Don King, on Mike Tyson

"Why would anyone expect him to come out smarter?
He went to prison, not to Princeton."

"To me, boxing is like a ballet, except there's no music
and the dancers hit each other."

Sunday, January 29, 2017

Chasing The Wolverine - Most Extraordinary Predator That Ever Lived - Do...

Published on May 28, 2014
Chasing The Wolverine - Most Extraordinary Predator That Ever Lived - Documentary TV

wolverine, also referred to as glutton, carcajou, skunk bear, or
quickhatch, is the largest land-dwelling species of the family
Mustelidae (weasels). It is a stocky and muscular carnivore, more
closely resembling a small bear than other mustelids. The wolverine, a
solitary animal,[1] has a reputation for ferocity and strength out of
proportion to its size, with the documented ability to kill prey many
times larger than itself.

The wolverine can be found primarily in
remote reaches of the Northern boreal forests and subarctic and alpine
tundra of the Northern Hemisphere, with the greatest numbers in northern
Canada, the U.S. state of Alaska, the Nordic countries of Europe, and
throughout western Russia and Siberia. Their populations have
experienced a steady decline since the 19th century in the face of
trapping, range reduction and habitat fragmentation, such that they are
essentially absent in the southern end of their European range.

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Boxing 2017_Francisco Vargas vs Miguel Berchelt_watch now

Tuesday, January 24, 2017

Comments about GGG

Wise men speak because they have something to say; fools because they have to say something. - Plato

Tuesday, January 17, 2017

Telephone Booth Show Car 1971 by Cosmo Lutz

An audience of one is all you need 1955.
Rene Burri 42nd Street. New York, 1959.

Mikey Garcia :" Im gonna retire soon, getting boring, too easy !!" -EsNe...

Roy Jones said similar things and took time away from boxing.  Now Roy wants to keep in the game but his skills are greatly diminished meaning he should hang up his gloves before he gets hurt.


Published on Jan 16, 2017
In this
video we take a look at the story behind the story. EsNews is a sports
channel talking to stars, celebs, trainers, fans and reporters.

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GENNADY Golovkin Sparring Partner - GGG Destroys Heavyweights In Sparrin...


PBC's ‘shady entrepreneur’ Al Haymon eing Sued by Goldon Boy

Related image

If you ever wondered how Al Haymon could cut a cheque for $100 million payable to Floyd Mayweather, Jr. immediately after the Pacquiao fight, this article provides valuable insight into how Al Haymon operates.

Note that Haymon is a Harvard educated man which gives him some great credentials.  Haymon was raised in Cleveland, Ohio and studied economics at Harvard. He also has an MBA from Harvard

Alan Haymon is an American boxing adviser/manager. He is the adviser to Floyd Mayweather, Jr. and has twice won the Boxing Writers of America Manager of the Year Award.


    $925 million lawsuit filed over investments with PBC's ‘shady entrepreneur’ Al Haymon 

    How do you allegedly lose over $500 million in three years? Read here and find out.

    Boxing fans who enjoyed last Saturday's rematch scrap between 2011's Fight of the Year winners Andre Berto and Victor Ortiz are no doubt familiar with Premier Boxing Champions (PBC), the television series helmed by power manager Al Haymon. 

    PBC rocketed to prominence early last year with its frequent and sometimes compelling matchups on channels including NBC, NBCSN, ESPN, CBS, FOX, Fox Sports 1, Spike TV, and Bounce.  

    It garnered even more attention on the business end as a time-buy with money flowing from Haymon's corporate entities to the television networks instead of the other way around.

    Naturally, this requires massive amounts of funding - hundreds of millions of dollars - which came from the asset management company Waddell and Reed via fund manager Ryan Caldwell.

     As Caldwell put it, "You have to be capitalized for three to five years to do this. To weather the storm. Because in some regards you were going to be the irrational player for a while...You're turning the model completely upside down."

    Well turning the business model upside down seems to have made some shareholders of Waddell funds extremely unhappy. 

    Fight Opinion's Zach Arnold was first to discover a February lawsuit in Kansas City federal court filed against Waddell by shareholders of funds purportedly invested in Haymon's corporate entities. 

    The investors are looking to recover "at least $300 million, and perhaps as much as $925 million, of losses and other damages" as a result of "willful and gross breaches of fiduciary duty towards shareholders to:

    i) prudently monitor and supervise the Funds' investments to meet the investment objectives as stated in the Funds' Prospectuses, 

    ii) supervise the Funds' portfolio managers, and 

    iii) rigorously enforce the Funds' compliance and ethical codes of conduct."

    The complaint describes Haymon as a "shady entrepreneur" of a "potentially criminal" company.

    "Unbeknownst to investors, starting in or about April 2013, the Trustees permitted and approved purchases by Ryan Caldwell, one of the two portfolio managers of the Funds, of approximately $925 million of private securities in a start-up and potentially criminal company in the field of professional boxing promotion.

    These purchases had no economic justification, but rather were motivated by Caldwell's personal interest and benefit.

    In fact, Caldwell acknowledged at or about the time that this boxing promotion company faced short-term losses of hundreds of millions of dollars (the Funds' money), and personally attended business meetings on behalf of this company's shady entrepreneur, Alan Haymon, to pledge future financial support from the Funds."

    The "potentially criminal" element derives from Haymon's "possible indictment by the U.S. Department of Justice" and the ongoing antitrust lawsuit filed by Golden Boy Promotions and Top Rank against Haymon and his corporate entities in Los Angeles federal court for alleged attempts to monopolize and alleged violations of The Muhammad Ali Boxing Reform Act.

    A part of the PBC story that's always seemed curious is that not long after completing Haymon's funding, Caldwell left Waddell to become COO of the then fully-funded PBC, a nugget that didn't slip past plaintiffs in their complaint.

