Boxing?s power base has shifted dramatically and possibly in ways that will ultimately not benefit the sport?
There are rumblings on the boxing landscape. Buildings sway. Fissures appear. Normally complacent men and women are screaming and running for cover.
What not long ago appeared monolithic is cracking before our very eyes.
As first reported by Kevin Iole of Yahoo Sports, Oscar De La Hoya?s Golden Boy Promotions, one of boxing?s powerhouse promotional firms, is continuing its transformation. What it is transforming into?and why?only time will tell.
On Friday, GBP settled its $50 million lawsuit against former CEO Richard Schaefer, with whom De La Hoya, in his desire to make amends with Bob Arum and Top Rank, had ceased seeing eye-to-eye, or so the story goes.
That De La Hoya was able to wrest control of his company from alpha male Schaefer is significant. But we?ve not seen the last of Richard the Lionhearted. Under the terms of the agreement, Schaefer will not promote boxing for an unspecified, but likely brief time, before he gets back in the game by aligning himself with Mayweather Promotions and/or Al Haymon, all of whom appear to hate Arum with a passion.
In keeping with the new broom policy, De La Hoya has decided to give up promotional rights to many of the fighters associated with Al Haymon, including Adrien Broner and Danny Garcia. Also on the chopping block, according to LA Times, are Deontay Wilder, Marcos Maidana and Danny Jacobs, while the status of Keith Thurman, Peter Quillin, Erislandy Lara, Lamont Peterson and Abner Mares has yet to be determined.
Presumably Canelo Alvarez, Amir Khan, Lucas Matthysse and Leo Santa Cruz will continue to fight under the Golden Boy banner, but for how long is anyone?s guess.
De La Hoya is said to be fed up being hamstrung by Haymon from putting on meaningful fights. There may be more than meets the eye (when is there not more than meets the eye?), but boxing?s power base has shifted dramatically and possibly in ways that will ultimately not benefit the sport.
