Boxing Promoter Hits Rival With $300M Antitrust Suit

May 6, 2015Article

Law360, New York (May 6, 2015, 3:46 PM EDT) -- Golden Boy Promotions LLC and former world boxing champion Bernard Hopkins hit an adviser to Floyd Mayweather and numerous other fighters with a $300 million antitrust suit in California federal court Tuesday, alleging he is illegally acting as both a manager and promoter to monopolize boxing in the U.S.

Golden Boy Promotions and Hopkins, who is a co-owner of the company founded by fellow former champion Oscar De La Hoya, accused Alan Haymon of illegally acting as both a manager of fighters as well as an unlicensed promoter as part of an effort to eliminate competition from legitimate promoters for top-level boxers and fights. The suit also named asset management firm Waddell & Reed Financial Inc., which provided Haymon with funding to pursue the allegedly anticompetitive conduct.

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