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> Golden Boy Files Arbitration against Schaefer, Wow!
Dolimite
post Jun 26 2014, 09:00 PM
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http://espn.go.com/boxing/story/_/id/11141...ichard-schaefer

Cold War II is about to happen. Oscar is suing for 50 million. What does it all mean? Shit just got real/
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mgrover
post Jun 26 2014, 09:27 PM
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doubt he'll get 50 million, but realistically schaefer won't be able to work as a promoter till his contract effectively runs out, unless he's given the option to buy out, which probably seems like 50 million
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KSUN247
post Jun 26 2014, 11:57 PM
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$50M is a lot $$$. Not sure if Oscar will win this outright. If he does, don't think he'll get the $50M. I can see a small buyout ($10-15M) and a delay in starting his own company or working for someone else. Schaefer built GBP into the top promotional company that it is. With him still owning a percentage of it, it would be foolish to totally try to destroy it. Doesn't make good business sense to me. He still brought millions to GBP allowing Haymon's boxers to be promoted by GBP. Since most of the boxers are on a limited contract or fight by fight basis, is Oscar's real issue, the fact that GBP doesn't control the boxers outright?

This post has been edited by KSUN247: Jun 26 2014, 11:57 PM
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mrchitown
post Jun 27 2014, 02:05 AM
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1) you know you could've just out this in the other existing thread about Schaefer quitting GB and 2) I said this was going to happen after Schaefer resigned. This really isn't news or should I say shocking news
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mrchitown
post Jun 27 2014, 02:11 AM
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QUOTE (mgrover @ Jun 26 2014, 09:27 PM) *
doubt he'll get 50 million, but realistically schaefer won't be able to work as a promoter till his contract effectively runs out, unless he's given the option to buy out, which probably seems like 50 million


Not entirely true, Schaefer has a play here too. Non compete clauses which is the main sticking point here are mostly un-enforceable in CA. And though they are technically accusing Schaefer of wrong doing, there are rumblings that Schaefer didn't sign a contract that runs thru 2018. Oscar and his lawyer, Bert Fields possibly pulled an Arum and just extended it. The non compete clause is said to be in this extension contract which Schaefer insists he never signed. One thing is for sure is that Oscar's lawyer is going for the jugular. But there's a way out of it, Haymon is the key
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Dolimite
post Jun 27 2014, 09:01 AM
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QUOTE (mrchitown @ Jun 26 2014, 11:11 PM) *
Not entirely true, Schaefer has a play here too. Non compete clauses which is the main sticking point here are mostly un-enforceable in CA. And though they are technically accusing Schaefer of wrong doing, there are rumblings that Schaefer didn't sign a contract that runs thru 2018. Oscar and his lawyer, Bert Fields possibly pulled an Arum and just extended it. The non compete clause is said to be in this extension contract which Schaefer insists he never signed. One thing is for sure is that Oscar's lawyer is going for the jugular. But there's a way out of it, Haymon is the key

Your pissed about the Bulls draft aren't you?
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mrchitown
post Jun 27 2014, 03:11 PM
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QUOTE (Dolimite @ Jun 27 2014, 09:01 AM) *
Your pissed about the Bulls draft aren't you?


No, we got McDermott,, we good you should be pissed about your marriage going to arbitration a year from now (IMG:style_emoticons/default/laugh.gif)

This post has been edited by mrchitown: Jun 27 2014, 03:12 PM
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Dolimite
post Jun 27 2014, 07:09 PM
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QUOTE (mrchitown @ Jun 27 2014, 12:11 PM) *
No, we got McDermott,, we good you should be pissed about your marriage going to arbitration a year from now (IMG:style_emoticons/default/laugh.gif)

I wouldn't be surprised if it did. We both just got a raise and she talking having joint bank accounts! NEVER.
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mrchitown
post Jun 28 2014, 12:26 AM
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QUOTE (Dolimite @ Jun 27 2014, 07:09 PM) *
I wouldn't be surprised if it did. We both just got a raise and she talking having joint bank accounts! NEVER.


Shiiiit! Ain't no way, don't do it
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Dolimite
post Jun 28 2014, 08:49 AM
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QUOTE (mrchitown @ Jun 27 2014, 10:26 PM) *
Shiiiit! Ain't no way, don't do it

I'm not. She burns through money. She has 5 credit cards and she maxes them out. Stupid. I got two credit cards and they are for emergencies. She goes dumb when it comes to money.
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