Lawsuits piling up against Al Haymon

Phil Jay 01/07/2015

Premier Boxing Champions founder Al Haymon is being sued by yet another promotional outfit as Top Rank are the latest to file a lawsuit against the controversial figure.

This latest legal action comes on the back of Golden Boy seeking $300m damages from Haymon after he took a huge chunk of Oscar De La Hoya’s roster to his new venture.

According to Lance Pugmire of the LA Times, Top Rank are seeking $100m and claim Haymon is attempting to secure his own boxing monopoly to squeeze out those who have been at the top of the sport for years.

Accusations of holding venues in order to block competitors had already been bandied about, but now Top Rank attorney Daniel Petrocelli has outlined in the lawsuit that Haymon has a cunning plan to recoup his current losses – that are said to be running into the hundreds of millions of dollars.

“Once Haymon obtains monopoly power in the market for promoting professional boxing matches, he will recoup the losses by charging exorbitant prices to broadcasters, sponsors, and consumers. Haymon and Waddell & Reed (his financial backers) will be the sole competitor,” said Petrocelli.

Haymon has already amassed a huge array of fighters, reported to be around 200, which include WBC heavyweight champion Deontay Wilder, Amir Khan, Keith Thurman and pound for pound king Floyd Mayweather Jr.

Mayweather’s Showtime contract expires in September after one last fight of his current six-bout deal – which will mean another high-profile TV network scramble if ‘Money’ aims for 50-0 in 2016.

Haymon will no doubt be right at the center of negotiations as the PBC boss continues to divide opinion.

Read the full article from Lance Pugmire detailing the lawsuit here