Oscar De La Hoya's Company Accuses Floyd Mayweather's Manager Of Breaching Federal Antitrust Laws
LOS ANGELES (CBSLA.com) — Oscar De La Hoya's company is suing Floyd Mayweather's manager and his investors for $300 million in Los Angeles for allegedly breaching federal antitrust laws, court papers obtained Wednesday show.
De La Hoya's Golden Boy Promotions alleges that Al Haymon and his new Premier Boxing Champions series has violated the Muhammad Ali Boxing Reform Act, which prohibits managers from also acting as promoters, according to the complaint filed Tuesday.
"Haymon has entered into agreements to restrain trade in a substantial portion of the market for promotion of championship-caliber boxers," according to the lawsuit.
Haymon, who represents more than 150 fighters, has a bigger market share than any other manager and, in effect, has a monopoly on promoting TV fights, the lawsuit states.
In a statement, Golden Boy alleges that Haymon "conspired with Waddell & Reed Financial to violate federal and state laws aimed at protecting fighters in order to monopolize boxing."
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