INQUISITR.COM / Sports

Floyd Mayweather’s Manager Gets Hit With $300M Lawsuit By Oscar De La Hoya

By Val Powell
Published on: 18:50 PST, May 12, 2015

Last Tuesday, Oscar De La Hoya’s Golden Boy Promotions announced that it has filed a $300 million lawsuit against Floyd Mayweather’s manager Al Haymon.

The expensive lawsuit, which was filed in the federal court in Los Angeles, accuses Haymon of violating the Muhammad Ali Boxing Reform Act, which prohibits managers from functioning also as promoters.

Aside from Haymon, the federal antitrust and unfair competition suit also implicated his company, Premier Boxing Champion series, and the venture capital firm Waddell & Reed Financial.

According to the lawsuit “Haymon has entered into agreements to restrain trade in a substantial portion of the market for promotion of championship-caliber boxers.” The suit claims that the manager has banned boxers under his company from signing with other promoters in the boxing industry. He also arranged and paid for sponsors, arenas, and purses for championship fights.

Through his company’s statement, De La Hoya spoke out against Mayweather’s manager.

“During my 25 years in boxing, I have watched far too many fighters be chewed out, spit out and left with nothing to sit idly by while Mr. Haymon flaunts a federal law meant to protect those who put everything on the line to entertain fans of our sport.”

Furthermore, the statement from De La Hoya continued, “The Ali Act was passed to help fighters avoid the fate that bedeviled so many of our predecessors; and I will do everything in my power to ensure this crucial piece of legislation is upheld and followed.”

Aside from De La Hoya, other boxers also share the sentiment about Haymon. Undisputed middleweight champion Bernard Hopkins also feels the same way about Mayweather’s manager and believes that Haymon is “detrimental” to the sport.

Hopkins said, “At the age of 50 and after spending most of my adult life in boxing, I thought I’d seen every trick in the book aimed at undermining those who actually step into the ring. Having personally been refused a lucrative fight with a Haymon-managed fighter, I have felt first-hand the impact of Haymon’s attempt to form a monopoly. These practices are detrimental to boxers, fans and the sport as a whole.”

Oscar De La Hoya on Al Haymon a few months prior to lawsuit

Despite these allegations however, several individuals involved in PBC contend that De La Hoya has no case against Haymon. They explained that, although Mayweather‘s manager has altered the boxing industry by limiting what promoters earn for fights, he hasn’t broken any Ali Act principles.

[Image via Getty Images]

Share this article: Floyd Mayweather’s Manager Gets Hit With $300M Lawsuit By Oscar De La Hoya
oscar de la hoya Floyd Mayweather Jr
More from Inquisitr