Hall of Fame fighter and head of Golden Boy Promotions Oscar De La Hoya stepped between the ropes of the political field of Washington D.C. and spoke in defiance of the proposed The Muhammad Ali Boxing Reform Act which has passed through the House of Representatives and is pending a Senate vote.
“The UFC and its parent company agreed to a $375 million anti-trust settlement after fighters accused them of suppressing wages and restricting competition,” said De La Hoya’s famous left hook.
TKO Group — the parent company of UFC, WWE, and Zuffa Boxing, is supporting a revision of the act that would provide challenges to boxers who seek to have transparency in event gate profits, limit a boxer’s opponent choice and sanctioning body titles, and even restrict boxers from wearing sponsorship outfits and personalization on their fight trunks.
“This is a fundamental shift in power that … would put corporate profits first, fighters second,” continued De La Hoya.
Throwing verbal punches alongside De La Hoya was professional boxer Nico Walsh, the grandson of the greatest fighter who ever lived, Muhammad Ali.
“Boxing has never been perfect, but one of its strengths has always been competition. Multiple promoters competing for fighters creates leverage and fair market value. When that competition is consolidated to one system, that leverage disappears.”
“If this bill is passed in its current form, it should not have my grandfather’s name on it, as it would betray the principles his Act was created to protect,” Walsh said.
Of note, De La Hoya developed Golden Boy Promotions in 2002, two years prior to the passing of the original Ali act.
In its 24 years of existence, Golden Boy Promotions thrived in the sport of boxing en route to becoming the most successful boxing outfit in the United States today.
Without requesting a Muhammad Ali Boxing Reform Act.
