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Thread: GBP Files $50M Suit Against Schaefer

  1. #1
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    GBP Files $50M Suit Against Schaefer

    Not sure if it is news for you guys over there, it is for me.

    I knew this was coming, particularly with all the action related to Haymon signing up guys (seemingly facilitated by Schaefer) that may have otherwise been signed to GBP; in Oscar's absence.

    This one will be a barn-burner as both Oscar and Schaefer go waaaaay back!!!!!

  2. #2
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    Re: GBP Files $50M Suit Against Schaefer

    Quote Originally Posted by stormcentre View Post
    Not sure if it is news for you guys over there, it is for me.

    I knew this was coming, particularly with all the action related to Haymon signing up guys (seemingly facilitated by Schaefer) that may have otherwise been signed to GBP; in Oscar's absence.

    This one will be a barn-burner as both Oscar and Schaefer go waaaaay back!!!!!
    Woho! That's certainly news to me storm, thanks for posting.

    Oscar must have some serious grievances to be sticking Schaefer for that much. Televised trial anybody?

  3. #3
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    Re: GBP Files $50M Suit Against Schaefer

    Yes, it’s an arbitration suit, and not a law suit as such; but the damages, risk, dollars and reputation are all still the same!

  4. #4
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    Re: GBP Files $50M Suit Against Schaefer

    I am spending my New York morning rounding up material on this for tonight's show. Being it's three hours earlier in Callifornia, I will not have much luck speaking to anybody out there.

    -Randy G.

  5. #5
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    Re: GBP Files $50M Suit Against Schaefer

    This is an interesting development though not one that's not entirely all too surprising.

    I am not a legal expert and am obviously not familiar with the contract Schaefer signed with Golden Boy. But wondering a few things...Will Schaefer counter? And is the reason Schaefer held onto his shareholder stake in Golden Boy for legal purposes such as an arbitration suit? What impact does holding a stake in the company have in such matters?

    The sport is going to undergo some major changes as we have all discussed in the coming weeks and months ahead. This is a piece with much more to come.

  6. #6
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    Re: GBP Files $50M Suit Against Schaefer

    I would have been greatly disappointed in GBP if they hadn't. It's the correct move.

  7. #7
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    Re: GBP Files $50M Suit Against Schaefer

    Quote Originally Posted by dino da vinci View Post
    I would have been greatly disappointed in GBP if they hadn't. It's the correct move.
    Yes it's hard to imagine that GBP doesn't have damages as a result of Schaefer's actions.

    But then we will see what Schaefer's lawyers say about it - as I am sure Schaefer will vehemently argue that it was virtually impossible to make the decisions required whilst Oscar was incapacitated with his "health" problems; whether he was present or not and/or in rehab.

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