CA-based Golden Boy Promotions
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CONTINUING COVERAGE:
Intro: In a hastily prepared statement released by Manny Pacquiao's camp in the Philippines, the Filipino icon is readying a legal battle as a plaintiff against Floyd Mayweather, Jr's camp as well as Golden Boy Promotions (GBP). This lawsuit exposes a systemic flaw in boxing that warrants congressional and / or state legislation(s). That fundamental flaw is this: non-exclusive promoters can initiate actions against the best interests of their client(s).
In other fields, such as investment banking, this is legally a big no-no. It is called "self-dealing." (Okay, we concede that it still goes on, albeit unethically and deplorably, and in some cases, against the stipulations of the law. But bankers like stashes of cash despite legal parameters.) You think Top Rank is Manny's promoter? Actually, GBP is a co-promoter. Ding Ding! Anybody there?
[ ARTICLE >> 20 Boxers Who Tested Positive ]
GBP and Top Rank >
GBP represents Mayweather in the potential March 13 showdown. Technically, GBP's client is Manny Pacquiao. Check out their website (Link), they proudly list the WBO welterweight champion as one of their fighters. Every time Pacquiao fights, GBP gets a percentage of the earnings of the Philippine-based fighter. We surmise this fee sums up to a seven-figure commision if there is indeed a March 13th mega-showdown.
Top Rank is the Filipino's lead promoter, but GBP is a partial promoter - a partner. In 2007, around the time of the Marco Antonio Barrera fight, Oscar de la Hoya snagged Pacquiao into GBP supposedly by giving him a briefcase of cash. Manny signed the contract. Top Rank and GBP went to court, and eventually agreed to a settlement. The boxing aquarium is small and there are two big gold fishes always fighting over fish food and oxygen. Top Rank and GBP would co-promote Pacquiao, and Oscar's boys get a cut of the financial pie so that its brotherly fraternity could eat pugilistic pizza.
Manny Pacquiao, the client, in 2009 (LA Times)
Promotion Rewind >
Let's review the Filipino's representation the past few years (the pre-Michael Koncz era, so to speak). Freddie Roach joined Manny in protesting former promoter Murad Muhammad per a gloves controversy after the Erik Morales loss in 2005. Roach argued that using the Japanese "Winning" gloves lessened the impact of Pacquiao’s power. "Winning" gloves have additional foam padding, and are often referred to as "pillows." They can also be harder to grip. Cleto Reyes, on the other hand, can often have the opponent physically feel the knuckles of the brutal puncher. There is less padding. These are made in Mexico, and have a reputation for being easier to grip and make a fist with. (The late Rod Nazario took over Manny’s original manager in the Philippines Polding Corea, in the late 1990s. Dizon Cordero, a neighbor, was the Filipino’s first trainer.)
Nazario brought in Muhammad as U.S. promoter for the then-unknown Filipino, when no other promoter was interested in him. In a matter of a few weeks, Pacquiao would face Lelohonolo Ledwaba, winning a convincing 6th round TKO for the IBF super bantamweight belt. Muhammad got an early start in the sport by traveling with Muhammad Ali as a personal assistant and bodyguard. He started when he was only 16. He had worked with the likes of Wilfredo Gomez, Larry Holmes, Donovan “Razor” Ruddock, and James “Bonecrusher” Smith.
Gordon Gekko in "Wall Street" (1987): "Greed is good."
In late spring 2005, Pacquiao filed suit against Muhammad claiming that he was bilked out of more than 30 percent of his purse, and additionally was left with a big tax liability. In a statement, “It has taken me a while to come to terms with the fact that I have been cheated by people whom I trusted. I intend to see this suit to the bitter end so that I can recover every dollar that was stolen from me, as well as help protect other fighters from being taken advantage of by Mr. Muhammad.” In summer 2005, the two camps settled out of court. No further details were added except that Manny was being freed from the rest of his contractual obligations with the promoter, he was dropping his suit, and in turn, Muhammad would withdraw his counter-suit.
Gary Shaw would step in as Manny’s new promoter after Murad Muhammad. The gloves debacle (the contractual oversight during the first Erik Morales fight) had also left a bad taste. Manager Rod Nazario also stepped down.
