Boxing Promoters Wage|$15 Million Fight

LAS VEGAS (CN) — In an outside-the-ring fight between champion welterweights, “Sugar” Shane Mosley’s promoter sued Oscar De La Hoya’s promoter for $15 million, in a dispute over Mosley’s contracts.
     Mosley’s promoter, Pound for Pound Promotions, sued De La Hoya’s Golden Boy Promotions in Clark County Court on July 5.
     Golden Boy Promotions spokesman Stefan Friedman said: “Six years ago Shane Mosley made a decision to sever ties with Golden Boy Promotions, and now he apparently regrets that decision. This is nothing more than a nuisance suit and we expect a quick dismissal.”
     Nevada-based Pound for Pound Promotions claims it began providing “unique services” for Mosley in June 2005, including “promotional rights.”
     Both Mosley and De La Hoya have held world lightweight and welterweight titles, through various boxing organizations.
     Pound for Pound says that after securing promotional rights for Mosley’s fights, it entered into a five-fight contract with Golden Boy, which Pound for Pound calls the “leading promotional company in boxing history.”
     After those five bouts, Pound for Pound says, Mosley was to be a “free agent” capable of promoting his own fights, and would have 5 percent ownership of Golden Boy Promotions.
     Mosley also agreed to be Golden Boy’s president of fighter relations, which required him to recruit boxers for Golden Boy, make public appearances, supports its events and help with publicity, Pound for Pound says.
     Mosley’s work as Golden Boy’s president of fighter relations was separate from his five-bout fight contract, Pound for Pound says, and entitled him to fixed and contingent pay, plus the 5 percent ownership interest in Golden Boy.
     Mosley fought nine bouts promoted by Golden Boy, exceeding his contractual commitment by four fights, and earned the 5 percent stake, which is worth “tens of millions of dollars,” Pound for Pound says.
     It says Golden Boy agreed to pay it a standard rate with purse guarantees, bout expenses, a share of pay-per-view fight revenue and give it a 1 percent interest in Golden Boy for each fight that generated more than $300,000, with a 5 percent maximum vested ownership interest.
     After the ninth bout, when Mosley wanted to self-promote a title fight with Manny Pacquiao, Golden Boy claimed Mosley could never box again, for it or for anyone else, without permission from Golden Boy, according to the complaint.
     Though the five-bout contract expired in 2007, Pound for Pound says, Golden Boy made Mosley an “indentured servant,” paid him just $1,000 for his 5 percent interest in Golden Boy, and did not pay the fixed and contingent compensation Mosley had earned.
     Pound for Pound seeks an accounting and at least $15 million in damages for breach of contract and bad faith.
     It is represented by Carleton Burch with Anderson, McPharlin & Conners.
     The law firm declined to comment or to clarify whether Mosley’s claimed 5 percent interest in Golden Boy is the same 5 percent interest Pound for Pound is claiming.

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