Comments Thread For: Things Not Going Well For Canelo, Golden Boy in Ongoing Trial

[bigdunny1]

They reported it because Golden Boy said they were. They also said Zabala had to pay their legal fees which turns out is a lie.

Why would golden boy lie about appealing? And why wouldn't they appeal? They said they weren't going to settle and would fight this is court and did just that and the court sided with them and took the biggest claim out of these joke promoters stating that they had no legal contract. So that is gone and so is the crazy 100m damages they claimed. Golden boy will appeal on canelos behalf because they have more money and can afford to string this on as long as needed and these guys will have no choice but to accept a much smaller check to avoid further legal fees and the threat of coming up with NOTHING. And I have seen nothing that says they will not be forced to pay golden boys legal fees which is pretty custom when you are exonerated in court which golden boy was. Zabala tried to extort golden boy and took a big L

[BennyBlanco]

Why would golden boy lie about appealing? And why wouldn't they appeal? They said they weren't going to settle and would fight this is court and did just that and the court sided with them and took the biggest claim out of these joke promoters stating that they had no legal contract. So that is gone and so is the crazy 100m damages they claimed. Golden boy will appeal on canelos behalf because they have more money and can afford to string this on as long as needed and these guys will have no choice but to accept a much smaller check to avoid further legal fees and the threat of coming up with NOTHING. And I have seen nothing that says they will not be forced to pay golden boys legal fees which is pretty custom when you are exonerated in court which golden boy was. Zabala tried to extort golden boy and took a big L

Winning an $8.5M judgment is an L? OK, bro.

BTW, All Star isn't paying a cent of legal fees. Their lawyer is on a contingency, which means the client pays no fees other than a percentage (usually 30-40%) of whatever the client wins.

So fighting an appeal will cost All Star nothing.

[bigdunny1]

Winning an $8.5M judgment is an L? OK, bro.

BTW, All Star isn't paying a cent of legal fees. Their lawyer is on a contingency, which means the client pays no fees other than a percentage (usually 30-40%) of whatever the client wins.

So fighting an appeal will cost All Star nothing.

First off he's not seeing 8m and he was asking for a minumum of 27m with claims in the suit that his total damages could hit as high as 100m. And his biggest leverage was that he owned a legal contract with Canelo which the courts already decided is NOT true. With the contract status off the table and Canelo filling an appeal these idiots will likely get a fraction of that money. Golden Boy and was exonerated. Canelo was found liable but will appeal and that will continue to play out. But 8m is peanuts for Golden Boy and Canelo and they have more money and resources to fight this and drag this on in court. Does Allstar? I doubt it. His legal team will be pressuring them to take a settlement since the prospect of a huge 100m judgement from the courts is now OFF THE TABLE.

Golden Boy won and the idiots who were reporting and speculating on this case all lost. You had idiots saying that the courts were going to say the contract was legal and that Allstar were going to own his rights and promote his fights going forward. You had idiots saying Golden Boy was going to be found guilty and subject to 80-100m in damages and be forced to file bankruptcy. Golden Boy owes nothing and will go after their legal fees to be paid for by Allstar like many en****** do when they are exonerated in a lawsuit. And Canelo himself will continue fighting on to lower that amount.

[gmc_rfc_06]

As I said the other day;

This is going nowhere.

They will get a few million in compensation from Golden Boy and that will be that.

[bigdunny1]

Look at the lawsuit from the USFL to the NFL. Had all these charges with damages in the hundreds of millions. NFL beat all of the charges except one. USFL was awarded like 4m in damages for that one charge in 1986. Appeals went on for years and years and by the time it finally ended in 1990 USFL racked up more legal fees and ended up with a settlement check after legal fees of just $3.76 for damages. Allstar at this point will be better served to start negotiating a lower settlement now rather then risk a long drawn out appeal process. All the idiots responding to this legal case saying Golden Boy was in trouble look pretty dumb today.

[BennyBlanco]

First off he's not seeing 8m and he was asking for a minumum of 27m with claims in the suit that his total damages could hit as high as 100m. And his biggest leverage was that he owned a legal contract with Canelo which the courts already decided is NOT true. With the contract status off the table and Canelo filling an appeal these idiots will likely get a fraction of that money. Golden Boy and was exonerated. Canelo was found liable but will appeal and that will continue to play out. But 8m is peanuts for Golden Boy and Canelo and they have more money and resources to fight this and drag this on in court. Does Allstar? I doubt it. His legal team will be pressuring them to take a settlement since the prospect of a huge 100m judgement from the courts is now OFF THE TABLE.

Golden Boy won and the idiots who were reporting and speculating on this case all lost. You had idiots saying that the courts were going to say the contract was legal and that Allstar were going to own his rights and promote his fights going forward. You had idiots saying Golden Boy was going to be found guilty and subject to 80-100m in damages and be forced to file bankruptcy. Golden Boy owes nothing and will go after their legal fees to be paid for by Allstar like many en****** do when they are exonerated in a lawsuit. And Canelo himself will continue fighting on to lower that amount.

So GB and Canelo won, and their reward for winning is that Canelo has to pay $8.5 million to All Star???

Yeah, I never want to win that way.

You clearly don't understand a CONTINGENCY FEE. All Star doesn't need resources to continue to fight it. They've been fighting it for 5 years and it hasn't cost them a dime...because their lawyers are on a contingent fee - meaning there is no charge to All Star unless they win.

And it's too late for GB to ask for their legal fees to be paid by All Star. You can't add a new counterclaim for attorneys fees at this late stage.

[Kigali]

So GB and Canelo won, and their reward for winning is that Canelo has to pay $8.5 million to All Star???

