Comments Thread For: Photos: Canelo Takes The Stand in $27 Million Lawsuit By All Star

[icha]

My point is $5000 isn't going to get you broadcast on major TV and a major beer sponsor. This was his last fight with ASB. He'd had 9 previous fights with them. In order to get him to this point they would have had to spend more than $5,000. One single promotion costs more than $5000.

5k is a lil exagerated, but then again it was televisa putting all the money to get canelo in their screen and they were doing all the promotion just like they do for the rest of their fights, that beer sponsor wasnt there for canelo or all-star, it was there for televisa and their fights, heck the name of the show is "sabados de corona"...
you could make a case that it was all-star that brought canelo to televisa, but televisa had canelo filling arenas even before the second miguel vazquez fight and all-star wasnt there back then...

[doubletake]

My point is $5000 isn't going to get you broadcast on major TV and a major beer sponsor. This was his last fight with ASB. He'd had 9 previous fights with them. In order to get him to this point they would have had to spend more than $5,000. One single promotion costs more than $5000.

I tend to agree with you that $5,000 isn't an accurate estimate, but we also have to recognize that $5,000 USD goes a long way in Mexico. For all but his first fight under ASB, he was fighting in strictly in Mexico.

Before signing to ASB, he had already fought on Telemundo, Televisa, and Telefutura (now UniMas), so he was already a decently marketable name.

I think a decent comparison would be a reappearing favorite on a network series like ESPN's Friday Night Fights. The fighter isn't really signed to the network, and the sponsors aren't there strictly for them, but rather for the series as a whole.

[whoseyourdaddy]

Worst of luck, AFRAID COWARD PIECE OF ****.

HOPE YOU GO ABSOLUTELY BROKE.

Only a peace of S**t mental midget wishes ill-will towards another Human being, you're not a fan of GGG you're F***ing obsessed..... sound ******.

[NapalmKnuckles]

[El Gitano]

Part 2 on All Star Boxing
vs. Golden Boy Promotions, heretofore
referred to as ASB and GBP.

Testimony concluded Wednesday
(and continues today) regarding
statements that Golden Boy's
personnel made concerning Saul
'Canelo' Alvarez; his bout agreement,
contract extension and rights of
fighter usage, dating back to 2009.

Interrogatories were provided to
Plaintiff's attorney Alejandro Bitro
and read before Judge Migna
Sanchez-Llorenz before cross
examination and testimony began.

To recap, All Star Boxing signed
Alvarez to a 4-year professional
services agreement in 2008. Clauses
extended the deal 2 years if he won
any 'major sanctioning body titles',
namely the #WBA, #WBC, #IBF or
#WBO belts.

[Alvarez won the WBA Fedecentro
Welterweight title in December 2008;
the WBO Latino Welterweight title in
February 2009; the WBC Youth
Welterweight title in August 2009;
the WBC Silver Junior Middleweight
title in July 2010; the WBC Junior
Middleweight title in March 2011:
and the WBA Junior Middleweight
title in April 2013.]

Court documents revealed that
Canelo Alvarez fought a total of 11
fights under the All Star Boxing
banner, beginning in June 2008 with
a victory over Miguel Vazquez: and
abruptly or unceremoniously ending
in December 2009 with a victory
over Lanardo Tyner. Shift to GBP.

Per documents, exhibits, motion
attachments and witness testimony,
Alvarez signed a 2nd and purported
invalid deal with Richard Schaefer,
Oscar de la Hoya and Eric Gomez, of
Golden Boy Promotions, in January
2010. His first fight with GBP was in
March 2010 against Brian Camechis.

Forensic Accountant Carl Feddi
testified that Golden Boy Promotions
has generated gross earnings of
$1,945,475,972.56 on Alvarez fights,
beginning in March 2010, through
May 2016, respectively. He further
testified that pursuant to 50% splits
for fighter and promoter, that Alvarez
and GBP both received $438M in net
quantity profit during 17 fights.

In addition, he specifically attested to
GBP's net profit of $323,444,601.44
from 2010-2015, using numbers
obtained from GBP's financial
statements: and depositions from
Oscar de la Hoya and Eric Gomez.

Frank Ronzio- an immigration
attorney for GBP- testified that
Canelo Alvarez fought in the United
States using an F-1 visa obtained by
ASB, and specifically listing ASB as
sole promoter.

Dates of stamped passport and
fights included: May 2010 (Jose
Cotto), September 2010 (Carlos
Baldomir); March 2011 (Matthew
Hatton); September 2011 (Alfonso
Gomez); May 2012 (Shane Mosley):
and September 2012 (Josesito
Lopez). No expiration date or re-
application of continuance was
discussed for April and September
2013 fights involving Austin Trout
and Floyd Mayweather, Jr.

Evidence was likewise proffered to
the court, in the form of a certified
letter submitted to the Department
of Homeland Security, by GBP's
Matchmaker Robert Diaz. The July
23, 2010 letter swore under oath
and threat of prosecution for perjury
that the official promoter of record
for Saul 'Canelo' Alvarez was ASB.

A written deposition by Rafael
Mendoza was read to the court,
where he testified that he explained
in great detail- to both Jose 'Chepo'
Reynoso and Saul 'Canelo' Alvarez-
the terms and conditions of the 2008
ASB Professional Services Contract
and Bout Agreement.

He further attested that both Alvarez
and Reynoso knew it was beyond a
'travel permit', and was a stipulation
in ASB's contract that they would
obtain F-1 visas for Alvarez for any
fight held outside of Mexico.

He noted that Reynoso- Alvarez's
co-trainer and manager- ask about
his split under both the ASB 2008
contract; and the GBP 2009 co-
promote deal where monies where
guaranteed both Zabala and
Reynoso, in addition to Alvarez.

Perhaps most damning, Mendoza
concluded his testimony noting that
Golden Boy Promotions not only
knew Alvarez was still under contract
to All Star Boxing, they still paid him
$1M in cash to 'sign', in spite of
having acknowledged in writing that
he was still under contract.

Mendoza further attested that Chepo
Reynoso initially turned down the
$1M payment, citing his cut: and the
manner of which it would be divided,
as not being acceptable. Alvarez then
accepted payment in cash.

Evidence submitted to the court also
established the material fact that GBP
paid Alvarez $15M in January 2015
when they resigned him to a new HBO
Boxing exclusive contract extension,
for purportedly 5 years.

Mendoza concluded his deposition
testimony with another bombshell:
Eric Gomez of GBP defaulted on a
$250K payment to ASB, for rights
of usage for Alvarez/Camechis.

A lawsuit for torturous business
interference was filed in early 2010
by Felix 'Tutico' Zabala, Jr. of ASB.
(It has subsequently been amended
to include claims of fraud and breach
of contract versus GBP and Alvarez).

You'd be hard pressed to find a case
where it went as well for the Plaintiff
and as bad for the Defendant as Day
2 of actual testimony in the All Star
Boxing vs. Golden Boy Promotions
suit at the Miami Dade Circuit Court.

Zabala is seeking $27M, plus punitive
damages, additional equitable relief,
court costs and attorney's fees. If
successful, he is eligible for triple
damages. The actual judgment could
exceed $100M. Barring settlement,
the only real debate is how much he
will win: and whether GBP's deal with
Alvarez is voided or amended.