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TOP RANK SUES AL HAYMON; ALLEGE MONOPOLY PRACTICES

By Ben Thompson | July 01, 2015
TOP RANK SUES AL HAYMON; ALLEGE MONOPOLY PRACTICES

According to multiple reports, Top Rank Inc. has filed a federal antitrust lawsuit against Al Haymon and his investors, Waddell & Reed, seeking more than $100 million in damages and an injunction to stop what's being described as "predatory practices". The 50-page lawsuit reportedly details several activities that are allegedly violating federal laws and preventing competition.

Some of the allegations include the following:

  • Blocking promoters access to certain venues and television networks.

  • Preventing boxers from participating in fights not controlled by Haymon.

  • Paying boxers not to spar with Top Rank fighters.

  • Violating the Muhammad Ali Boxing Refrom Act by simultaneously managing and promoting fighters.

  • Forbidding boxers to be promoted by other promoters.
"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," Top Rank attorney Daniel Petrocelli wrote in the lawsuit. "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."

FOR MORE DETAILS ON THE LAWSUIT, CHECK OUT THE FULL STORY FROM LANCE PUGMIRE OF THE L.A. TIMES



[ Follow Ben Thompson on Twitter @fighthype ]

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