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Shareholders Cut Ties To Golden Boy

Glax0r's Photo Glax0r 15 Oct 2014

Shareholders cut ties to Golden Boy


Updated: October 14, 2014, 10:39 PM ET
By Dan Rafael | ESPN.com

Golden Boy Promotions president and co-founder Oscar De La Hoya has bought out the two largest shareholders in the company besides him, at their request.

In a deal recently completed, De La Hoya bought back Anschutz Entertainment Group's approximate 20 percent stake in the Los Angeles-based company and the approximate 12 percent of the company held by Gabriel Brener, a private investor and chairman and CEO of Brener International Group. Terms of the deal were not disclosed.

According to a source with knowledge of the deal, AEG and Brener initiated the sale because they had seen no return on their investment as Golden Boy has never made a distribution to its shareholders. AEG, for example, invested millions beginning in 2008 and had little to show for the investment.

"We have enjoyed a long and mutually beneficial partnership with Golden Boy Promotions. Earlier this quarter, Golden Boy Promotions re-purchased AEG's equity interest in the company that was originally acquired in May of 2008," Dan Beckerman, president and CEO of AEG, told ESPN.com. "We wish Oscar De La Hoya all the best and we look forward to continuing to host Golden Boy Promotions events in our venues in the years to come."....

READ THE FULL ARTICLE ON ESPN AT: http://espn.go.com/b...-boy-promotions
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simba's Photo simba 15 Oct 2014

If Oscar indeed bought them out, GBP is still floating.   According to the article, millions invested.
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Irving A. Gonzalez Ramirez's Photo Irving A. Gonzalez Ramirez 15 Oct 2014

No big deal. No company is obligated to pay dividends to its shareholders. This does not mean gbp is any sort of financial trouble.
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9secondko's Photo 9secondko 15 Oct 2014

So in other words, nothing of note.

Meanwhile, I'm wondering if Arum is helping out...

Can see him wanting to stop the haymon erosion of boxing.
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ShameLess's Photo ShameLess 15 Oct 2014

View Post9secondko, on 15 October 2014 - 04:49 AM, said:

So in other words, nothing of note.

Meanwhile, I'm wondering if Arum is helping out...

Can see him wanting to stop the haymon erosion of boxing.
MANE u thank Bob da Jew bastard cares bout boxing! dat dirty fuck care bout he money ane nothing else. him just mad Haymane gots mo power dan him rite now
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johnnyblaze's Photo johnnyblaze 15 Oct 2014

This goes to show how things were when Swiss Dick was running the company and why the investors were so p1ssed off.
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DreadedFist's Photo DreadedFist 15 Oct 2014

View Postjohnnyblaze, on 15 October 2014 - 10:27 AM, said:

This goes to show how things were when Swiss Dick was running the company and why the investors were so p1ssed off.

Meaning things were better or worse than DIcky Schaef was running the show and why?
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johnnyblaze's Photo johnnyblaze 15 Oct 2014

View PostDreadedFist, on 15 October 2014 - 12:45 PM, said:

Meaning things were better or worse than DIcky Schaef was running the show and why?
About the same, the investors didn't get any returns then or now.  Guess Dick wasn't doing the amazing job that he proclaimed.
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simba's Photo simba 15 Oct 2014

AEG,s investment was probably the use of their facilities/venues for incentive $$$$$
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jermaine's Photo jermaine 15 Oct 2014

View Postjohnnyblaze, on 15 October 2014 - 10:27 AM, said:

This goes to show how things were when Swiss Dick was running the company and why the investors were so p1ssed off.
"We have enjoyed a long and mutually beneficial partnership with Golden Boy Promotions. Earlier this quarter, Golden Boy Promotions re-purchased AEG's equity interest in the company that was originally acquired in May of 2008," Dan Beckerman, president and CEO of AEG, told ESPN.com. 
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jermaine's Photo jermaine 15 Oct 2014

View Postjohnnyblaze, on 15 October 2014 - 04:07 PM, said:

:mellow:/>
mutually beneficial.... :shrugs:
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johnnyblaze's Photo johnnyblaze 15 Oct 2014

View Postjermaine, on 15 October 2014 - 04:12 PM, said:

mutually beneficial.... :shrugs:
PR lines :mellow:

AEG, for example, invested millions beginning in 2008 and had little to show for the investment.
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gdgills's Photo gdgills 15 Oct 2014

PR lines true, but why bail on Golden Boy now and not last year or the year before?  I think it may suggest a lack of confidence in O's ability to run the org.  Pure speculation on my part, but the timing of this after a big break up of leadership and a new announced direction makes me think they got a little nervous and want their investment back now not liking the companies direction.
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Chance's Photo Chance 15 Oct 2014

View Postgdgills, on 15 October 2014 - 04:24 PM, said:

PR lines true, but why bail on Golden Boy now and not last year or the year before?  I think it may suggest a lack of confidence in O's ability to run the org.  Pure speculation on my part, but the timing of this after a big break up of leadership and a new announced direction makes me think they got a little nervous and want their investment back now not liking the companies direction.
Who is AEG?
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