Al Haymon Sued by Top Rank Promotions: Latest Details and Reaction

Embattled Premier Boxing Champions promoter Al Haymon is readying for another legal battle, as Top Rank Promotions filed a lawsuit against him Wednesday.

Continue for updates.

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Haymon's Lawyers Respond to Top Rank Lawsuit 

Thursday, July 2

Attorneys at Kramer, Levin, Naftalis and Frankel representing Haymon released a statement regarding the Top Rank lawsuit, (via Wil Esco at BadLeftHook.com).

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The lawsuit filed today (Wednesday) by Bob Arum and Top Rank is entirely without merit and is a cynical attempt by boxing's old guard to use the courts to undermine the accessibility, credibility and exposure of boxing that the sport so desperately needs. "The Premier Boxing Champions series makes boxing free again, by bringing championship boxing to free TV, with a fighter-first promise and a commitment to the fans to restore boxing to the luster of its heyday. The continued success of this effort will far outlast this baseless lawsuit.

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Top Rank Suing to Stop Haymon's "Predatory Practices"

Wednesday, July 1

Haymon has become arguably the most prominent promoter and manager in boxing in recent years, but Bob Arum and Top Rank Promotions are looking to put a stop to that.

According to Lance Pugmire of the Los Angeles Times, Top Rank is suing Haymon for more than $100 million in damages due to the notion that he is attempting to create a boxing monopoly by taking on multiple roles.

Per Pugmire, Top Rank attorney Daniel Petrocelli broke down the specifics behind the allegations against Haymon in a written lawsuit. 

"If left unabated, this conspiracy threatens to fatally cripple competition in [boxing], thereby causing substantial and irreversible harm to boxers, legitimate promoters, and consumers," Petrocelli wrote.

The lawsuit also claims Haymon is intentionally losing money for now in order to gain the upper hand over other promotions.

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In order to stifle legitimate promoters from competing against PBC, Haymon has obtained exclusivity commitments from broadcasters. Between these predatory 'payola' payments and the expenses of promoting each televised match, Haymon and Waddell & Reed are operating at a significant short-term loss in the millions of dollars. This 'loss leader' strategy ... has allowed Haymon to gain unfair advantage in the promoter market to the severe detriment of legitimate competitors like Top Rank.

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Such accusations are nothing new for Haymon, who was sued by Golden Boy Promotions for $300 million in May due to alleged violations of antitrust laws, according to ESPN.com's Dan Rafael.

Haymon was also accused by California Boxing Commission Commissioner John Frierson of sabotaging other promoters by reserving both the Forum and the Staples Center in Los Angeles in an effort to prevent competition from holding events, per Ivan G. Goldman of BoxingInsider.com.

While promoters are understandably upset with the manner in which Haymon does business, Robert Littal of Black Sports Online argues that it is good for boxing fans and boxers:

Despite that, the lawsuits are likely to continue rolling in until Haymon is forced to alter his modus operandi.

Maintaining his spot on top clearly won't be easy with so many other promoters gunning for him, but as long as Haymon can maintain his television deals and big-time clients like Floyd Mayweather, he isn't likely to fade out of the spotlight anytime soon.

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