Golden Boy Promotions today filed a $300 million lawsuit against Al Haymon and his related companies and Waddell & Reed Financial, Inc. and its related hedge funds, alleging their repeated violation of the antitrust laws and the Muhammad Ali Boxing Reform Act. The case was filed in Federal Court in Los Angeles.
Since the moment Al Haymon launched Premier Boxing Champions, he has repeatedly and brazenly broken the letter and spirit of the Muhammad Ali Boxing Reform Act that is meant to protect fighters from exploitation. As part of an anti-competitive conspiracy that includes financial backers from Waddell & Reed, Haymon has “entered into agreements to restrain trade in a substantial portion of the market for promotion of Championship-Caliber Boxers,” the bombshell new lawsuit claims.