Greed is Good? >
Let's not mince words. Whoever gives you a paycheck is your client. Sure, it is a non-exclusive client, but still a client. There is a formalized, contractual relationship. Fiduciary duty. You help your client win in the marketplace. The service profession can be honorable. I had a high net worth client who owned a $25 million construction company - highly decent, extremely admirable man. This ex-advisor went to work every day with a burning purpose to try and bat a grand slam for this guy (and his benchmark-caliber company). Fiduciary duty. No middle ground. You wear the uniform. The guy next to you is your brother-in-arms in the trenches. You salute the flag. You belong.
In the classic 1980s movie "Wall Street," the character (and business titan) Gordon Gekko - in one of cinema's most famous lines - extolled his fellow shareholders that "greed is good." Mayweather has never officially joined GBP. He goes by the so-called Mayweather Promotions. Al Haymon and Leonard Ellerbe. But being the principal, the Mayweathers call the shots. Mayweather and GBP have a one-off arrangement. One time transaction. One night stand. We don't like each other but let's make money.
Did GBP act in the best interest of its clients? Try Juan Manuel Marquez. Poor guy agreed to 144 lbs in September. Floyd ignores this and comes in at 146 lbs. A $600,000 fine out of a $15 million guaranteed purse. That's 4%. Not including pay-per-view (PPV) incentives. Try Manny Pacquiao. Since 2007, the guy has been paying GBP's bills. Keeping the electricity and water running in its Los Angeles office. Presumably the Filipino has paid millions in fees to Oscar's boys only club. That's a lot of Philippine pesos. Now the client is having to sue GBP as part of false steroid accusations hurled on the pound for pound king. When the Mayweathers make doping accusations, your advisor - who gets paid millions - don't defend you, huh. Let the client hang to dry. Let the vultures feed off him. Nice. Bite the hand that feeds you. Just as long as you pay us the contractually agreed percentage fees. Nothing more.
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[ Article >> 20 Boxers Who Tested Positive ]
[ Article >> Pac-Mosley Now The Best Fight of 2010 ]
[ Article >> Blood Tests: Principles Matter ]
Senator John McCain (R) of Arizona (NBC)
Why the One-Off? >
Floyd and Oscar don't like each other. But GBP wants boatloads of cash. If the bout happens, they get money from both parties: from Floyd and Manny. This is wrong. This is unethical. There should be legislation to ban this practice. So Floyd pays you, so that you try to make sure that Manny loses. But at the same time, Manny is also paying you. So you justify your actions that "well, we are promoting Manny's event, so it's all good. He's getting a different kind of service" We don't buy it.
Pacquiao is preparing a lawsuit against the Mayweathers and GBP. Technically, the Filipino is one of GBP's clients. They will likely attempt an out-of-court settlement - quietly. Fiduciary duty is helping the hand that feeds you - not backstab it. Mercenary model. Work for anyone who pays you - no matter what they stand for. When you agree with everything, you stand for nothing.
Senator John McCain has helped with two boxing-related legislations. His Republican team is needed on a third. Boxing may be a business. But the best companies treat their customers as kings. There is also an underlying moral justification for banning the aforementioned practice. Perhaps the greatest "pound for pound" philosopher of the last 500 years is Immanuel Kant. In his most persuasive views that have since shaped the world: you treat people with respect and dignity, not for what they can do for you, but because they are people. People are ends in themselves. You treat them with respect and decency for who they are, because you respect each individual's humanity . . .
Marv Dumon, All Rights Reserved, 2009
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Harvard University Lecture: Ethics / Justice and Immanuel Kant
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W e e k e n d F e a t u r e >
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>> MOVIE PHOTOS: "Avatar"
20th Century Fox's "Avatar" is the most expensive movie ever created. Having recently seen "Avatar" in 3D, the experience was surreal and absolutely amazing. That the ticket was a paltry $11 is a testament to the free market's ability to deliver tremendous value when global scale is involved. $11. Moviegoers should have paid $1,000 each to watch this technological marvel. The story was more familiar. The Last Samurai and Dances with Wolves offer familiar plots.
