Mikey Garcia's 'slave contract' with Top Rank

[krazyn8tive]

It's a wonder how promoters, who literally do nothing but talk and make back room deals, gained so much power. It's in arum's nature to be a snake sadly. It's in his dna. Too bad his stable has to suffer. These promoters make their money off the backs of people doing the real work smh disgusting

[xhiddenx87]

Well how did Andre Dirrell and Lucas Matthysse leave Haymon without going to court, paying to get out, or sitting out for years? Stop making ***** up.

I said the Contract is almost the same, didn't say all his fighters got the same treatment as Mikey...

[buge]

Where's the bad contract part, though?

That's not a bad contract. That's not a predatory contract.

It says you defend five times or you sit. And, if didn't want to wait, he could have bought out or had someone buy him out, which is how things went with Gamboa. Standard issue stuff; nothing unfair about it.

I guess they couldn't come to an agreement on a number, or maybe Mikey didn't want to invest in ditching the contract and enjoyed a vacation.

If the only way Arum will get him a fight is if Garcia extends the contract to another 5 fights, and that is going to go on indefinitely, then it's a bad contract. There should be some language requiring Arum to make reasonable efforts to achieve fights with reasonable paydays, or else Garcia has the right to terminate.

[JmH Reborn]

It's a wonder how promoters, who literally do nothing but talk and make back room deals, gained so much power. It's in arum's nature to be a snake sadly. It's in his dna. Too bad his stable has to suffer. These promoters make their money off the backs of people doing the real work smh disgusting

Say what you will about Arum - but its his money that is put upfront to invest in these guys while they are on the come up. It's the promoters who foot the bill hoping these guys become main event attractions.

For every Manny Pacquiao; there's like 5000 no-hopers who never give a positive ROI for a promoter. It's only right that a promoter if a guy wins a title attempts to generate positive cash flows.

There's nothing about Mikey Garcia that screams mega-star. He is a byproduct of Arum's matchmaking and entertainment connections. He's too ugly for TV and has zero charisma to make up for it. He has his boxing ability - but so do a lot of guys. Mikey literally has no cross-over appeal and Arum should be commended for making a guy who's illequipped for Radio and TV into a psuedo-celebrity.

He will fade into obscurity and it'll be his own fault

[Flabulous]

That contract was too much but yall need to see the.promotional side of it - promoters take a.risk of.significant financial losses investing in a.boxer by building him up.

Most of the time they are lucky to break even if a.boxer never makes it to the top one percent of boxers who get steady work on premier networks like HbO or Showtime or now pbc.

So I can see why a promoter would want to make sure a.boxer committed to them when the promoter commits to them and takes huge financial risks on their behalf building them up

[KillaMane26]

So can Garcia fight.now???

[Flabulous]

It's a wonder how promoters, who literally do nothing but talk and make back room deals, gained so much power. It's in arum's nature to be a snake sadly. It's in his dna. Too bad his stable has to suffer. These promoters make their money off the backs of people doing the real work smh disgusting

Because they have the money to invest to make fights.

You know how much it costs to stage a premier boxing event? Who u I think takes thst investment risk?

The only.time.promoters make any real.money is off the big dightsr.guaranteed to sell.

Not to mention the connections they have with the big time businessmen who grt them deals.and dates with venues sponsors etc

[Weebler I]

Sucks for Garcia, he might not get those paydays from Haymon now. Serves him right though, he should have fought.

[BrometheusBob.]

Let me not even pretend to know what the hell that picture even means

I was thinking the same exact thing

As I understand it, it says that the promoter has the right to promote the first 5 title defenses if the fighter becomes a world champion. If the contract would expire before the promoter can do that, it gives the promoter the ability to extend the contract so that they can. The promoter can choose to extend the contract for this reason as long it would not push the expiration date past 2.5 years after the original expiration date. Also gives the promoter the right to modify certain aspects of the contract during the extension period, and promises the fighter purses of at least $75k for those title defenses.

Can't tell if that is any clearer.. lol

[Eff Pandas]

I think this is more than likely what happened. Arum is known for pulling this stunt.

100%. I think many promoters do the sign a extension to get the big fight/big payday move, but Arum has perfected it.

Thats actually something the UFC was doing a lot til lately when they had more dates to fill than ever & they got a ****ty Reebok deal thats hurting peoples money so more guys are willing get to free agent status to test their market value.