Oscar De La Hoya and Schaefer reach settlement - GB Loses Big Names

Oscar De La Hoya’s Golden Boy Promotions and the company’s former chief executive, Richard Schaefer, reached a settlement Friday, a Golden Boy spokesman confirmed to the Los Angeles Times.

“It’s an exciting day for our company,” said a source close to Golden Boy, not authorized to speak publicly on the matter due to terms of the settlement. “We can go back to the roots of our company, back to the way of operating to give the fans the fights they want to see.”

The Golden Boy official declined to reveal any financial specifics of the deal, and a source familiar with the settlement said Schaefer will be “blocked for a period of time” from working in boxing promotion, but the official did not specify the time frame of that hiatus.

The settlement has Golden Boy Promotions severing ties with several Haymon fighters who functioned on fight-by-fight deals with the company, most notably unbeaten junior-welterweight world champion Danny Garcia (29-0), former lightweight and super-featherweight world champion Adrien Broner (29-1), middleweight champion Daniel Jacobs (28-1) and former welterweight champion Marcos Maidana (35-5).

Yet, Golden Boy will continue to promote other Haymon fighters it has under existing and separate promotional contracts, including super-bantamweight champion Leo Santa Cruz, former junior-welterweight champion Amir Khan and junior-welterweight Lucas Matthysse.

http://www.latimes.com/sports/sportsnow/la-sp-sn-boxing-de-la-hoya-schaefer-settlement-boxing-haymon-20150109-story.html

They'll keep hold of Khan, because he is share holder in Golden Boy, but they've lost good fighters, Roc Nation had a $40 Million, 5 year deal offer to broner turned down, because Broner felt he was worth more.

Schaefer = bad for boxing protects his fighters.

Schaefer + Haymon = double bad.


Why you think Floyd loves Schaeder so much?

Broner turned down $40 million? He needs to understand he was a pantomime villain, people only care about pantomime villains in the hope that they get their comeuppance.. He already got his, and got it bad. Think 40 million was a generous offer (especially if it has bonuses).

I agree King. 40 million over 5 years??? That's a hell of a nice wage for 2 fights a year. That's 10 fights....4 million per fight....with potential bonus?! Why WOULDNT you take it?

Not only that, but his "aura" is gone since getting battered by Maidana and embarrassed.

Malignaggi beat him for Christ sake....in my eyes...

If he gets any more then he will be very very VERY LUCKY.

He ain't worth it and isn't good enough. Simple as that.

Adrian Broner isnt about millions. He is About Billions.

mobilemaster8 wrote:I agree King. 40 million over 5 years??? That's a hell of a nice wage for 2 fights a year. That's 10 fights....4 million per fight....with potential bonus?! Why WOULDNT you take it?

Not only that, but his "aura" is gone since getting battered by Maidana and embarrassed.

Malignaggi beat him for Christ sake....in my eyes...

If he gets any more then he will be very very VERY LUCKY.

He ain't worth it and isn't good enough. Simple as that.

He turned it down because broner said he is scheduled to fight 4 times a year thats 2 mill per fight - still great, he still has potential, whats not to say in 2 years time (8 fights) he wont be a big star, what if he manages to beat mathysse, Maidana, maybe a garcia, he should be earning more than 2 million per fight then, then again thats a lot of ifs and as it stands now 40 million was a good offer, even if he fights 4 times a year

catchweight wrote:Adrian Broner isnt about millions. He is About Billions.

How did you get a scale big enough to find out?

Big turning point for Boxing. Now allows Haymon to set up his boxing shows. He still needs a promoter (due to the 'Ali Act') and Eddie Hearn seems to want in.

ShahenshahG wrote:

catchweight wrote:Adrian Broner isnt about millions. He is About Billions.

How did you get a scale big enough to find out?

Yeah I think he gets beaten by Pacquiao, Mayweather,Maidana (again), Marquez, Brook, Khan, Thurman, Matthysse....Bradley..in fact I think he beats Rios....or Provodnikov....and maybe D.Garcia....maybe. But going into the top 10....he gets beat....handily.

In addition to settling with Schaefer, the sources also said that De La Hoya severed ties with most of the Haymon fighters that Golden Boy had been promoting on a fight-by-fight basis in return for what one of the sources said was "substantial financial compensation" from Haymon.

