IBF withdraws Lopez vs Kambosos from Triller and Matchroom retakes rights
The IBF ruled on Wednesday that Triller was in default of his Feb. 25 scholarship offer for the long-delayed bout between unified lightweight world champion Teofimo Lopez and IBF mandatory challenger George Kambosos Jr., thus putting end to his involvement in the fight he won rights shockingly.
Now, the promotional rights for the fight go to the sub-bidder, Eddie Hearn’s Matchroom Boxing, who has the opportunity to fight under the terms of his scholarship offer. If Hearn passes, the fighting rights will revert to Lopez’s promoter, Top Rank, who will fight and has deliberately withheld one of his December ESPN dates in case he does have to fight, according to Top Rank chairman Bob Arum. .
However, Hearn plans to fight. He posted this on his Twitter account: âGlad to confirm that Matchroomboxing will be promoting the big unified match Teofimo Lopez vs George Kambosos live on DAZN. Date and place to be announced soon. Let’s put this show on the road.
The fight would probably take place in November or December.
Triller isn’t promoting either of the boxers, but he won the rights to the fight by shocking everyone by blowing the rest of the bidders with a bid of $ 6.018 million, a number so huge that he beat them. two other combined bids – a $ 3.506 million bid from Matchroom Boxing, which was bidding in conjunction with streaming service DAZN and Kambosos promoter Lou DiBella, and $ 2.315 million offered by Top Rank.
Under Triller’s offer, Lopez was entitled to 65% of the money ($ 3,911,700), although he should have paid 20% of Top Rank ($ 782,340). Kambosos was entitled to 35% ($ 2,106,300) less about a double-digit reduction from DiBella. Both fighters were looking at career scholarships.
Under Hearn’s offer, both fighters are said to still be on the hunt for top-tier career handbags. Lopez’s purse would be $ 2,278,900 and that of Kambosos $ 1,227,100.
Kambosos attorney Greg Smith last week called on the IBF to default on Triller over various alleged violations of the organization’s rules governing scholarship offerings. The IBF took several days to review it and delivered its decision via an emailed letter from IBF President Daryl Peoples to Triller’s lawyer Scott Schaffer and copied to others involved, a copy of which was was obtained by World Boxing News.
In the letter, Peoples described the various dates on which the fight was scheduled and then postponed and rescheduled, including from June 19 in Miami, as Lopez fell with Covid-19 a week before the fight.
The fight was eventually rescheduled to October 5 at the Hulu Theater in Madison Square Garden in New York City, then moved to October 4 in the same location to avoid a New York Yankees home playoff game. Next, Triller boss Ryan Kavanaugh said he wanted to move him again to avoid a “Monday Night Football” game and planned to move him on October 16 to the Barclays Center in Brooklyn, New York, the arena. rival of Madison Square Garden.
Lopez agreed to move the fight and signed an addendum to the contract. Kambosos, however, refused when Triller initially refused to sweeten his purse and then refused to place his purse in an escrow account. Kambosos was unwilling to travel from his home country, Australia, to the United States without the guarantee that his money was in place.
Triller settled his contract with Madison Square Garden, which kept the $ 150,000 rent already paid and received a six-figure payment for his problems, and moved the event to the Barclays Center on October 16 to tie it in with his popular rap fight music. series, but without Lopez-Kambosos.
âThe IBF has been consistent in agreeing to many date changes for this bout subject to all parties mutually agreeing to the date changes in accordance with Rule 10.F.1,â Peoples wrote in their letter, referring to the rule which states: “The boxing event must be scheduled to take place at least 28 days and at most 90 days from the date of award of the offer, unless a different date is agreed by written by the boxers and / or approved by the Championships Committee.
Peoples went on to write: “The IBF has not received anything indicating that George Kambosos has consented to the new date of October 16, 2021. Mr. Kambosos has not signed the ‘AMENDMENT TO THE AGREEMENT’. Apparently, Mr. Kambosos does not agree with the postponement of the contractual date from October 4, 2021 to October 16, 2021.
âOn September 28, 2021, the IBF received a letter from George Kambosos’ lawyer stating that heâ was ready, willing and able to box on October 4, 2021. âThe IBF does not have the power to box. require either boxer to accept the date changes.
âThe IBF was not officially notified of the proposed date change from October 4, 2021 to October 16, 2021, until we received the letter from Mr. Smith dated September 28, 2021. The IBF did not has not been consulted and has not approved or consented to this date change. The IBF has not received any notification from George Kambosos or his representatives indicating that they have agreed to postpone October 4, 2021 to October 16 2021.
“In the absence of Mr. Kambosos’ consent to postpone the fight to October 16, 2021, the IBF relied on the contracts of September 7, 2021, for the October 4, 2021 fight. The IBF has now been informed that the Lopez vs. Kambosos fight was removed from the October 16 event.
IBF Rule 10.F.2 allows Peoples to recognize the next highest bidder, which is Matchroom Boxing.
“Based on the above, the IBF declares Proxima / Triller in default and recognizes the next highest bidder, Matchroom Boxing, who will be allowed to promote the Lopez vs. Kambosos fight,” Peoples wrote.
When Triller won the handbag auction, he paid the required 10% of the auction amount and then the 10% required by IBF rules. This money – $ 1,203,600 – will be distributed to Lopez (16-0, 12 KOs) and Kambosos (19-0, 10 KOs) on the same 65-35 basis as the stock exchange division.
When Smith asked the IBF to find Triller in default of the scholarship offer, Triller countered by demanding that the IBF remove Kambosos from its mandatory status, return his deposit and set a new scholarship offer date despite the absence of rules to safeguard it.