When Muhammad Ali was lighting up boxing, the world was a different place. Legends became household names in an instant with their fights screened on terrestrial TV for all to enjoy. There was no Pay Per view. Everyone was invited to the party.
– Boxing: Kell Brook defeats Frankie Gavin in six rounds
– Boxing: Amir Khan in lacklustre win over Chris Algieri
– VIDEO: Justin Gatlin runs fastest 200m of 2015 in Eugene
Yet by the early 90s, times began to change. Satellite television lurched into the view, the toughest game in the world became a ruthless business, packed full of wolves ready to feast of its gargantuan carcass.
Rival promoters struck lucrative TV deals with the likes HBO, Showtime and Sky. The nadir was surely reached at the start of last month when US fight fans were asked to pay an eyewatering $100 to see Floyd Mayweather take on Manny Pacquiao in Las Vegas.
An even more astonishing 4.4 million buyers ensured all records were obliterated. Yet, was this the moment boxing, a sport which does so much good in deprived communities by giving those who are less fortunate a chance of a better life, lost touch with the people who are its lifeblood?
No matter. Al Haymon, the secretive advisor to Mayweather and the man now dubbed the most powerful in boxing, had already hatched a plan in 2013 to bring it flowing back into the prime time mainstream. It was called Premier Boxing Champions. And, according to the figures so far, it’s working.
A deeply private Harvard economics graduate who was best known for his work in the music business, 59-year-old Haymon clearly knows an opportunity when one arises.
Hate him or love him Al Haymon has been doing a good job with matchups on PBC. He has the potential to bring boxing back to the glory days.
— Uppercut Insider (@UppercutInsider) May 21, 2015
He’d earned a fortune working with Mayweather but this was about the bigger picture. Naturally, the biggest names in sport will always command the biggest deals. Yet Haymon’s PBC series isn’t just about one man.
He felt too many fighters were undervalued and wanted to help his ever burgeoning roster of boxers which, including Amir Khan, is reaching upwards of 150.
Too many leeches were feasting away with a blatant disregard for who, after all, really matters – the fighters. So the PBC was formed.
Haymon wants bright lights and simplicity. A multi-million dollar set complete with razor sharp lighting and a booming sound system have started to light up arenas.
There are no buxom ring girls. There’s no ‘let’s get ready to rumble’ screams. It’s broadcast on the likes of NBC, CBS, Spike TV (who have never done boxing before and screened Amir Khan’s win over Chris Algieri this weekend) and ESPN from this summer. HBO is in around 30 million homes. NBC can be viewed in over 116 million.
I was at the last two shows in Boston and in New York. There is certainly a different feel. Fighters, to ensure they remain the stars of the show, are sent out to the ring on their own. Only the main trainer is allowed in the ring. Certainly, it’s one in the eye for traditionalists, especially with a degree of disregard shown for sanctioned belts.
When James DeGale fought for the IBF supermiddleweight title against Andre Dirrell two weeks ago, there was no mention of the governing body on any of the promotional material. It’s all about the PBC brand. The best fighters in the best fights.
Carl Frampton & Cyclone have signed a partnership/teamed up with Al Haymon. pic.twitter.com/IlCiA24MXP
— Next Big Fight (@NextBigFight) May 28, 2015
Ask someone in the street what’s the difference between the WBC interim silver welterweight title and the ones on offer in the IBF and WBA. They will be clueless.
When Ireland’s Andy Lee fought to defend his WBO title against Peter Quillin back in April, the American weighed in over the 160 lbs limit, thus deeming it a non-title bout. Lee’s trainer Adam Booth said afterwards that it didn’t come as a surprise.
“They want a more UFC feel to it, “ he said. “They’re not bothered if he makes the weight or not.”
One heavyweight champ, one middleweight champ and so on. It’s the kind of linear model which has turned UFC into such a voracious animal.
Sources close to Haymon insist the idea of unifying everything isn’t a goal, especially with the first 12-18 month period being used to set out their stall.
Yet the notion of breaking it all down does appeal. Navigating through the legal and financial backwaters was incredibly complex though. It wasn’t a case of Haymon rocking up to NBC and pushing boxing back into the mainstream.
The TV company would help with production and provide analysts like Sugar Ray Leonard. PBC pays for some of the air time while also collecting rights fees. Haymon then earns from advertising and sponsorship across the multitude of cable channels who have declared intentions for a piece of the pie. He’s speculating to accumulate.
Upwards of $200 million will be invested in the hope the landscape will be changed forever. Sources believe Haymon is running the risk of losing everything. However, he has a huge pot to draw from.
An initial cash injection of $425m was extracted from a $40 billion fund that he co-managed for asset management company Waddell & Reed, who also pump $1.5bn into F1. Haymon’s management deals would be linked in with the money extracted from the fund while the 15 per cent share received from the fighters earnings would provide a revenue stream once the purse began to exceed $100,000. Purses are based on shares of revenue from the fight.
Yet looking at the money spent for that first card back in March, the stark reality of the outlay needed to get the party started is quite remarkable. The Nevada State Athletic Commission papers show the four fighters on the televised card bagged $4.425m – main draw Keith Thurman and Robert Guererro split $2.7m while Adrien Broner raked in $1.25m.
The figures are not representative of all the shows – the first on Spike had the main event sharing $1.25m – yet gives a clear insight of the kind of money which Haymon must be bleeding in the hope PBC is here to stay.
The desperation to build the brand at a massive financial cost has caused consternation with some, especially UK promoter Eddie Hearn. He was left stunned when bidding rights for the show in Boston which topped the bill with DeGale, who is managed by Hearn, saw the American blow everyone out of the water with a $3m bid.
It was huge fee considering the lack of US gravitas on the card with around 3,000 inside the 7,200 Agganis Arena, while one promoter was seen during the weigh-in on Friday desperately trying to give away tickets for free – only to get rebuffed a number of times. Yet it showed how serious Haymon is.
Viewing figures have been impressive too. Four million tuned in for the first telecast between Thurman and Guerrero making it the most watched card in a 12 month period between April 2014 to 2015. It was hitting the crucial 18-49 age demographic perfectly. Not everyone is happy though.
Oscar de la Hoya, owner of Golden Boy promotions, has unleashed a $300m lawsuit at Haymon Boxing, citing the Ali act which was introduced to protect the rights of fighters.
De la Hoya, obviously bitter at a fall out which saw his former CEO Richard Schaefer join Haymon and his friends, believes he is illegally operating as a manager and a promoter. There are loopholes to jump through.
Legendary New York fixer Lou Di Bella, for example, has been working the Big Apple and Boston shows while other promoters are paid a fee to help run others.
“The raw numbers of people watching boxing has increased, “ Di Bella told Sport360. “Boxing went from the biggest sport in the US to fading behind major team sports. We have to go beyond the hardcore boxing fan for it to rise again. We need younger people watching. The figures suggest they are.”
