Earlier today Top Rank Promotions filed a $100 million dollar lawsuit against Al Haymon and Waddell and Reed in a federal anti-trust lawsuit. The lawsuit states thay Haymon and company are using illegal tactics to form a monopoly of the boxing industry with their new PBC series. Haymon's lawyers responded to the suit earlier today with the following statement:
"On behalf of our clients Alan Haymon, Haymon Boxing LLC, Haymon Sports LLC and Haymon Holdings LLC:
The lawsuit filed today by Bob Arum and Top Rank is entirely without merit and is a cynical attempt by boxing's old guard to use the courts to undermine the accessibility, credibility and exposure of boxing that the sport so desperately needs.
The Premier Boxing Champions series makes boxing free again, by bringing championship boxing to free TV, with a fighter-first promise and a commitment to the fans to restore boxing to the luster of its heyday. The continued success of this effort will far outlast this baseless lawsuit."
Top Rank joins Golden Boy, who a few months ago filed a similar suit seeking damages up to $300 million dollars.