So while Golden Boy will likely receive millions of dollars, it also means numerous big-name fighters, many built over the years by Golden Boy, will no longer be associated with the company. They include Danny Garcia, Keith Thurman, Marcos Maidana, Lamont Peterson, Adrien Broner, Peter Quillin, Erislandy Lara, Daniel Jacobs, Abner Mares, Andre Berto, Victor Ortiz, Devon Alexander, Shawn Porter, Robert Guerrero and heavyweight contender Deontay Wilder, who will have his final Golden Boy fight on Jan. 17 at the MGM Grand in Las Vegas, where he will have a chance to win a world title against Bermane Stiverne.

Also leaving Golden Boy are several 2012 U.S. Olympians, including welterweight Errol Spence Jr., and light heavyweight Marcus Browne, two of boxing's most promising prospects.

http://espn.go.com/boxing/story/_/id/12148002/oscar-de-la-hoya-richard-schaefer-reach-settlement

You get the feeling that this was a plan that was carefully constructed and a long time in the making. I think de la Hoya has had his pants pulled down here while entrusting that greaseball Schaeffer to handle the company. He realised too little, too late what was about to go down.

catchweight wrote:You get the feeling that this was a plan that was carefully constructed and a long time in the making. I think de la Hoya has had his pants pulled down here while entrusting that greaseball Schaeffer to handle the company. He realised too little, too late what was about to go down.

Weird that, you would think successful bankers who love money, would be very loyal to a friend...

To be fair, Dela Hoya was busy juggling alcoholism, drug problems, crossdressing (not that there's anything wrong with it) and infidelity. Anyone of us could have offered to look after the company while he fixed himself and he'd have happily taken you up.

What I dont get is how they end up making so much money under Haymon? Like he matches them against B/C level fighters and they make high purses, like who's paying for this

This is a real blow Haymon needs top leave the game alongside Schaefer or 2015 could be worse than 2014 which was a poor year for boxing

Broner is a fool and will get flattened by the next natural welterweight he fightsd

The networks (well network, Showtime) pay. It sounds crazy but Haymon has them by the ballw because he has the biggest cash cow of them all in Mayweather. Showtime don't mind bowing to him here and there because a good Mayweather night makes it all worth it. The other thing is networks normally have a decent kitty for champions, it's just that the kitty has to be divided by two reasonably large names. With Haymon, his fighters fight bums (slight exaggeration) and the fighters get paid bums purses while his guys get a bigger share of the loot.

An example would be Stevenson. HBO put up maybe $3 million total for the Kovalev fight... at about fifty fifty. Showtime put maybe $2.2 million for the Fonfara fight, but Stevenson being such a huge name gets $2 million.

Wonder why Showtime loves him when he stinks and only fights Stiffs..

Fancy that !!!.

Khan must be a little stiff with being left with Oscar. Can't see a fight with Mayweather happening.

Khan has given PBF a 'five day ultimatum' apparently. Do wish Khan would take his focus off Mayweather.

If, as I'd suspect, Floyd doesn't come close to confirming something in the next week or so then Khan should try showing him what he's missing and do a big stadium fight against Brook, sell more seats than Mayweather ever does (US PPV being his prime source of revenue).

Khan can be a bit of a numpty but he's seriously talented still and one of the top guys in the division.

Think Broner is too greedy, definitely talented but definitely over-inflated opinion of self-worth. I just don't see him beating many, if any, top names at 147 and above. He scraped past a boxer in Paulie and was whooped by a brawler in Maidana. Two different styles yet he couldn't really cope with either - and neither are Top 5, really.

$40m is still an exceptional amount of money, no matter how you want to cut it.

TopHat24/7 wrote:Khan has given PBF a 'five day ultimatum' apparently.  Do wish Khan would take his focus off Mayweather.

If, as I'd suspect, Floyd doesn't come close to confirming something in the next week or so then Khan should try showing him what he's missing and do a big stadium fight against Brook, sell more seats than Mayweather ever does (US PPV being his prime source of revenue)..

Haven't you heard........Apparently Brook sells as many tickets as Khan...