The Golden Acquisition of The Ring - Part 2

[BIGPOPPAPUMP]

By Charles Jay - For a brief moment, I was wondering whether it would have been appropriate to rename this two-part story "The Good, The Bad and The Oh-So Lovely."

But I've managed to contain myself. And so:


ON THE OTHER HAND............

What are the ramifications attached to the acquisition by a subsidiary of Golden Boy Companies (i.e., Oscar De La Hoya) of The Ring magazine? What does it really mean for the boxing world, and is there something potentially harmful about it?

Let's start by taking a look at the Muhammad Ali Boxing Reform Act, which was passed back in the year 2000. Right at the top, under the section called "Findings," you will find this:

"(4) The sanctioning organizations which have proliferated in the boxing industry have not established credible and objective criteria to rate professional boxers, and operate with virtually no industry or public oversight. Their ratings are susceptible to manipulation, have deprived boxers of fair opportunities for advancement, and have undermined public confidence in the integrity of the sport."

And underneath that,

"(5) Open competition in the professional boxing industry has been significantly interfered with by restrictive and anti-competitive business practices of certain promoters and sanctioning bodies, to the detriment of the athletes and the ticket-buying public. Common practices of promoters and sanctioning organizations represent restraints of interstate trade in the United States." [details]

[grayfist]

Interesting questions...

I'm waiting for GBP's reply...and part III.

[crold1]

That's why another element must be explored; GBP does not own Ring. A subsidiary of GBP (read shell company) without Schaefer or Oscar as its official head, is the actual executor.

[freedom213]

That's why another element must be explored; GBP does not own Ring. A subsidiary of GBP (read shell company) without Schaefer or Oscar as its official head, is the actual executor.

Right and who signs their paycheck? This is business and although I think DLH's heart may be in the right place and the current "true " sanctioning bodies need to be knocked to the canvas and made to eat crow this is not the right way to go about it. Effective though it may be, it could and will lead to lots of bad blood and lots more shady goings on once a true shoving match gets going between The Ring/GBP and ABC sanctioning bodies. Who will pay for this? The boxers and boxing fans.

[crold1]

in legal terms, subsidiaries sign their own checks. It's shady, but pretty standard business practice.

[solojuan]

Can't wait for part three!!!

I read both stories and even though I hope for the best as it was outlined in part one, I am glad this writer is looking at this from all angles and not just the typical nuthugger view most ball-less writers do too often.