Funny, how when a child becomes a man and makes a couple of dollars he doesn’t always show proper respect for those who helped him become what he became.
That’s what this cold war between Golden Boy Promotions reminds me of. Golden Boy Promotions wouldn’t be Golden Boy Promotions without HBO. The premium network gave Oscar De La Hoya’s company clout by signing it to a generous out-put deal beginning in 2007. By the time the deal expired in 2011 Golden Boy was one of the top promotional companies in boxing having transitioned from De La Hoya to Floyd Mayweather and numerous other champions.
But HBO made the unprecedented announcement yesterday it will no longer do business with Golden Boy and its fighters like Bernard Hopkins, Canelo Alvarez, Adrien Broner, Austin Trout and others. Ken Hershman, the president of HBO Sports, released a statement saying the decision was based on a difference in “business philosophies.” Basically, HBO didn’t like fighters it helped develop being moved over to Showtime, where former Golden Boy general counsel Stephen Espinoza is now the boxing boss.
“In order to achieve our goal of the best fighters in the most compelling matchups we’ve decided to focus our efforts and resources on those strategic relationships where we better share common goals and business philosophies,” Hershman said.
This is a game of chicken. HBO is hoping its status and healthy subscriber base will hurt Golden Boy’s recruitment and marketing of fighters, who want to be seen by the largest audience. There is plenty of product to fill HBO dates with Top Rank Inc., supplying the biggest stars and Lou DiBella’s DiBella Entertainment, Gary Shaw Productions and Main Events putting together quality events.
One insider suggested it was a brilliant move by HBO, which becomes the lone available buyer in a seller’s market.
“Everybody else in the business because of Golden Boy’s stranglehold on Showtime is going to be down Ken Hershman’s throat begging for their fighters to get an opportunity,” the source said.
Yet, Espinoza has the Golden Boy inventory, something he’s coveted and knows first-hand. He also has Mayweather, who recently signed a multi-year deal with the network. Richard Schaefer, CEO of Golden Boy, said he wasn’t surprised by HBO’s announcement. He said he hadn’t spoken with Hershman since December even though HBO televised Hopkins’ fight with Tavoris Cloud on March 9.
“He wasn’t interested in having a relationship, so fine. We all move on,” Schaefer said.
De La Hoya tweeted a more stinging response to the news Golden Boy was being dumped at HBO. “Game On!! I’m so pumped to bring all the great fights to @SHOsports and CBS. Good Luck With your captain sailing you through the Dead Sea.”
The last thing HBO wants is for Showtime to become the place for boxing. But this split gives Showtime a real shot. Showtime had no comment on HBO’s announcement. They were too busy smiling.
“Most of the big fights at HBO over the last eight years were with Golden Boy with the exception of the Pacquiao fights,” Schaefer said. “When Mayweather left (for Showtime) that shook them up more than we believed.”
“Everybody else in the business because of Golden Boy’s stranglehold on Showtime is going to be down Ken Hershman’s throat begging for their fighters to get an opportunity,” the source said.
Yet, Espinoza has the Golden Boy inventory, something he’s coveted and knows first-hand. He also has Mayweather, who recently signed a multi-year deal with the network. Richard Schaefer, CO of Golden Boy, said he wasn’t surprised by HBO’s announcement. He said he hadn’t spoken with Hershman since December even though HBO televised Hopkins’ fight with Tavoris Cloud on March 9 from the Barclays Center. “He wasn’t interested in having a relationship, so fine. We all move on,” Schaefer said.
De La Hoya tweeted a more stinging response to the news Golden Boy was being dumped at HBO. “Game On!! I’m so pumped to bring all the great fights to @SHOsports and CBS. Good Luck With your captain sailing you through the Dead Sea.”
The last thing HBO wants is for Showtime to become the place for boxing. But this split gives Showtime a real shot. Showtime had no comment on HBO’s announcement. They were too busy smiling.
“Most of the big fights at HBO over the last eight years were with Golden Boy with the exception of the Pacquiao fights,” Schaefer said. “When Mayweather left (for Showtime) that shook them up more than we believed.”