol. He got someone to give him a huge amount of money for a business model where basically the more he spends the richer he gets. Its in haymon favor to over pay all his boxers the most he can cause he is getting 20% off the top per boxers.

What he did with Caldwell is exactly what he did with Schaefer. Get someone inside the organisation with the resources you need playing on your team. What's funny is that Haymon hasn't actually built anything himself yet. He got all of his fighters from Golden Boy and set up PBC with a truckload of other people's money.

In the end it'll probably all end up back on Showtime. And all of this cold war bullshit will have been for nothing.

[Eff Pandas]

Which do I prefer?

Haymon screwing over other promoters and investors or
Arum screwing over his fighters and fans

I'll take Haymon.

LOL this worse case. Never seen so many panties in a bunch over fights on free TV & well paid boxers. Now everyone wants to pay for fights & for boxers to make ****. Some of ya'll need to make up your mind.

And lets not get excited about accusations which is all this is at this point by mad investors trying to get back their own bad investment. This was a high risk move from jump street & I imagine if PBC secured a TV deal a month from now these guys would go back under their rocks & stfu.

[North Star]

LOL this worse case. Never seen so many panties in a bunch over fights on free TV & well paid boxers. Now everyone wants to pay for fights & for boxers to make ****. Some of ya'll need to make up your mind.

And lets not get excited about accusations which is all this is at this point by mad investors trying to get back their own bad investment. This was a high risk move from jump street & I imagine if PBC secured a TV deal a month from now these guys would go back under their rocks & stfu.

But realistically, with ratings constantly trending downward with no uptick at all since the launch, what are the chances a network picks up a PBC contract? Had ratings been steady or slowly climbing, this would be a no-brainer to give PBC a deal. But with the way actual numbers are being reported, it doesn't look like any deal worthwhile would be offered.

I think the best bet is to just focus on the Spike network. That seems to a good place for combat sports with a relatively consistent rating and demo. The overhead spending would have to come down a lot, but it should be a profitable spot. I do anticipate most of the fighters being back on Showtime in the end, though.