Reportedly, the movie studio needs to rake in $750 million just to brake even. Production costs ran to nearly $300 million, and the financial backers spent a war chest on promotions and marketing. The opening weekend tallied $77 million. Roughly 10% of break even numbers. Looks like there's an uphill climb in this economy.
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Articles >
Individuals who have attained success may be in the best position to understand Manny Pacquiao's experience of success. Today, he is considered Fighter of the Decade. And there are dozens of adulating fans and well-wishers who perpetually swarm the "People's Champ." The vast majority of successful people traversed the early stages of their own journey by themselves, alone . . . . Read More
Nearly 2,500 years ago, Chinese military strategist Sun Tzu declared in his timeless treatise The Art of War: "The battle is won before it is fought." The actual battle itself is but the fourth and last element - not the first - in the four variables that decide a contest . . . Read More
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There is one singular strategy that has never been employed against Floyd Mayweather, Jr. Using it would leverage the element of surprise - which is a critical variable in war. It is a tactic that has been successfully used before, and a technique that plays to Floyd's weaknesses. We believe that this plan will also be employed by Freddie Roach to play to Mayweather's massive ego . . . Read More
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Conflicting reports in the media are arising regarding the ongoing negotiations of Manny Pacquiao's and Floyd Mayweather's camps.WBO welterweight champion Manny Pacquiao (and Philippine congressional candidate) has signed the contract to fight former pound-for-pound king Floyd . . . Read More
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WBO welterweight champion Manny Pacquiao (50 - 3 - 2) has agreed to a March 13, 2010 super fight date with Floyd Mayweather, Jr (40 - 0), as conveyed by Pacquiao advisor Michael Koncz. . . . Read More
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We explore four boxers that have given Mayweather, Jr ( either temporary or sustained ) problems in the ring. There are several potential reasons for avoiding the welterweights in his division. Floyd encountered problems with these four boxers, and those avoided welterweights would exacerbate Floyd's . . . Read More
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Manny Pacquiao is our psyche’s physical manifestation of a warrior archetype. Carl Jung, the famous 20th-century Swiss psychiatrist, regarded an archetype as a psychological organ ( similar to that of a biological organ ) – an evolutionary construct that has morphed within our minds; shaped by ancestral human . . . Read More
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Marv Dumon: "You caused the stoppage, give me your thought process on that."
Referee Kenny Bayless: "Well at the point of the stoppage, Cotto's tank had basically ran out. He was moving around just to survive the 12 rounds. He wasn't really throwing punches. Though he was hitting Pacquiao with some good jabs, I was waiting for the opportunity on a good flurry to stop it because I didn't want Miguel to take any . . . Read More
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We provide an alternative explanation of what happened during the Manny Pacquiao vs. Miguel Cotto. We believe the strategy "Master" Freddie Roach employed against the bigger Puerto Rican was far "more than meets the eye." Roach stated to the general public that his pupil would attack the then-welterweight champion similar to how Pacquiao attacked Ricky Hatton. Roach declared that Pacquiao would knock out Cotto in the first round. This was an easy deception to detect. In the words of Sun Tzu: "All warfare is based on deception . . . Read More
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Comments
If such promoter were part of the conspiracy to malign you, why not?
Marv, you are a genius!
That's quite an angle. GBP will have to settle to avoid exacerbating conflict of interest issues.
Floyd will have to dig in, incur (hopefully massive) legal fees, and indeed, shut TF up right away. Anything he says can be and will be used against him.
Good move, PacMan!
wahahahaha!!!i wonder how much the cost of the damage did GBP and gayweathers will be... manny will receive his paycheck before the match is made.. lol
Good Article. GBP will be singing a new tune now, because Nathanielz was a witness when Two Faced Shcaeffer made a comment about Manny being on PED.
They have a vendetta against Manny becaused he spurned them and stayed with Top Rank and gave DeLaHoya the BEATING of his life which is the lasting memory that he will be remembered by.
As for Gayweathers, they're a family of crackheads. You don't need to look far, just look at chicken sr.
