Apparently the investment funds for PBC are running low, down to $82M from a starting kitty of $512M. Let’s see if this is true. I highly doubt a respectable firm such as Waddell & Reed would miscalculate so badly & release such a large chunk of money to this venture, which is supposedly so close to failing. Surely research would have been done? Or has Haymon used half a billion to showcase his fighters and then bring them back to PPV? Who knows.
I don’t get a few things here?
- Where has the money gone so quickly? I know Haymon’s fighters are insanely over paid and several have private jets, but that’s a lot of money to use up this quickly.
- Where is the revenue from the fights? Some of the fights have done very big ratings, such as Danny Garcia and Robert Guerrero’s fights. Yes the gates have been weak as could be seen by Garcia vs Guerrero free tickets being given out to a lot of venues throughout LA, however the time buys would provide solid ad revenue, given the audience being in the millions.
Surely Haymon has a back up plan? Surely his close friend and business partner Floyd Mayweather Jr would make a return to keep this investment out of trouble. Keep in mind one fight from Floyd could very easily do that. Haymon has been a long time financial advisor to Floyd according to various youtube interviews, so it's hard to believe the two don't have a lot on the line and are relying on PBC to succeed.
I simply don’t understand the dynamics of this business, it’s well above my pay grade. I do know I’m ashamed of some boxing fans who have been hoping this would fail. Why? So we can go back to watching old television shows or old movies instead of live boxing? Even mismatches are better to watch then re runs of old movies and tv shows. I understand PBC has presented some serious mismatches. I totally agree with that. But we need to continue to try to push PBC to work. Free to air boxing is what the sport needs, increased exposure and much more.
There have been some alarms though. For example have a look at Deontay Wilder. Despite fighting in front of a larger audience, his viewership has dropped considerably. Yes his fights have been competing against some college football games, but that doesn’t justify a 50% drop in viewership. Maybe Wilder just isn’t a draw?
What Al Haymon has done could have been done by any major promoters including Top Rank & GBP, they just didn’t have the audacity to pull it off, or guts to invest so heavily. Haymon deserves an endless amount of credit for this.
Verdict: Well despite everything that’s been reported I will claim this. Al Haymon is apparently the smartest man many people will ever associate with. Haymon doesn’t make these mistakes. I call ‘FALSE’ on the latest reports. PBC will work. Haymon has some serious connections and if need be, the big draw card, Floyd can come in to steady the ship.
I am very interested to read your comments. So let me know your thoughts.
For the record several boxing insiders are claiming fighters part of PBC aren’t happy as they aren’t getting the fights they want. From what we have heard that isn’t true. They are more than happy with the insanely high purses and large audiences. These claims might have something to do with certain writers and journalists not being on PBC’s preferred communication mediums.
Just for the record. Al Haymon & Floyd Mayweather Jr's individual net worths are more than the entire PBC investment fund combined.