Golden Boy comments on Canelo case
- Updated: June 18, 2016
Golden Boy Promotions released a statement regarding the outcome of their court case with All-Star Boxing, a boxing promotional company that sued both GBP and their star fighter Canelo Alvarez.
The case stems from a signed contract signed by Alvarez and trainer/manager Chepo Reynoso back in 2008 for rights to promote the fighter. All-Star Boxing, headed by Felix “Tutico” Zabala Jr., alleged that Golden Boy Promotions had intervened and illegally took over promotional rights to Alvarez.
The case against GBP and Alvarez, who last month knocked out Amir Khan in defense of his WBC title, lasted a few weeks, with a Florida jury finding Golden Boy Promotions not-guilty of any wrongdoing.
“We are extremely pleased that not only did the jury find that no contract ever existed between Canelo and All-Star Boxing, but issued a judgment against All-Star Boxing and ordered them to pay Golden Boy’s substantial legal fees.”
However, Zabala Jr. was awarded an $8.5 million judgement in a separate breach of contract and unjust enrichment lawsuit filed against Alvarez.
“I’m very happy. This case was about dignity and to create a precedent in the sport. I did it for my father’s legacy, for my son who is coming up in the business, and for all promoters. This is a very momentous moment in my companies and family’s history, and bottom line: We won an $8.5 million dollar verdict against Canelo Alvarez,” said Zabala Jr., of the award given to his promotional outfit.
Golden Boy Promotions won their lawsuit, which took nearly five years to go to trial, and will support Alvarez following the judgement against the lineal middleweight champion.
“It’s absurd to think that All-Star Boxing provided anywhere near that amount of value that the jury awarded under a separate claim. We will appeal this part of the decision, and are confident we will win, just as we did on the contract dispute,” said Golden Boy Promotions in a statement released to the media.
“Outside of appealing the financial damages, we now look forward to putting this episode behind us and working with Canelo Alvarez to continue his meteoric rise though the boxing ranks.”