Nonito Donaire’s days as a Golden Boy under the promotion of Oscar De La Hoya’s company are either delayed or canceled.
Mediator Daniel Weinstein, the former California State Super Court judge who handled the huge contractual dispute between Golden Boy and Bob Arum’s Top Rank concerning the boxing services of Manny Pacquaio, ruled Tuesday afternoon that GBP is enjoined from promoting the ?Filipino Flash: until such time as the world bantamweight champion has concluded his contract with Arum’s outfit.
It has been Arum’s legal contention that his company has a hold on the exciting Donaire for the remainer of 2011 until a date in 2012.
That seven figure signing bonus that has been so speculated about for Donaire? Well, let’s hope Nonito and wife/adviser Rachel haven’t spent that loot because they might be required to give it all back to Golden Boy.
And I’d love to know if GBP has an indemnification clause protecting itself from a legal brouhaha with Top Rank over Donaire.
If GBP had such a legal fees umbrella, then it can demand repayment for same from Donaire out of upcoming purses.
The bottom line? Like it or not, Donaire’s next fight, whether it is on May 28 or later, is going to be under the Arum banner.
Certainly, Golden Boy has the option, the time and the money required to appeal Weinstein’s decision but I wonder if they will bother instead of just waiting for Top Rank’s contractual time to run out.
The Donaire affair is suddenly topsy turvy.
Arum had already promised, sensing that Doniare was bolting, to deliver a million dollar purse to the Flash by the end of this year.
Donaire made a career-high purse of $350,000 when he blasted Fernando Monitel out in two rounds in February.
It’s possibile Arum will just shower Donaire with more money and increase the $500,000 purse discussed for a May 28 title bout.
Top Rank might do this in order to ingratiate itself with Donaire and to shoot for a longer term deal with the 28 year old, Fil-Am ring star.
As for the feisty, 79 year old Arum, he must be grinning from ear to ear right about now.
His next quote will begin with ?I told you so…?
I think it’s unlikely that a higher court will read the Top Rank contract any different than experienced jurist Weinstein has done.
The winners here may be Donaire and Top Rank with Golden Boy being the only loser.
Donaire wanted more attention and more money from Manny Pacquiao’s promoter and he’s certainly achieved that.
