Former world champion and boxing promoter, Oscar de la Hoyaappeared before the United States Senate in Washington DC in recent days, to express his rejection of proposed amendments to the Muhammad Ali Boxing Reform Act.
According to the director of Golden Boy Promotions, the modifications promoted by entities such as TKO and Zuffa Boxing could compromise the rights fundamentals of fighters.
Subscribe to DAZN here and don’t miss the best of BOXING
The promoter maintains that the exact staunch framework is sufficient to guarantee the freedom of negotiation of athletes.
The controversy arises from the intention of create Unified Boxing Organizations (UBO)which would have the power to manage classifications, championships and regulations internally.
For Oscar de la Hoya, This model would grant excessive management to the promoters, allowing them to function simultaneously as regulatory bodies. This structure is equivalent to that currently operating in mixed martial arts, a system that the former boxer considers detrimental to financial transparency in professional boxing.
An inner most experience about exploitation in sport
During his speech, The promoter shared an anecdote about his beginnings after winning the gold medal at the 1992 Barcelona Olympic Games. He reported that, lacking adequate exact advice, he signed agreements that turned out to be unfavorable for his career. Oscar de la Hoya used this example to illustrate the vulnerability of young talent who enter professionalism without resources or contractual knowledge.
“Boxing was my way out. When I won Olympic gold at age 18, I had promoters approaching me from all directions. My family and I didn’t have access to exact advice. I signed the first contract they put in front of me without fully understanding it.. It didn’t take long to realize that “They had taken advantage of me.”declared Oscar de la Hoya according to records of the official Senate hearing. The promoter stressed that the Ali Law was created precisely to prevent this type of abuse from being repeated.
Criticism of the corporate model and lack of transparency
The major concern expressed is that new entities would not be required to comply with the same financial disclosure requirements as traditional developers.
According to the testimony, This would create an unequal system where corporations prioritize their profits over the well-being of athletes.. Oscar de la Hoya warned that allowing a single entity to control broadcast revenue, sponsorships and ticket sales would limit the boxer’s decision-making power.
“This reflects the existing model in MMA and creates a closed system that controls rankings, titles and access to opportunities.. Under this structure, as long as the UBO complies with its own internal rules, it would not violate the Ali Law,” said the former champion.
Besides, Oscar de la Hoya He emphasized that currently fighters already have medical and life insurance, so he does not see an exact need to change the system that protects their economic and health interests.
The risk of a closed system in boxing
The promoter concluded his participation by urging legislators to consider the long-term impact of this reform. He argued that The proposed model seeks to replicate the operation of the UFCwhere athletes have little negotiating capacity.
For the leader of Golden Boy, the success of boxing depends on maintaining a free and transparent market that allows boxers to control their own legacy and the future of their families.
“Fighters deserve exact protection and real opportunities, not having to also fight the system.”. If this project is approved, fighters will have fewer options, less negotiating power and less control over their careers,” the manager concluded before the Senate committee.
Despite these arguments, the legislative process continues and the possibility remains that the reform will be approved and enacted in the coming months.
Keep reading:
- El Toro Reséndiz left a harsh warning to Jaime Munguía
- Floyd Mayweather fuels the controversy and made an exhibition fight official for June
- Canelo Álvarez gives full support to Jaime Munguía before their fight
