In a lengthy written statement issued on Monday, Golden Boy Promotions (GBP) reluctantly accepted the decision of the New York State Athletic Commission (NYSAC) to suspend its license for 90 days.
The company included facts meant to refute what it considers misinformation that has floated out on the story. It says it is not guilty of any improprieties related to license fees from HBO for fights that took place on May 15, 2010 in New York. It also declares it. was not accused or guilty of any "Ali Act" disclosures.
The suspension, according to the public statement, arises solely from the company's failure to timely respond to information requests related to the May 15 boxing card.
While GBP admits their mistakes were omissions it considers innocent, it nevertheless understands the position of the NYSAC when faced with an outright refusal to cooperate.
According to GBP, promotion firm, DiBella Entertainment has investigated the facts and considers the matter settled, including concerns that there were financial shenanigans related to the Malignaggi vs. Khan bout.
So what happened you ask? Well a GBP employee had the temerity to go on a honeymoon and couldn't be contacted. Someone else stepped in and mishandled the requests for documents from New York.
That person questioned the authority of the Commission to ask for the documents in the first place. The next error occurred when someone at GBP claimed NYSAC couldn't provide the confidentiality necessary to protect the information contained in them, thus justifying the company's refusal to cooperate.
Guess what? They were wrong to do that. NYSAC has since represented to GBP that there will be no public disclosure of the sensitive documents and all information requested has now been supplied.
GBP wants to make it clear that while it was surprised by the unexpected action of the NYSAC, it has no right to a hearing or advance notice of the punishment- and that is exactly how it was handled. Not very friendly, but all within the rules, heck yes.
While it is embarrassing and leaves some to wonder if GBP has a lack of institutional control over serious matters related to its state boxing licenses, at least for now, it appears no promoter or boxer was cheated.
On Tuesday, GBP will hold a media conference call related to the Juan Diaz vs. Juan Manuel Marquez II bout. Do you think the press will have questions for GBP's CEO Richard Schaefer? Yeah, me too.
FULL TEXT OF GOLDEN BOY STATEMENT, HERE
Comments
Golden Boy Promotion try to check if the police personnel are doing their job properly.It seems they gamble so much they forgot to follow the guidelines of fairness.Human are prone to error but you have a note,reminder that remind you what you need to do.
Very poor respond on part of Golden Boy Promotion.
Its up the the authorities if they still let the fraud persons do more business and flash their money where they get from illegal ways.
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