Did you see how Oscar and Shaefer paniked in Ring Magazine?Both are in a race to deny what they have said.Ring Magazine is owned by GBP of course.If Manny will pursue this case and wins it.He can retire with his legacy intact.Pound for Pound No 1,IN AND OUT of the the ring.I hope he will not forget to include Cintron,Malinaggi,and a part of the media who allowed themselves to be tools for this slander and defammation
Pacquiao did the right thing, a decent way of settling the score, sue these idiots...GBP should be ashamed of itself, how could you treat Pacquiao the way you are treating him...he's been feeding you and what did you do? SHAME ON YOU...
TO ALL PBFjr FANS:
START SPARING SOME OF YOUR ALLOWANCES AND SALARIES FOR DONATION TO GAYWEATHER SR AND JR AS THEY ARE ABOUT TO FACE LAWSUITS AND WILL DEFINITELY PAY HUGELY FOR IT.
FOR A SUGGESTION, IT'S NOT YET TOO LATE FOR CAROLING ON YOUR STREETS. OR YOU CAN EVEN ASK YOUR IDOL'S SPARE TIME TO CHOREO SOME DANCE PRESENTATIONS SINCE HE'S GOOD AT IT IN DANCING WITH THE STARS. THINK OF IT: A MILLION OF YOU WITH 10 DOLLARS EACH CAN BE TRANSLATED TO 10 MILLION WHICH IS OF GREAT HELP TO YOUR IDOL'S BILLS AND DAMAGES.
NYAHAHAHA!!!
Olympic type of blood & urine testings found nothing on my mom except her hemorrhoids. Then they gave her a clean bill of health
Nevada Athletic Commission tested my mom and they detected herpes simplex, gonorrhea, syphilis, but not her hemorrhoids.
what does that tell about the accuracy of these tests?
What boxing need is a one governing body, one regulatory body that supervises boxing whether it is WBC,WBC,WBO,IBF etc etc.
This way, boxing and boxers are protected against malicious comments and imputations.
Just like the NBA, there is gag order in saying bad against the officiating, against the referee or against the players when NBA is in season.
There is a problem when writers allow their imaginations to fly out of the sphere of their education. This writer's little knowledge of law looks big and factual because of his talent for writing. But let me pose this question to this airhead: Have you ever heard of the legal term "breach of fiduciary duty".
So what? They are trying to destroy his good reputation by joining the mayweathers in spreading baseless accusation.Pacman's fans are affected more, the wole filipino community is hurt. Go Manny, hit them where it hurts most.
Its unprecedented, where is the bylaws, the governing bodies. One coward guy dictating what and how to do in boxing before and after the fight. If those bodies or organizations in relations to boxing will voice/s their opinion. This matter will not last for a day!, believe me -frm KSA.
SCHAFER THE NO BRAINER AND GOLDEN BOY PROMOTIONS ARE ALL SC*MBAG ! ! ! THEY DONT TAKE CARE OF THEIR CLIENTS AND THEY ONLY LIKE TO SIP JUICE ON THE T*TS OF MANNY THE MAN ! ! !
TO SCHAFER THE NO BRAINER AND GOLDEN BOY PROMOTIONS, CLOSE YOUR OFFICE AND GO TO AMAZON AND ESTABLISH YOUR FIGHTERS THERE ! ! ! YOU ALL AND THE GAYWEATHER CAMP ARE ALL THE GREATEST SC*MBAG OF ALL TIME ! ! ! ! ! !
Another excellent article by Mr Marv. Schaeffer once said "We'd all have to be morons not to let this happen". Well Schaeffer, you are the mother of all morons. You are a disgrace in boxing, hope you just go back being a banker.
floyd,fraud and flawed Mayweather's jr and sr. your true color speaks to yourself,be a man, if i were your oppenent this aborted match, i don't have a second thought, you are a true coward boxer,you select only whom you want to fight. be fair
Mayweathers sux dick
so, with all of this clear details and history, GBP, has the right to malign Pacman. Your conclusion will shows your breeding, oh! boy.
very good mr. dumon.
this is also why suing gbp (golden boy promotions) will make this fact clearer to one and all; how very unfair, double-dealing and dishonorable gbp is in the treatment of those who make income for them --goes to show also how far (south) from his original image dela hoya has sadly become.
hopefully in the long run, the great boxers who think long-term will avoid giving business to gbp
I think Schaefer,the Swedish man is now getting nervous.
