Talks for May 2 fight between Miguel Cotto and ‘Canelo’ Alvarez called off

Saul ‘Canelo’ Alvarez/Photo courtesy of Golden Boy Promotions

 

Negotiations for a potential May 2 fight between middleweight champion and Miguel Cotto and former junior middleweight champion Saul “Canelo” Alvarez have stalled and been suspended, Oscar De La Hoya said Saturday.

According to a report on ESPN.com, De La Hoya – Alvarez’s promoter – called off the talks because Cotto and his team did not meet a Friday deadline to agree to terms. The report indicated the Cotto camp was not happy with the money being offered.
This would seem to open the possibility of a rematch between Cotto and Floyd Mayweather Jr. should Mayweather not sign for the much-anticipated fight with Manny Pacquiao.
Cotto lost a 12-round unanimous decision to Mayweather in May 2012 at MGM Grand in Las Vegas.

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What will settlement with Richard Schaefer mean for Golden Boy Promotions?

Oscar De La Hoya/Photo by Associated Press

 

Now that Golden Boy Promotions and former CEO Richard Schaefer have reached a settlement, it will be interesting to see how Golden Boy and president Oscar De La Hoya react.

We say that because as part of the settlement, De La Hoya agreed to sever ties with several Al Haymon fighters who were being promoted by Golden Boy, but were not under promotional contract to De La Hoya’s company. Among them – according to several publications – reportedly are Danny Garcia, Keith Thurman, Marcos Maidana and heavyweight contender Deontay Wilder. According to ESPN.com, Wilder’s challenge to heavyweight champion Bermane Stiverne on Saturday figures to be Wilder’s last under the Golden Boy banner.

According to reports, Schaefer will still have to sit out an unspecified amount of time before he can promote again because he was under contract to Golden Boy through 2018. A source told ESPN.com it could be one to two years.

Schaefer had resigned in June after a long run as the company CEO. He was eventually taken to arbitration by De La Hoya for $50 million. There was no exact word on the monetary part of the settlement, but ESPN.com reported that Schaefer may have to give up his roughly eight percent stock in Golden Boy, which apparently also will receive millions of dollars.

Indeed, how Golden Boy marches on from here will be interesting to see. De La Hoya is supposedly cool with the settlement, so that’s good. But several of the solid fighters he’s been using to add punch to his cards, are gone.

Time will tell.

 

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Oscar De La Hoya named Boxing Promoter of the Year by SI

Oscar De Hoya/Photo by Associated Press

 

Oscar De La Hoya, president of Golden Boy Promotions, has been named Boxing Promoter of the Year by Sports Illustrated.

“I’m humbled and honored and thank Sports Illustrated for this incredible recognition,” De La Hoya said in a statement. “When I was inducted to the Boxing Hall of Fame in June, I made a promise that Golden Boy Promotions would focus all of its energies on a simple premise – bringing the best fights to the fans of our sport. In 2014, we started to deliver on that promise, but we have only scratched the surface of what is possible. Working with our outstanding stable of fighters, our fellow promoters and everyone else in our sport who shares our goals, 2015 is primed to be a huge year for boxing.”

 

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Oscar De La Hoya on Saturday will host annual turkey giveaway

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Joseph Diaz Jr., a 2012 U.S. Olympian out of South El Monte, will be among the fighters assisting in the annual turkey giveaway/Photo courtesy of Golden Boy Promotions

 

Promoter Oscar De La Hoya on Saturday will host his annual turkey giveaway at Oscar De La Hoya Animo Charter High School in East Los Angeles beginning at 10:30 a.m.

Among the Golden Boy Promotions fighters expected to be on hand are Gabriel Rosado of Philadelphia, Julian Ramirez of East Los Angeles, Joseph Diaz Jr. of South El Monte and Diego De La Hoya, Oscar De La Hoya’s 20-year-old cousin from Mexicali.

(Note: The families receiving the turkeys have been pre-selected.)

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Saul ‘Canelo’ Alvarez leaves Showtime to re-join HBO

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Saul “Canelo” Alvarez/Photo courtesy of Golden Boy Promotions

 

Saul “Canelo” Alvarez on Tuesday signed an agreement to return to HBO beginning with his next fight in December, the interested parties announced.

