Golden Boy Promotions released the below statement to WBN regarding the recent legal battle between their top fighter Canelo Alvarez and All Star Boxing.
Canelo was ordered to pay $8.5m to All Star Boxing following a contract disagreement dating back to 2010, whilst Golden Boy – on the other hand, were subsequently cleared of any wrongdoing when the Mexican made the move to their stable.
Oscar De La Hoya’s company are already planning an appeal to the massive amount awarded to All Star Boxing over the matter with Canelo himself.
“We are extremely pleased that not only did the jury find that no contract ever existed between Canelo and All-Star Boxing, but issued a judgment against All-Star Boxing and ordered them to pay Golden Boy’s substantial legal fees.
“Over the last five-plus years, many questioned why we wouldn’t just settle the case before trial. The answer is simple: We would not be extorted. It was clear from the beginning that neither Canelo Alvarez nor Golden Boy Promotions had acted inappropriately in any way. We are grateful that the jury was able to see that.
“However, it is absurd to think that All-Star Boxing provided anywhere near that amount of value that the jury awarded under a separate claim. We will appeal this part of the decision, and are confident we will win, just as we did on the contract dispute.”
“Outside of appealing the financial damages, we now look forward to putting this episode behind us and working with Canelo Alvarez to continue his meteoric rise though the boxing ranks.”