Gennadiy Golovkin sues Golden Boy Promotions for minimum $3 million
Middleweight champion Gennadiy Golovkin filed a lawsuit on Friday against Oscar De La Hoya's Golden Boy Promotions for at least $3 million stemming from a 2018 rematch fight against Canelo Alvarez, multiple sources confirmed Monday after BoxingScene first reported.
Golovkin, known as GGG, is alleging "breach of contract, breach of fiduciary duty, conversion, constructive trust, and accounting" ESPN said. The Kazakhstan native, currently living in L.A., is seeking a jury trial.
According to the complaint, Golovkin is looking to be paid interest on the $9,025,351 Golden Boy still owed him in January 2021. Golovkin contends the amount, which Golden Boy reportedly paid in July 2021, is inaccurate due to an accounting error.
Per ESPN, "the boxer seeks at least $450,000 in sponsorship revenue, $177,458 in 'other funds simply not paid though listed on Golden Boy's own accountings,' approximately $31,500 (45% of around $70,000 in additional PPV revenue), expenses incurred by the postponement of the rematch after Alvarez tested positive for a performance-enhancing drug, and unapportioned insurance expenses."
Alvarez won the bout by majority decision.
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