Alvarez, an ultra-popular former super welterweight champion from Mexico, fought seven times on HBO between 2010 and 2012. He moved over to Showtime after his promoter – Golden Boy Promotions – and HBO had a falling out and HBO said it would no longer work with Golden Boy.

That edict eased when HBO signed on to televise the upcoming light-heavyweight title fight between Golden Boy’s Bernard Hopkins and Sergey Kovalev on Nov. 8 in Atlantic City.

Alvarez has fought his five most recent fights on rival Showtime. Terms of his new agreement with HBO were not disclosed.

“For all of my career, I have wanted to fight on HBO for one main reason -  I believe it will allow more of my fans to see me in action,” said Alvarez, who is 44-1-1 with 31 knockouts. “Today marks a huge milestone for me, and I look forward to a long and successful partnership with HBO.”

Oscar De La Hoya, president of Golden Boy, was stoked.

“I’m thrilled to be part of this historic agreement between ‘Canelo’ Álvarez and HBO Sports, an agreement that marks another major step in Golden Boy Promotions’ primary goal to give boxing fans the fights they want to see,” he said.

Ken Hersham, president of HBO Sports, seemed equally jazzed.

“Everyone at HBO is excited to welcome back ‘Canelo’ Álvarez to the HBO family, and we can’t wait to re-introduce him to our subscribers,” Hershman said. “At only 24 years old, ‘Canelo’ has already established himself as one of the boxing world’s brightest stars, and we look forward to a long and mutually beneficial relationship as we embark on this new chapter together.”

Alvarez last fought in July and won a split-decision over Erislandy Lara at MGM Grand in Las Vegas. Alvarez lost his two super welterweight world titles to Floyd Mayweather jr. via majority decision in September 2013.

 

 

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Oscar De La Hoya says fight with Erislandy Lara is personal for ‘Canelo’

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Saul “Canelo” Alvarez/photo by Tom Hogan – Hoganphotos/Golden Boy Promotions

A lot of smack has been talked by Cuba’s Erislandy Lara ahead of his July 12 junior middleweight title fight against Saul “Canelo” Alvarez of Mexico at MGM Grand in Las Vegas (on Showtime pay-per-view).

Oscar De La Hoya, who is promoting the fight under his Golden Boy Promotions banner, believes Alvarez has taken Lara’s mouthing off to heart.

“It’s going to be a great fight; I don’t want to predict anything,” De La Hoya said Tuesday. “Lara has been doing a lot of trash-talking that has been fueling ‘Canelo.’ I see him at an entirely different level and it’s exactly where he should be. He’s at a level of determination where he really wants to get this guy. It’s personal.”

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Check out this excerpt from Q & A with Oscar De La Hoya

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Oscar De La Hoya/Photo by Gene Blevins

Here is an excerpt from a Q & A we did with Oscar De La Hoya. He was asked about his addiction to alcohol and drugs, his induction into the International Boxing Hall of Fame and the departure of his Golden Boy Promotions CEO Richard Schaefer.

Question: Word has it that you were surprised that Richard Schaefer left. But amid all the rumors, you could not have been completely surprised, could you?
Answer: “I was taken aback by it. I was very surprised. You hear rumors, you hear rumblings – the boxing world is a small world – and so I started to hear some rumblings years ago. But you don’t want to believe them. Call me naive, call me innocent or whatever you want to call me, but I just didn’t want to believe them. So when you have a CEO, you put all your trust into the CEO and the CEO runs your company for you. That’s basically what was happening. So to me, when he resigned, it was an instant shock at the time. But I heard rumblings many years ago.”

Check out the full Q & A by copying and pasting this link:

http://www.dailynews.com/sports/20140623/oscar-de-la-hoya-talks-the-boxing-business-going-to-rehab-and-becoming-a-hall-of-famer

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Oscar De La Hoya, Felix Trinidad Jr. and Joe Calzaghe inducted into Hall of Fame

Photo by Associated Press

Oscar De La Hoya, Felix Trinidad Jr. and Joe Calzaghe were inducted into the International Boxing Hall of Fame on Sunday in Canastota, N.Y.

De La Hoya, 41, of East L.A., compiled a record of 39-6 with 30 knockouts and won world titles in six weight classes. De La Hoya, president of Golden Boy Promotions, retired a few months after he was stopped by Manny Pacquiao after eight rounds in December 2008.