    "As a portfolio manager, Caldwell was supposed to be allocating the Funds' money based on the objective merits of the prospective companies and the investments, not acting to personally ingratiate himself with a boxing promoter or attempt to assist in the management of a private company...

    In fact, in June 2014, Caldwell actually resigned from the Funds, supposedly to join one of Haymon's companies as ‘Chief Operating Officer.' Caldwell's resignation raises issues over whether he was fired by the Trustees for making these investments, or whether he had a quid pro quo agreement with Haymon's company."

    Caldwell is described as the driving force behind the funds' investments in Media Group Holdings (MGH) which plaintiffs believe is a shell holding company that then invested in one or more of Haymon's corporate entities.

    According to the complaint, an unnamed hedge fund had previously declined to invest in a boxing promotion company "because revenues went to the fighters, making the investment unprofitable." 

    In discussions with a contact at the hedge fund, Caldwell allegedly learned of Haymon's plans "to buy up the management deals for a ‘critical mass' of fighters and use their leverage to dictate profits."

    According to the plaintiffs, Caldwell believed Haymon's "loss leading" purchase of fighter contracts was "an undervalued call option, with the high risk but very high return." But from the look of things so far, it's been all risk and very little return.

    The complaint reports alleged investment amounts which allowed Bloody Elbow to calculate each fund's apparent to-date losses in market value. 

    According to the complaint, there were six investments into the MGH holding company for a total of $925,339,000.

    Kapor et al. v. Waddell & Reed - 1a - Investment Table
    [Writer's note: The complaint appears to contain a math error in The W + R Fund section which should total $94,684,000.]

    According to Waddell's website, as of Mar. 31, 2016 these six investments now have a total market value of only $357,747,414, which implies that the investments allegedly used to finance the PBC have collectively lost over $567 million in a little less than three years.

    Losses are a part of investing, but in this case the plaintiffs argue that Waddell 

    - did not make material disclosures about MGH, 
    - made erroneous reports in financial statements, and 
    - failed to disclose the risks of its MGH investments. "

    The Trustees should never have allowed Caldwell to use almost $1 billion of the Funds' assets to participate in boxing promoter ‘fantasy camp,'" plaintiffs write.

    The federal lawsuit was voluntarily dismissed on Apr. 18 with a new case filed in state court the very next day. 

    Bloody Elbow has not yet obtained the state court complaint, but it stands to reason that the contents would likely be similar or the same.

    How does one allegedly lose over $500 million in a combat sports organization in just under three years? 

    Boxing's mega-manager Al Haymon might have just provided the blueprint: time-buys, loss leaders, allegedly spend hundreds of millions of dollars buying boxers' contracts.

    This is the "weather the storm" part of the investment, something Caldwell thought would take three to five years and we're just starting year four. 

    We seem to have some pretty unhappy Waddell fund shareholders and Haymon's facing an antitrust lawsuit from boxing's big promoters, but only time will tell how much value the PBC call option will maintain.

    Visit Fight Opinion for Zach Arnold's take on the lawsuit. Paul is Bloody Elbow's analytics and business writer. Follow him @MMAanalytics.


    Waddell + Reed Financial, Inc. is an American asset management and financial planning company founded in 1937. It has been a publicly traded company since 1998, and has its headquarters in Overland Park, Kansas. Wikipedia


    Waddell and Reed Shares Plunge After Key Fund Manager Announces Exit

    Waddell & Reed Financial (WDR) on Tuesday announced that Michael L. Avery, co-manager of the $15 billion, go-anywhere Ivy Asset Strategy Fund (WASAX), will retire at the end of June.
    Avery was a fixture at Waddell & Reed for decades, serving as president and co-portfolio manager of the Ivy Funds, Waddell & Reed Advisors Funds and Ivy Funds Variable Insurance Portfolios Asset Strategy portfolios. News of Avery’s retirement sent shares of the fund company plunging 14% to a nearly six-year low.

    Avery, 62, has co-managed the Ivy Asset Strategy Fund, the firm’s largest by assets, since 1997. Its track record remains among the top performers in Morningstar’s world allocation fund category over 15 and 10 years but has been middle of the pack in 2014 and 2015.

    Cynthia Prince-Fox and Chace Brundige will continue as co-portfolio managers of the Asset Strategy portfolios, and Avery will assist in transitioning responsibilities over the coming months, Waddell & Reed’s news release says. 

    The firm was already living under a specter of outflows as a result of a separate manager exit. Ryan Caldwell departed as co-manager in 2014, which led to a slew of outflows. When Barron’s Lawrence Strauss sat down with Avery back in 2014, the fund commanded nearly $36 billion in assets under management.








    Leon Spinks

    "The time is always right to do what is right." — Martin Luther King Jr. 

    Leon Spinks held the HW Title until the Rematch with Ali...

    A photo of recently dethroned heavyweight champion Leon Spinks sitting on a in Monaco, 1979

    Thursday, January 5, 2017

    Mickey Rourke wants to Fight again


    Mickey Rourke: I Want Two More Fights, Retire at 10-0 in 2017

    Published on Dec 17, 2014
    Rourke Fought Elliot Seymour last month and Seymour admitted to
    throwing the fight. Seymour says he took a dive. Seymour says the fight
    was fixed for $15,000. Elliot Seymour, the boxer who admits throwing
    his fight against Mickey Rourke, will be banned from getting in the ring
    again in New Jersey, and most likely in California too. TMZ Sports
    reports that Seymour copped to intentionally fixing the fight in their
    November match and got $15k for going down in the 2nd round. Now, boxing
    officials in Cali and NJ tell TMZ that there's no way they would
    sanction another one of Seymour's fights. As for Rourke, Seymour claims
    the actor was unaware of the fix.