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

[Bronx2245]

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_seasonticket/2011/02/boxing-promoter-bob-arum-blasts-oscar-de-la-hoya-again.html

[MDPopescu]

Canelo was young, but of legal age when he signed the contract with ASB. He turned 18 in July 2008 & signed in September of that year. Oscar did pull a snake move though, albeit a very ****** one- that is now biting him through his fishnet stockings & in his ass!

Oscar must have told him: "Relax, kid, big Oscar will fix everything just fine for you! Sign here, kid..."

(I'm not a Canelo's fan...)

[The plunger man]

I'm not saying this is ASB's problem. I'm not saying this is even Canelo's problem. This is clearly GBP's problem.

I guess super binding contracts sound a lil nuts to me. Like you write your name on a piece of paper with some other typed words on it & you could have totally f#cked up your life. That all seems a lil ridiculous to me that words on paper can f#ck **** up so bad for someone.

And I'm not even saying this in regards to this situation necessarily, I'm saying in general. All these mfers in this courtroom are gonna be doing fine whatever happens in this case, just some a lil better or worse than others is all that changes for them so its not THAT big a deal in the grand scheme of things for any of this cats really, but lotsa regular cats get put into ****ty situations cuz of sketchy contracts & not being smart enough to know what things mean or even to read or look into the possible ramifications of putting their name on a piece of paper. I mean it is what is it, but it seems like the way it is is a lil f#cked up cuz the cost is a lot of less than well off people get f#cked over from the ****** to the desperate to the elderly.

/rant lol

It's as much canelos problem as goldenboy...he decided to jump ship and sign when he was in a binding contract...that shows low morals and greed and if your willing to break a binding contract and jump ship the gingers at fault as well....remember every action brings a reaction...I'm a firm believer you reap what you sow and canelo was just as treacherous as GBP

[Larry the boss]

But he thought it was a Visa doe...lol

[Eff Pandas]

I'm pretty sure that Saul Alvarez and camp ("Chepo" Reynoso looking after him) had someone present to translate things from English to Spanish for them, as the terms were being ticked through;

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.

how much of Golden Boy Promotions could Zabala take to have the other $60m go away?

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.

[Swatty]

Should have asked for the case at 155.

...^^^^^^^^!!!!!!!!!!!!!!!!!!!!!

[Swatty]

I'm not saying this is ASB's problem. I'm not saying this is even Canelo's problem. This is clearly GBP's problem.

I guess super binding contracts sound a lil nuts to me. Like you write your name on a piece of paper with some other typed words on it & you could have totally f#cked up your life. That all seems a lil ridiculous to me that words on paper can f#ck **** up so bad for someone.

And I'm not even saying this in regards to this situation necessarily, I'm saying in general. All these mfers in this courtroom are gonna be doing fine whatever happens in this case, just some a lil better or worse than others is all that changes for them so its not THAT big a deal in the grand scheme of things for any of this cats really, but lotsa regular cats get put into ****ty situations cuz of sketchy contracts & not being smart enough to know what things mean or even to read or look into the possible ramifications of putting their name on a piece of paper. I mean it is what is it, but it seems like the way it is is a lil f#cked up cuz the cost is a lot of less than well off people get f#cked over from the ****** to the desperate to the elderly.

/rant lol

Excellent rant!!!

[Shadoww702]

It's as much canelos problem as goldenboy...he decided to jump ship and sign when he was in a binding contract...that shows low morals and greed and if your willing to break a binding contract and jump ship the gingers at fault as well....remember every action brings a reaction...I'm a firm believer you reap what you sow and canelo was just as treacherous as GBP

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...

[-Kev-]

Damn that does not sound good at all. Sounds like Canelo/GBP outright and deliberately just violated All Star with no thought of consequences. Talk about being impulsive. Maybe DLH thought he'd make so much money from Canelo that he can just pay off All Star if they sued but that's not the case with $27mill in damages plus possibly more

Say what you want about Haymon and how he obtained his fighters but he did it the right way. When he got Mayweather out of TR, he helped Mayweather do it legally, bought out his contract for $750k. GBP did not help Canelo the same way at all, they were very impulsive in this situation. Canelo was like 19 years old, the people around him should have helped him a lot more

You are probably not going to be a legal wizard at 19 unless you go out of your way to do so because you're an aspiring lawyer or something. Canelo was clearly whispered in his ears from adults who seemingly knew a lot more about the game and he listened to them

[Mitchell Kane]

Looks like Richard Schaefer abandoned ship at just the right time.

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):

"In my opinion, Richard Schaefer is an evil man and he did bad things. What he did to 'Tutico' Zabala and Canelo was bad. De La Hoya tried to negotiate with Zabala, but Schaefer told him not to because [Zabala] did not have the money to compete."

http://www.boxingscene.com/arum-richard-schaefer-an-evil-man-bad-things--78656?print_friendly=1