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Originally posted by about.thousands
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Bob Arum
"It called for the Golovkin fight to pay him a minimum $7 million, and if he lost that fight, we guaranteed him another fight for $5 million. Now if he beat Golovkin, then we would pay him a minimum for his next fight of $10 million," said Arum, during his earlier interview with R!ngTV.com.
"So we would … do these two fights, and the minimum he would make is $12 million, and if he was successful, $17 million plus. He turned that offer down. So we offered him a one-fight offer at considerably less money but still better than what Golovkin accepted for the fight and he turned that down. So, obviously, he doesn't want the fight and we go on with our business."
Chavez manager
"What he did not agree to was a two-fight extension. But Everything else, he agreed to. There were multiple other offers by Top Rank that always included extensions. The last one is correct. Bob did offer him a $7 million guarantee with a one-fight extension, and $10 million if he won, $5 million if he lost. Again, we accepted the fight, but not the extensions."
http://r!ngtv.craveonline.com/news/3...nager-top-rank
Chavez's own father told him it was a good offer and to take it. Instead Chavez sat out an ENTIRE year. And got only 2.5mil to fight Fonfara who he lost to. He could of fought GGG and even if he lost would of made out with much more money and the man who was advising Chavez at the time got FIRED. Because it was foolish to turn down that offer. Funny how both Chavez and Garcia both tried to force their way out of Top Rank amid reports that they were trying to sign with Haymon. Haymon SCREWED both these guys careers. Cost Chavez millions and he still lost and is still costing Mikey millions and years of his prime wasted even if he get's out. Mikey could of just fought his way out of his contract and then signed with Haymon or whoever and saved a lot of money. He filed the lawsuit thinking it would prompt Arum to settle and negotiate an amount to get out his deal. Top Rank's attorney
Top Rank lawyer David Marroso, who is a senior attorney with the Los Angeles-based O’Melveny and Myers law firm
"Mikey Garcia's lawsuit against Top Rank is baseless. The promotional agreement is 100 percent legal, 100 percent valid and 100 percent enforceable," said Marroso, in an e-mail to R!ngTV.com. "Mikey and his lawyers know this, which is why they are saying, ‘we should renegotiate.’ Top Rank has invested huge sums of money to help develop the Mikey Garcia brand, and we are going to vigorously defend our rights in court.”
http://r!ngtv.craveonline.com/news/3...seless-lawsuit
Garcia filing that lawsuit backfired big time as we are going 2 years plus and he turns 29 this year. Even if you win you can't get those years back. These fighters were all given options to fight out the remainder of their contracts sure at a lower price but if you want out finish your fights then sign to whoever you want. Both guys wanted their cake and eat it too. They wanted to end their contracts and still make huge money and it backfired with both. Chavez was offered more money even without extensions then the money he made last year with Haymon. So Chavez lost a year and got less money. Garcia has already lost 2 years worth of fight purses.
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