Being swede means he is not an american citizen and the court will look into that.
The INS is in standby for deportation.
Oscar delahoya is the architect all of this mind games as revenge against Pacquiao who got coflict with Oscar before about promotional contract. Actually Floyd jr. don't want to fight Pacquiao to risk his zero record of not confident of winning the fight. Oscar is just using Floyd jr. as a tool of destroying Pacquiao image.
@asskick: what?!? the writer is practically describing the breach of fiduciary duty that GBP has apparently committed against Pacquiao. you're the airhead, it seems, for failing to comprehend what the writer is trying to say. dumbass.
Come to think of it, mayweathers are really way way way ahead of everything. The unsespecting crowd were fooled again, floyd finally came up with an orchestration to scape the fight. Mayweather-schaefer's team's guts and calous face are un-imaginable. No integrity at all. I say Yuri foreman vs paquaio! it will be bigger than paquiao vs maywaether, Go pacquaio take that eight title of yours! make mayweather drown in jealousy
richard schafer and oscar dela hoya are hypocrite both of you just jealous because all of your boxer including oscar were humiliated by manny . the mayweather's are arrogant typical african american a....les like kanye west. they are very good model for the young american negro.
very good article. well presented. Keep up the good work marv. To PACMAN, Sue them with millions of Dollars. You can earn more on this than fighting the chicken on the ring.
ofcourse golden gay dela hoya will side w/ me.. coz we are both american gays. we eat balls as breakfast. i ate my own balls that is why i have no balls. we will eat pacman's balls.
if ur a man mayweather jr!!!!face pacman and stop ur big mouth.......if i were u,,,go home and sleep.......
De la hoya, its just jealous of the accomplishment of pacman. malignanni just want to be in circle of the elite which he has no place . he just want a piece of the pie. i think he is using someting too, when he beat diaz. enhancer of some sort. just a thought.
let's do a simple physical test.
let both floyd and pacman stands by each other side by side. look closely who appears to be bloated and has an evidence of putting something in his own system to become BIG.
They had a gag order in placed but Mayweather is the boss. I just don’t understand why De La Hoya had to say something. I lost respect at him already. I thought he is up there. I wonder how much Mayweather paid him.
Manny will win in his court battle against Mayweather sr, jr,GBP and all the writers who's defaming and slandering him. He will win millions of dollars for the FILIPINOS ,Pacman will give all the money to the poor people of the Philippines !!!
Pacman The Greatest Ever will pummel Floyd in and out of the ring, he can bring along his Dad, Uncles Roger and Jeff, Schaefers, dela Hoyas, Malignaggis, Cintrons if he is so afraid of Pacman...hahahahaha
chicken girl duckwether will not fight pacman.. she really is scared of pacman. so many demands & alibis. she is doing impossible demands just for this fight not to happen. why not just admit that you dont want to fight pacman?
beware floyd.. pacman will kill you in the ring. you better backout if you still have time. you are destined to lose to pacman, i know you can feel it.
pacman is destined to become the greatest boxer of all time. nothing can stop that, not even you. you will just be one of his victims. you will eat all your words. you will be humiliated.
you will lose devastatingly.. repent now you evil floyd.
Reading your articles for quite sometime, I have noticed most of your articles are based very much in detailed history. I guess you google a lot. Sometimes one must lead to do something to prevent this kind of practice. I support Team Pacquiao by suing them because these people need to be carefull when they have the urge badmouthing someone next time. Many boxing promoters are going beyond their moral ethics using their power and money over boxers. Win or loose a lot of fans behind and support Pacquiao on this lawsuit, if he wins this will be good for a lot of boxers, if he looses at least he got their attention. But I suggest let the "real judge" decides the morality and legality of this case. Perhaps this particular judge who will handle the case have a courage to stop this unethical practice. To Pacquiao and his team, give them no mercy!
schafer the no brainer and GBP and the gayweather camp are ALL SCUMBAG ! ! !
pls understand me.. me & pretty girl floyd are both gays. i offered pacman a one night stand. i actualy gave him 250,000 dollars as down payment, but what did he do? he turned my beauty down. i hate him for that. now he will taste my revenge.. if i cant suck your dick i will suck your blood!
