It?s hard to believe that Don King would abandon his contractual claims to the services of triple-belted world lightweight champ Juan ?Baby Bull? for a mere pittance but that is the hottest rumor circulating in the boxing world today.
Diaz is supposed to defend his titles against King fighter (co-promoted by Terry Trekas) Nate ?Galaxxy Warrior? Capmbell March 8 (HBO) in Cancun. It is no secret that Diaz?s purse was supposed to be $1 million plus nonrefundable training expenses of $50,000. (Several months ago, King had been demanding $2 million to drop his claims to Diaz.)
But one source tells Boxingconfidential.com that King agreed to now pay the undefeated Diaz $750,000 to fight veteran Campbell and that Diaz manager Willie Savannah agreed to accept the $250,000 ?haircut.?
?Willie OK?d the lesser amount on the condition that is their last fight for King,? a second source informs Boxingconfidential. ?Savannah will take the hit in exchange for King agreeing that this ends their promotional contract.?
If the rumors are true, the timing is ironic since Fred Levin, who was the lawyer for the manager and the fighter, sent his letter of resignation to Savannah two days ago.
In his letter, Levin said he labored as the attorney for no fee ?because I thought Juan was going to be the savior of boxing.?
Looming large in the background and most likely new promoter of Diaz is Golden Boy Promotions which ran second to King the last time around. Golden Boy threw a lot of signing bonus money to Savannah amateur prospect Hylon Williams, Jr. Co-managed by powerful Shelly Finkel, Williams turns pro on the April 19 Joe Calzaghe-Bernard Hopkins show in Las Vegas.
?Golden Boy has Diaz wrapped up like a Christmas present. They?re just waiting to see a legal release from King.?
More to come?