“I was fortunate enough to win an Olympic gold for my country, and winning world titles in boxing is great and not too many people can do that,” De La Hoya told USA Today. “But to be inducted into the Hall of Fame, it’s quite an honor, and I’m so grateful and blessed that I can be part of such a wonderful group, like (Felix) Trinidad and (Joe) Calzaghe.”

De La Hoya not long ago completed his second stint in a drug & alcohol rehabilitation clinic. Also, this past week his longtime CEO – Richard Schaefer – resigned from the company.

One of De La Hoya’s losses was to Trinidad. They tangled in a welterweight title-unification bout in September 1999 at Mandalay Bay in Las Vegas. De La Hoya definitely out-boxed Trinidad, who was more interested in going toe-to-toe. But De La Hoya ran the last three rounds and lost the bout via majority decision.

Trinidad, of Puerto Rico, is 41. He compiled a record of 42-3 with 35 knockouts from 1990-2008. A longtime welterweight champion, he also won titles in the junior middleweight and middleweight classes.

Calzaghe, of Wales, will go down as one of the top super middleweights of his era. He went 46-0 with 32 knockouts from 1993-2008.

He won the super middleweight title in October 1997 and made 21 defenses, becoming a unified champion along the way.

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Report: Floyd Mayweather Jr. will no longer use Golden Boy to promote his fights

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Photo by Associated Press

It didn’t take long for the other shoe to drop. Only hours after Richard Schaefer announced Monday he was resigning as CEO of Oscar De La Hoya’s Golden Boy Promotions, Floyd Mayweather Jr. declared through the CEO of Mayweather Promotions – Leonard Ellerbe – that he will no longer use Golden Boy to help promote his fights, according to a report on ESPN.com

Mayweather had been using Golden Boy to promote his past nine fights on a handshake. But it was not surprising that Ellerbe told ESPN.com that Mayweather will “absolutely not” use Golden Boy any longer.

Mayweather and De La Hoya have never liked each other much. To the contrary, Mayweather and Schaefer and Ellerbe have solid relationships.

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Richard Schaefer resigns as CEO of Oscar De La Hoya’s Golden Boy Promotions

To the surprise of probably no one, Richard Schaefer – CEO of Oscar De La Hoya’s Golden Boy Promotions – on Monday afternoon handed in his resignation after some 12
years with the company that was founded in 2002.

“After more than 10 years with Golden Boy, it is time to move on to the next chapter of my career,” Schaefer said in a statement. “This decision has required a great
deal of personal reflection, but ultimately I concluded that I have no choice but to leave. I have succeeded in banking and I have succeeded in boxing, and I look forward to the next opportunity. I am proud to remain a shareholder (in Golden Boy), so I have a strong interest in the continued success of the company. I am proud of what we have accomplished at Golden Boy, but I now look forward to new challenges.”
Schaefer has been De La Hoya’s right-hand man, and then some. The financial brains of the outfit, the former Swiss banker helped build De La Hoya’s company into a monster in the industry, taking a back seat to virtually no one.

Along the way quite a bit of animosity materialized between De La Hoya’s former promoter – Bob Arum of Top Rank Inc. – and De La Hoya and Schaefer. The ongoing beef resulted in what boxing insiders referred to as “The Cold War” as the companies refused to do business with each other.

When De La Hoya recently got out of a drug and alcohol rehabilitation center for the second time, he went on record as saying he wanted to patch things up with Arum
and again begin doing fights with Arum’s high-powered company.

By this time Schaefer had gone on record as saying he would never do business with Arum ever again. Schaefer would not say much on top of the statement during a telephone interview with this newspaper shortly after he resigned. He did provide some hints.

“I can’t really say anything on the advice of my attorneys,” he said, when asked about his main reason for leaving. “I’m just going to leave it at this; the statement pretty much says all it needs to say.”

Schaefer was asked if, because his attorneys advised him not to talk, that means there is impending litigation.

“No, not necessarily,” he said. “I just gave my resignation today; I don’t have all the answers.”

Schaefer, however, did say something that intimated De La Hoya’s change of heart toward Arum was part of why he left.

“I’m sure guys involved in boxing saw what was going on and probably figured out that sooner or later something like that was going to happen,” Schaefer said.

De La Hoya, as of late Monday afternoon, had yet to issue a response to Schaefer’s departure. De La Hoya, of East Los Angeles, will be inducted into the International
Boxing Hall of Fame on Sunday in Canastota, N.Y.

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