OSCAR, SCHAEFER,GOLDENBOY PROMOTIONS & MAYWEATHERS = SCUMBAGS OF BOXING !!! TIME TO CLEAN BOXING, LAWSUIT SHOULD BANKCRUPT THESE CHEATERS!!!
my take despite all of these: the ploys of the Mayweathers typically backfired against them in the sense that Floyd never really wanted to fight pacman onthe stipulated March-13 date, totally unprepared so they lashed out whatever they can loudmouth to the public. but the strategists in Pacquiao's camp just needs the right timing to execute their (counter) plan for GBP & the Mayweathers to clearly understand, that is they'll be beaten outside the ring before an actual with this legal battle, that's why it doesn't matter at first to team MP about the split of the fight purse. eventually after the Mayweathers settle to pay Manny on the result of this ridiculous case, they'll blame each other and would become desperate to fight the pacman to recover some financial losses, so their ploy of distracting Manny's anticipation & training for their supposed fight will become their own dillema. so pacman will end up beating Floyd at a later date in 2010 then perhaps secure an 8th title before ret
Brilliancy move Manny! They spread lies on press release all over the world. You file a claim of damages as high as Empire State Building. Mayweathers & cohorts start counting your money now,you let us suffer so much. That could have been the greatest fight of the century. Atong tan-awon, Congressman, magpakilooy tingali nimo. Boss Manny, i-gamay lang ang amount dili 800,000,000 million dollar.
lot of things happenned just because of drama being orchestrated by a high school dropped out. all we want is a great fight between two fighter, a great one vs the big mouth. let's get to rumbleeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
GBP'S CODE OF CONDUCT = IF YOU CAN'T BEAT EM'. CHEAT OR SMEAR THEM!!!!
This fight has to happen, Pacquiao don't have to go to court just meet their demands blood test and all Mayweather same procedure random blood test and all fair and square, beat that Pussy Mayweather then go to court.
gaywether jr is afraid to lose. a real warrior doesnt mind if he win or lose as long he fights! a real fighter gets into the battle without any hesitation, do or die.
floyd is not a warrior or a figther. he is coward & it shows.
floyd, pls stop pretending that you are the best. you are nothing compared to pacman.
you clearly cheated marquez in your bout! only fools & stupid people will agree with you that you won fair & aquare against marquez.
you will taste pacman's wrath if you ever come cross with him in the ring. you're going down! mark my word.
To the author,
I believe GBP gets a take on Pac IF and WHEN Pac fights with a GBP fighter. In that case, GBP and Top Rank shares. I assume TR gets the bigger percentage. But if Pac fights a non-GBP fighter, all income goes to TR and GBP doesn't get anything out of it.
Brilliant.
Read it 3 times already.
-thanks
Pacquiao don't need to panic for this baseless accusation if he is really sincere of being clean. If you are on the top usually those jealous people will pull down or even kill you. NAC cleared that you passed all the test required and the legacy is already cemented by winning those fight inside the ring. Suing GBP and his cohorts is a long process of no assurance of winning. Justice deny justice delay.
Oscar said Manny is taking STEREOS! Damn, Manny already has that and PLAYSTATION too!!!
Kurakot lawyers,they win!
Pacquiao is already agreed to be taken up his blood right after the fight. I just wondered why Gayweathers insisting the testing right before the fight. Are they planning something? I guess they will paid the agency to sabotage the results and maybe paying the doctors who will conduct the test and put something inside the body of PACMAN that lessens his power during the fight!
LOL!!! MANNY TAKING STEROIDS??? HOW COME HE PRODUCE TWO MORE CHILDREN!!! STEROIDS MAKE YOU IMPOTENT MORONS!!!
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