PBC has TONS of money in the bank

[Scipio2009]

I'd hope no one wants HBO Boxing to go away, but there definitely seems to be some writing on the wall with how HBO feels about HBO Boxing, but the writing on the wall has been going on for over a decade now so who knows when HBO will actually get out of the boxing business. And **** man maybe they actually decide to invest more like they used to if the trajectory of boxing changes. I just don't think I'd place my bet on that with how things look for boxing.

And this $925M lawsuit news is interesting along the lines of what exactly is PBC's bankroll, but who knows how legit it is. For all the people from boxing who've looked into this no one has brought up $925M til these upset investors trying to get their money back did.

If it is correct then it would seem like PBC's recent moves aren't outta desperation so much as they are a Plan B after Plan A was poorly executed or just a ****ty plan that didn't work as they had expected & a lot of money was put into PBC's infrastructure.

The guy who is suing PBC, from the lack of information on him in the public record and the fact that it's only him and three others filing the suit, has the smell of an "ambulance chaser", simply throwing out a big number without any real context to how the money is being used, hoping to spook everyone into a settlement check.

just sayin'

[Sweet Jones]

When a venture is being funded by a bank or large investor, not all of the money is given out at once. The borrower submits a requisition to the bank which shows what expenses they have incurred and then it gets approved and funded. In projects I have worked on, this happens either on a monthly basis or sometimes on an as needed basis...But $900 Million isn't just given away with no detailed backup.

So obviously Waddell & Reed has been extremely irresponsible. They should have been checking and scrutinizing everything, as most investment companies/banks do.

"Oh, you are paying this Lara guy $1 Million for a horrible matchup that nobody cares about? No, sorry, we can't fund that one"

^^^^^ These are the type of conversations that didn't seem to take place in the first year of the PBC.

Just curious, but what is your proof that W&R was 'irresponsible' and in fact did not expect this? It is on record that they expect losses early on in this venture, so please explain how you've determined that they were not 'checking and scrutinizing everything'.

Thank you in advance.

[Scipio2009]

The financiers backing PBC are laying off 10% of their people. THAT shows you things aren't going as predicted.

For an organization with as much money under management as W&R has, the stake in PBC, depending on what rumored figures you want to use, amounts to anywhere from 0.5%-1.5% of assets under management.

No one is going to cut that much staff, if your statement is anything more than just bull****, over less than 2% of the actual business.

That statement would be as dumb as McDonalds having to cut a significant chunk of their staff because the price of pork didn't get low enough to launch the McRib this year, lol

[Eff Pandas]

If HBO is unwilling to properly invest in boxing (staging nothing but mismatches and basically moving any kinda competitive fight to PPV). why should they be kept around?

What do you mean properly invest in boxing? I'd suggest there is no such thing. They are investing in the sport regardless if they are putting a lot of their better matches on HBO PPV.

If they are throwing money at boxing & people watch I'd assume its a "proper" investment. Competitive fights doesn't necessary equal a good investment. I mean look at the numbers of HBO, Showtime or PBC shows. Generally names = more ratings not competitive fights. I believe HBO did really nice numbers last weekend with 2 giant mismatches. If people watch whats the problem exactly?

Sure there are better or other approaches to take that one could argue or could straight assume would be better, but throwing money at boxing at all is a good thing whoever is doing it to some degree. And don't get me wrong I wanna see everyone do competitive fights, but the reality is no one is really doing high caliber shows on a regular basis so its hard to put someones **** in the dirt or suggest they are bad for boxing when everyone is more or less doing the same thing.

[eco1]

Did you actually ever watch Friday Night Fights? People romanticize things, since it's no longer around, but most of the matchups never moved beyond promising prospect versus pug. Chris Algieri vs Emmanuel Taylor was a big fight for ESPN2, in case you forgot.

The Garcia-Guerrero fight card was a good night of fights, the Spence-Algieri fight card was a good night of fights, and the schedule is starting to ramp up, with the Ortiz-Berto fight card this Saturday, and the Thurman-Porter fight card at the end of June (limited things to the absolutely unquestionable fights).

Always did.

PBC doesn't have one good fight until , and if it gets made, Thurman-Porter.

[al-Xander]

When a venture is being funded by a bank or large investor, not all of the money is given out at once. The borrower submits a requisition to the bank which shows what expenses they have incurred and then it gets approved and funded. In projects I have worked on, this happens either on a monthly basis or sometimes on an as needed basis...But $900 Million isn't just given away with no detailed backup.

So obviously Waddell & Reed has been extremely irresponsible. They should have been checking and scrutinizing everything, as most investment companies/banks do.

"Oh, you are paying this Lara guy $1 Million for a horrible matchup that nobody cares about? No, sorry, we can't fund that one"

^^^^^ These are the type of conversations that didn't seem to take place in the first year of the PBC.

That just shows boxing is a sport many people hardly care about, including people who invest in it. Not one cared why Lara got $2 million for fighting Zaveck and Rodriguez. Did it increase Lara's worth? No. It's just complete utter waste of money and time.

It's not Haymon's money doe. Who cares?

[bballchump11]

Always did.

PBC doesn't have one good fight until , and if it gets made, Thurman-Porter.

You must have missed Edwin Rodriguez vs Thomas Williams tomorrow.

[Eff Pandas]

The guy who is suing PBC, from the lack of information on him in the public record and the fact that it's only him and three others filing the suit, has the smell of an "ambulance chaser", simply throwing out a big number without any real context to how the money is being used, hoping to spook everyone into a settlement check.

just sayin'

I don't disagree with this. My assumption is investors lose an insane amount of lawsuits like this or they don't even make it to court. In the initial info about this case it was stated there have already been two lawsuits throw out in relation to the PBC investment Waddell made. Knowing zero details obviously I suspect this will be a third strike for investors.

[Eff Pandas]

Always did.

PBC doesn't have one good fight until , and if it gets made, Thurman-Porter.

You just don't like boxing then or you must not like boxing most of the time cuz if PBC isn't putting on good fights until Porter vs Thurman in June then who is? But fair enough. Everyone doesn't need to love boxing like some of us do.

[bballchump11]

Just admit uncle Al can do no wrong doe. Keep on pretending scumbag Arum/HBO were never criticized by everybody for making useless fights like the Pac/Bradley trilogy, Crawford getting paid large amounts of money fighting cab drivers... Have you heard any news about HBO getting sued by shareholders?

Al has done plenty of bad things. I agreed with a lot of the things Richard Schaefer said about the PBC about how they may have to lower the volume of fights and make better matches that have some type of story to them and tournament. Make Porter vs Thurman and promise fans that the winner will fight the winner of Spence vs Brook or something like that. Then his promoting of a lot of these fights has been very lack luster.

And HBO isn't being sued by shareholders, but Top Rank is sued left and right from their own fighters.