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

[Motorcity Cobra]

Exactly what happened, allowed him to negotiate.

Settled in April eh? Not sure how I missed that. Well, that's good to hear. Probably allowed him to start negotiating the network deals after that was taken care of.

The lawsuits definitely slowed things down for Haymon, but it ended up working out fine for him. This was the major lawsuit from all the ones he had to deal with.

It never stopped them from negotiating, just like it never stopped them from putting fights on FOX.

That's the lawsuit that had nothing to do with Haymon right? The investors were suing the fund for investing in PBC but Haymon/PBC weren't being sued, right?

[IMDAZED]

That's the lawsuit that had nothing to do with Haymon right? The investors were suing the fund for investing in PBC but Haymon/PBC weren't being sued, right?

I believe so. And even if Haymon companies were named, it wouldn’t stop them from negotiating.

I don’t think people realize how many lawsuits financial firms deal with at a time. And they’re almost always settled for peanuts or thrown out of court unless there is some fraud taking place. I dealt with contractual language for a publicly-traded firm for 12 years. These kind of suits are more concerning from an optics perspective than they are from any other kind of damage.

[////]

yeah I mean PBC is dead , right????

I genuinely don't know. Are they still doing events? If my post was bumped I'm guessing so.

[IMDAZED]

Why would it have stoppped them from having fights on FOX? The prior deal has nothing to do with the current deal.

In short, it didn’t stop them from doing anything.

[KTFOKING]

In short, it didn’t stop them from doing anything.

Why would you mention the current agreement of fights taking place on FOX? That is completely irrelevant to the new FOX deal.

It sure made it easier to negotiate without that case over his head.

[IMDAZED]

Why would you mention the current agreement of fights taking place on FOX? That is completely irrelevant to the new FOX deal.

It sure made it easier to negotiate without that case over his head.

No, didn’t change anything.

[slu]

That's the lawsuit that had nothing to do with Haymon right? The investors were suing the fund for investing in PBC but Haymon/PBC weren't being sued, right?

No Haymon and PBC weren't named, this was the BobFather and crew trying to get a class action to stop the PBC funding (if we sue there investors there won't be any money disseminated). Gift did a good job writing about this while it was happening and also there was another blog/writer I can't remember who had theories and was following it close. Anyway the rumor mill in boxing was the plaintiff's attorney's (who shopped for plaintiff's btw) was close with the BobFather and were pointed in the direction of Waddell/Haymon under the guise it would cut off funding. So not sure if it did indeed tie Al's hands in negotiating it may have, I would argue NO network was going to negotiate with him before this year anyway because well, why would they? They were getting paid. Now that the payments ended I believe Sept of this year, the window was open. The Lawsuit is a good read though, basically said the Waddell crew did nothing wrong nor did Haymon.