Top Rank suing Al Haymon on grounds of monopoly
Per Lance Pugmire of the LA Times, who was the leading resource for the Manny Pacquiao and Floyd Mayweather fight, reported that Top Rank Inc. is suing Al Haymon’s Premier Boxing Champions, to the tune of 100 million dollars. The suit is seeking compensation for what is being labeled “predatory practices” in which a 50 page suit explains that Haymon is trying to sign every fighter of note to his, Premier Boxing Champions, brand to run out of business all other competition.
This makes the second lawsuit filled against Haymon as in May, Golden Boy Promotions sued him for 300 millions for similar claims. In my opinion bigger than the lawsuits and more problematic for Premier Boxing Champions is the fact the suits could bring forth a federal investigation as the Department of Justice has already received a request to look into Haymon’s business practices from the Association of Boxing Commissions. Haymon, a once powerful figure in the music industry for promoting concert tours, was sued and left the music industry, which oddly somewhat resembles what is happening in his boxing business practice at the current moment.
The Top Rank lawsuits alleges that Lou DiBella, Warriors Promotions, Goossen-Tutor and Mayweather Promotions are “sham promoters” who only function as promoters on paper with Haymon controlling the elements of the event. Thus, this would be a violation of the Ali Act which states that a manager and promoter can not be one and the same. It also states that Haymon is trying to create an unsustainable market place inflating salaries to drive out any competitors.