Comments Thread For: Golden Boy's Lawsuit Against Al Haymon Enters Discovery Phase

[Mitchell Kane]

From De La Hoya on "key man" clauses that Schaefer/Haymon had at GBP:

In the later years of Mr. Schaefer's tenure, I learned that a number of agreements with boxers that Mr. Haymon managed contained "key man" clauses, which provided that if Mr. Schaefer left the company, those boxers could terminate their agreements with Golden Boy. Mr. Schaefer informed me before he resigned as CEO that these clauses had been demanded by Mr. Haymon.

https://twitter.com/MMAanalytics/status/797110058731483136

[Mitchell Kane]

Different case, but I'll put these updates here too....

FightOpinion @FightOpinion
Looks like the Kansas shareholder derivative lawsuit against Al Haymon's hedge fund money source will proceed to discovery & deposition!

FightOpinion @FightOpinion
With hurdles cleared for discovery & deposition, the Kansas lawsuit against Al Haymon's hedge fund $ is meant to stop any more $ to Haymon.

[Mitchell Kane]

Paul Gift @MMAanalytics
Al Haymon's judge just vacated his summary judgment hearing next Monday. Seems to have a history of this. Will decide on the papers.

[Mitchell Kane]

FightOpinion @FightOpinion
Judge in Golden Boy's lawsuit against Al Haymon will issue a written order (no oral arguments) on 11/28 on whether case goes to trial.

[Mitchell Kane]

FightOpinion @FightOpinion
Impossible to read tea leaves but burden is on moving party (Haymon) to prove merits. If Golden Boy was losing, judge would let them argue.

[Mitchell Kane]

Paul Gift @MMAanalytics
Have a pretty detailed piece ready on things learned from Haymon/Golden Boy summary judgment. Gotta make its way through legal dept first.

[Mitchell Kane]

Clay Stevenson – @GLITTERROAD
MMAanalytics who does it favor

Paul Gift &#8207 MMAanalytics
While I've poked fun at how much money they seem to be plowing through, the edge here goes to Haymon. Case as a whole, not Summ judge only

[Motorcity Cobra]

From De La Hoya on "key man" clauses that Schaefer/Haymon had at GBP:



https://twitter.com/MMAanalytics/sta...10058731483136

De La Hoya playing the victim again but he tells on himself with that statement

1. Fighters were signed to GBP. ODLH leads us to believe Shaeffer wasn't signing fighters.

2. ODLH got paid very well for those fighters terminating those contracts. Tens of millions. More money than he would've made promoting them.

3. Key man clauses are standard in other entertainment industries, especially the music industry where Haymon come from. If you were a manager would you want ODLH having control over your clients career? Hopkins said it best:

[Mitchell Kane]

What we’ve learned from Al Haymon’s trove of summary judgment filings against Golden Boy

A trove of documents were disclosed in the ongoing legal dispute between Al Haymon and Golden Boy. Paul Gift has all the details.

by Paul Gift@MMAanalytics Dec 1, 2016, 9:00am EST

According to Haymon’s deposition testimony, Haymon Sports is wholly-owned by Haymon Holdings and is the entity which runs the operations of Premier Boxing Champions (PBC) as well as contracts with boxers for Haymon’s management services.

It appears that Haymon Holdings may have been known as KO Holdings in the past when it made a “hundred million dollar purchase” attempt of Golden Boy, according to deposition questioning of Haymon. It seems the deal fell apart due to the inability of the parties to agree on certain covenants, which may have included a non-compete clause for Oscar De La Hoya.

In his declaration, Haymon argues that time buys weren’t part of the original PBC plan but when they approached NBC in 2014 about putting boxing back on network television, it “wholly disregarded this proposal and indicated that it had absolutely no intention of paying a rights fee for boxing.” In his deposition, Haymon mentions an early meeting with NBC in which Michael Ring (who describes himself as chief of staff or general counsel) is “dismissed, turned away, laughed at, and told that he must be crazy.”

Haymon claims to not have collected management or advisor fees for his PBC boxers. It’s been suggested that Haymon may be profiting by collecting fees from what Gary Shaw describes as Haymon’s “obscene[ly]” paid boxers while simultaneously blowing through Waddell’s cash. Haymon’s declaration under oath runs counter to this suggestion

Internal documents seem to suggest that Haymon employees had concerns early on with the PBC’s performance and marketing. In May 2015 – less than two months after the first PBC event – Ryan Caldwell, the former Waddell fund manager who when on to become COO of the PBC, describes “struggling for awareness because all we are doing is putting some fights on TV and advertising to an audience that watches boxing anyway and trying to convince them to tune it.” Michael Ring seems to suggest a fresh brand relaunch “and re-tell our entire story.”

The PBC appears to have been created with the goal of making a league-like structure in boxing. This could be the Phase II described in Michael Ring’s e-mail above. In his deposition, Haymon describes discussions with Waddell & Reed of a “league-like model and the idea of a league and the idea of rights fees for a league as the crucial element of making this project work.”

In Michael Ring’s deposition, he reveals that one possibility for eventually flipping the PBC’s business model is for Haymon Sports to convert to a promoter where boxers would be paid a minimum amount “and then there’s a sharing arrangement like the NFL.”

If the Haymon Sports model doesn’t get flipped by the start of 2018, then it probably won’t happen, according to Michael Ring.

Last week, Judge Walter vacated a hearing on Haymon’s motions for summary judgment that was scheduled for Nov. 28. He’ll make his decision on the submitted filings and that decision could come at any time.

Should the full case, or parts of it, progress to trial, the pressure will mount on Haymon to settle. Then again, Haymon’s positioning in this case seems to be on the stronger side based on the documents that have thus far been made public. The seemingly terrible performance of Waddell’s alleged investments into Haymon’s en****** may end up Haymon’s best friend in his antitrust battle.

http://www.bloodyelbow.com/2016/12/1...on-boxing-news

[Sweet Jones]

Should the full case, or parts of it, progress to trial, the pressure will mount on Haymon to settle. Then again, Haymon’s positioning in this case seems to be on the stronger side based on the documents that have thus far been made public. The seemingly terrible performance of Waddell’s alleged investments into Haymon’s en****** may end up Haymon’s best friend in his antitrust battle.


http://www.bloodyelbow.com/2016/12/1...on-boxing-news

As expected.