Yeah, I never want to win that way.

You clearly don't understand a CONTINGENCY FEE. All Star doesn't need resources to continue to fight it. They've been fighting it for 5 years and it hasn't cost them a dime...because their lawyers are on a contingent fee - meaning there is no charge to All Star unless they win.

And it's too late for GB to ask for their legal fees to be paid by All Star. You can't add a new counterclaim for attorneys fees at this late stage.

[bigdunny1]

So GB and Canelo won, and their reward for winning is that Canelo has to pay $8.5 million to All Star???

Yeah, I never want to win that way.

You clearly don't understand a CONTINGENCY FEE. All Star doesn't need resources to continue to fight it. They've been fighting it for 5 years and it hasn't cost them a dime...because their lawyers are on a contingent fee - meaning there is no charge to All Star unless they win.

And it's too late for GB to ask for their legal fees to be paid by All Star. You can't add a new counterclaim for attorneys fees at this late stage.

And you don't understand the lawyers were WILLING to represent them for 5 years on that contingent fee because they were banking on the 100mil pot of gold at the end of the rainbow. Now that's cut to just 8m with a chance that gets knocked down significantly in appeals so why would they want to continue down this road? There is a reason most of these lawsuits end in settlement agreements. But with the courts ruling they don't have a valid contract their leverage is much lower going forward.

Their lawyers will be pressuring them to settle now that the legal fees will rack up and there is little chance to recoup those type of fees. You think you getting the same legal representation and advice when the lawyers think they getting a cut of 100m as opposed to now they know the pie is only 8m? Sorry to break it to you but you won't and there is no chance these jokers ever see 8m.

[BennyBlanco]

And you don't understand the lawyers were WILLING to represent them for 5 years on that contingent fee because they were banking on the 100mil pot of gold at the end of the rainbow. Now that's cut to just 8m with a chance that gets knocked down significantly in appeals so why would they want to continue down this road? There is a reason most of these lawsuits end in settlement agreements. But with the courts ruling they don't have a valid contract their leverage is much lower going forward.

Their lawyers will be pressuring them to settle now that the legal fees will rack up and there is little chance to recoup those type of fees. You think you getting the same legal representation and advice when the lawyers think they getting a cut of 100m as opposed to now they know the pie is only 8m? Sorry to break it to you but you won't and there is no chance these jokers ever see 8m.

So you're the only one in the world who knew All Star wasn't getting $100M? Because you're so much more knowledgeable and intelligent than anyone involved in the case?

Of course the lawyers knew they weren't getting $100M off a small-time promoter's contractual dispute. 40% of $8.5M is $3.4M....and $3.4M is the case of a lifetime for a small local litigator in Florida.

Now the dynamic is the opposite of what you say it is...previously, All Star's lawyers were risking they would get nothing...now they know they have at least $3.4M...they're not backing off now.

BTW, there is no "court's ruling." The court never ruled there was no contract. If you're too simple to understand that it was the jury that concluded there wasn't a valid contract, then I don't know why I'm wasting my time responding to you.

Also, FYI, the fact that the jury ruled no valid contract doesn't decrease leverage at all. All Star's leverage comes from the finding of "unjust enrichment," which is just as powerful a legal theory as a valid contract.

[bigdunny1]

So you're the only one in the world who knew All Star wasn't getting $100M? Because you're so much more knowledgeable and intelligent than anyone involved in the case?

Of course the lawyers knew they weren't getting $100M off a small-time promoter's contractual dispute. 40% of $8.5M is $3.4M....and $3.4M is the case of a lifetime for a small local litigator in Florida.

Now the dynamic is the opposite of what you say it is...previously, All Star's lawyers were risking they would get nothing...now they know they have at least $3.4M...they're not backing off now.

BTW, there is no "court's ruling." The court never ruled there was no contract. If you're too simple to understand that it was the jury that concluded there wasn't a valid contract, then I don't know why I'm wasting my time responding to you.

Also, FYI, the fact that the jury ruled no valid contract doesn't decrease leverage at all. All Star's leverage comes from the finding of "unjust enrichment," which is just as powerful a legal theory as a valid contract.

It's not AT LEAST 3.4m you idiot that amount will go to appeals where it's highly likely the number get's dropped significantly. That means it's a risk that you take a paycheck NOW or you risk that amount going down. The appeal is not going to INCREASE the amount. So the lawyers filed for 100m and the promoter was talking big money all these years when all they wanted was 8mi with almost half of which goes to the lawyers? Get the F out of here. You had idiots saying that Golden Boy was to be screwed and file bankrupsty after the decision. That Canelo would be awarded to Allstar and that they would promote his next few fights. People saying they would win 20% cut out of all Canelo's past earnings. And instead Golden Boy don't them a dime and were exonerated eliminating a major amount of the damages they were requesting.

The lawyers will tell them lets broker a deal to make sure we get something because we could go to appeals rack up more costs this could get dragged on and the payout could be lower at the end of day. How much you think the lawyers have racked up in fees over these 5 years already and are they prepared to rack up even more as this could get locked up in appeals for YEARS. USFL won a decision over the NFL and appeals went on for 4 more years and the amount the finally took home was literally a couple bucks.

Golden Boy won because the courts said they don't have to pay a dime and are LIABLE for NOTHING because there was no valid contract! Canelo was the only party given a judgement against him but a fraction of what these guys were asking for and he will continue fighting it. And he has more resources to play this out for as long as it takes. Keep thinking these joke promoters who tried to extort Golden Boy came out on top. And trust no chance they ever see 8m.