Bob Arum the CEO of Top Rank has been on a heated argument against Oscar De La Hoya and his Golden Boy Promotions.
Oscar De La Hoya said that "boxing would be in a much better position if only one core promotional company is running the fights and major televison dates, and that company should be Golden Boy."
He further said "We need to sign all the talent and get all the TV dates. Then you can have your own agenda and have a schedule for the fans and the sport," said De La Hoya. "You can do a monthly pay per view, a bi-weekly HBO fight, you can have the best fighters fight each other. When you have five or six promoters, it's very difficult."
Obviously Bob Arum doesn't like what Oscar said because he also wants his Top Rank to be the number one boxing promotional company in the world.
Bob Arum said "There's one word to describe Oscar, and his commentary, and that's pathetic. I mean, this guy is really so dumb. Anybody that pays any attention to what he says has to be stup*d; That's all that I have to say about it. I mean, I'm not going to give a rebuttal to it," said Arum. "It's preposterous. What do you do, get angry at it? He's just simply pathetic. That's my crituque on this, that it's pathetic."
In the last few weeks these two companies have been in a heated argument over the rights of some big fight like that of Mosley and others. In effect the Golden Boy Promotions filed a lawsuit in the District Court of Nevada against Arum and his company for having committed fraud and racketeering and they are asking for danos perwicios or civil damages amounting to 5 million dollars.
The other cause of action would be the percentages of profit that the Golden Boy Promotions are asking for the big fights of Pacquiao against David Diaz, Miguel Cotto, and Joshua Clottey. The said percentages for being a co-promoter should amount to million dollars.
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