...By Lola Smith for TDPel Media.
Following Manny Pacquiao’s legal loss against Conor McGregor’s management team, Paradigm, which resulted in a colossal legal bill, it is worth noting that this is not the first time a boxing figure has faced a significant financial penalty.
Here are six other notable boxers who suffered similar fates.
1. Mike Tyson
In 2003, Mike Tyson was sued by former promoter, Don King, for $100m after Tyson accused King of stealing from him.
Tyson later countersued for $115m.
The case was settled out of court for an undisclosed amount.
2. Oscar De La Hoya
In 2000, Oscar De La Hoya was ordered by a judge to pay $61m to his former promoter, Top Rank.
The ruling was made after De La Hoya left Top Rank to start his own promotion company, Golden Boy Promotions, without fulfilling his contractual obligations.
3. Floyd Mayweather Jr.
In 2017, Floyd Mayweather Jr. was fined $100,000 by the Nevada State Athletic Commission for failing to disclose a $100,000 payment from a betting company.
Mayweather was also ordered to perform 40 hours of community service.
4. Roy Jones Jr.
In 2004, Roy Jones Jr. was ordered to pay $2m to promoter, Cedric Kushner, after Jones backed out of a contract to fight mandatory challenger, John Ruiz.
Jones later settled the case for an undisclosed amount.
5. Evander Holyfield
In 2008, Evander Holyfield was sued by his former promoter, Main Events, for $550,000 in unpaid fees.
Holyfield later countersued for $10m, but the case was settled out of court for an undisclosed amount.
6. Bernard Hopkins
In 2010, Bernard Hopkins was sued by promoter, Golden Boy Promotions, for breach of contract after Hopkins failed to appear at a press conference.
The case was settled out of court for an undisclosed amount.
Commentary:
Legal disputes in the boxing world are not uncommon, and it is not just the athletes who face significant financial penalties.
Promoters and managers also often find themselves in legal battles over contracts, payments, and other issues.
These six examples illustrate the various types of disputes that can arise and the financial consequences that can result.
It is essential for all parties involved in the sport to be aware of the legal implications of their actions and to seek expert legal advice when necessary.
