Golden Boy pay price for not giving TV cash

Golden Boy CEO Richard Schaefer
rode into London a few weeks ago stating that boxing was like the Wild West.
Now, less than a month later, it looks like he’s the cowboy.

Golden Boy Promotions were suspended
for three months by the New York State Athletic Commission for what appears to
be suggestions of improper behaviour of their own.

When Amir Khan fought Paulie
Malignaggi in New York in May, there was a 10-round undercard fight between
Nate Campbell and Victor Ortiz. Apparently, TV giant HBO paid an additional
$750,000 for that fight but it has been alleged Campbell received just $125,000
from that sum and Ortiz $100,000.

It is being claimed the extra
$525,000 was concealed by GBP, who, if that is the case, were in serious breach
of the Muhammad Ali Act – an act passed to prevent boxers being exploited and
bring financial dealings out into the open. Ortiz won a 10 round decision.

How ironic that Oscar De La Hoya,
the figurehead of Golden Boy, and Schaefer always state how well they ‘look
after boxers’ and that all their deals are ‘disclosed’ and ‘transparent’.

Golden Boy deny any wrongdoing and
have released a lengthy statement in defence of the charges. Their lawyer, Judd
Bernstein, insists it was no more than an administrative error.

After reviewing the
New York State Athletic Commission’s suspension letter banning Golden Promotions
for 90 days, Nevada State Athletic Commission director Keith Kizer said the
promotional company’s East Coast problem does not appear to jeopardiSe its 31
July Las Vegas card headlined by a WBA and WBO lightweight title bout between
Juan Manuel Marquez and Juan Diaz at the Mandalay Bay Hotel.