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

[The plunger man]

Kind of sucks that in the US 18 can sign 4 year contracts but can't even drink.

I'm sure at 18 your we halfway through law school and worker on being a heart doctor at the same time...

Its no different shadow say for Rihanna or a young singer....if you sign a record contract for record company your tied to them so you have an obligation for so many albums you can't just randomly say ok I'm gonna go to another company and make music for them...if canelo wanted out of it then he should have contested it and done it the right way....it's like there saying Eric Gomez was involved well he's speak English and translates Spanish for canelo....I'm not a big fan of promotional company's but they do start you from scratch and get you known and out there so there should also be some kind loyalty from the fighter as well...Oscar basically poached a boxer from another company when there's a contract involved and it's morally wrong so they deserve what's coming there way..that's my view

[CmdrSoCal]

They should ask Canelo while he's on the stand and under oath - "do you EVER intend on fighting Golovkin?"

He already perjured himself while lying that he "no speaka any englis no undersand contrac". He also lied to millions after the tomato khan fight. Shameless.

[Motorcity Cobra]

February 23, 2011:

Bob Arum and Oscar De La Hoya made a ton of money during their eight years together (1992-2000).

But once De La Hoya, the former Olympic gold medalist and world champion in six different weight classes, mounted a successful lawsuit against Arum a decade ago to start his own Golden Boy Promotions, their relationship turned toxic.

“A dummy,” Arum called De La Hoya during a visit to Fort Lauderdale this week to promote the March 12 title bout between Miguel Cotto and Ricardo Mayorga.

Now, it seems De La Hoya’s business relationship with Floyd Mayweather Jr. has a lot to do with why the boxing world has yet to see him match up with Manny Pacquiao, Arum’s top client and a champion at eight different weight classes.

It also has led to a series of critical Twitter missives from De La Hoya toward Arum, the Top Rank, Inc., chairman. In one of them, issued in December, De La Hoya cites “all these dinosaurs” and says Arum “is 90 years old.”

This week in Fort Lauderdale, Arum fired back at his former protege.

“They’ve got no background in boxing,” Arum, actually 79, said Tuesday of the HBO matchmakers Golden Boy Promotions advises. “They rely on Oscar, who’s a dummy. Oscar is one of the ******est guys I’ve ever met. I’m just saying what it is. The guy is really not smart. Forget just ‘not smart.’ He’s not just even average.

“I remember when we were bringing him up, we’d have to write the whole script for him. Then you give him the script and he’s great, as long as you keep him on the script. To have an original thought in his head …”

http://blogs.sun-sentinel.com/sports...oya-again.html

Oscar won't be getting any Mensa newsletters anytime soon but that's just Bitter Bob. He called Donaire's wife a wh0re when he left him

[doninlouisiana]

It is not looking great for them. Personally I cannot believe they did not try to settle this up before going to court.

All Star was not interested in settling they want a jury verdict and punitive damages.

[1bad65]

We don't really know what role Schaefer had in all of this....we just know what Arum has alleged about the roles Schaefer/DLH played in this (which may have come from Zabala):

I wasn't saying Schaefer had a hand in this. My bad for not being clear.

I was just pointing out that it's looking like he left at the right time because ODL looks to be an idiot who may well run the company into the ground.

Now he may well have left because he was involved in shady stuff that was likely coming to light, but I don't know. imo the timing was either a big coincidence, or Schaefer was trying to get out before he went down with the ship.

http://www.boxingscene.com/arum-rich...int_friendly=1

Interesting...

Thanks for the link.

[Scipio2009]

Does Chepo speak/read English? Did someone run thru the contract with Canelo in Spanish? And if a person did was the person 100% honest with all the details? Lotsa questions that I haven't seen or don't know the answers to that would seem relevant, assuming you just aren't f#cked when you sign your name on the paper which seems to be the universal opinion of most, but still seems nuts to me.



So you're suggesting a hostile takeover via lawsuit kinda sorta? That really would be hitting the lottery for them. I still tend to doubt they'll win the $27M let along 3x that, cuz I can't believe GBP's only angle is going to be this Visa one. And even then giving someone 81M over a 180k investment seems a lil crazy too. Not saying that stranger things haven't happened it just seems like a long shot.

I have no idea how proficient 'Chepo' is in English, but the evidence seems to point to Alvarez and two witnesses signing the deal with All Star Boxing in 2008 (and I doubt that Golden Boy's contract with Alvarez was drafted in Spanish, so there goes that argument).

In terms of the money, I simply don't see where Oscar, after having to buy back the stakes in Golden Boy from AEG, the financial backer that Schaefer brought in, and Richard Schaefer to now own seemingly 95% of the company, has the wherewithall to handle an $80m hit without having the company fold, so I see Oscar looking to work a way out. (Combine the AEG stake, Schaefer's stake, and the stake from Schaefer's money man, and you're looking at almost 40% of the company being available, with Golden Boy having just signed Alvarez to a longterm deal in their own right). I think Oscar takes such a deal to save his company.

Rather than being stuck on the 180k figure, focus on the reality of the situation; in 2008, All Star Boxing bet on an 11-0, 18-year old fighter with minimal amateur experience and built said fighter into a full-blown star in Mexico. With Alvarez on the cusp of crossing over to the Latin American audience, Golden Boy swooped in and took their star from them.

Whether Alvarez would've become "Canelo" Alvarez (top boxing star) under All Star Boxing's guidance is beyond the point (the deal seemingly being legit, All Star Boxing would've been well within reason to have their fighter showcased on Golden Boy cards); All Star Boxing signed Alvarez, invested money in marketing him, and never got the chance to see the fruit of the work that they'd begun to do.

[Chuckguy]

Now I see why they didn't make the GGG fight. They don't want to lose more money to that promoter

[Eff Pandas]

(and I doubt that Golden Boy's contract with Alvarez was drafted in Spanish, so there goes that argument).

People keep bringing this up, but I don't know how its for sure an apples to apples comparison. If Oscar or some legal rep for Canelo legit broke down the details & ASB didn't there could still be an issue there as I see it. And regardless this trial isn't about Oscar's English contract its about ASB's English contract so idek if Oscar's contract is on trial like that necessarily either.

[The Problem Child]

HAHAHAHAHAHA!!!!

I LAUGH AT YOUR MISERY. **** THEM SO HARD. I hope they lose every single thing they own and end up homeless for being low life LYING SACK OF **** COWARDS!!

*points and laughs at your struggles* LMAO!!!! F YOUUU!!!

[URAGONAKO]

****... If Pacquiao can get away by signing with two promotional company why can't ConNelo?

Pacquiao got a bagful of benjamins from fishnets, I wonder what the fishnet gave ConNelo in return?