Donaire's decision renews rift between Golden Boy, Top Rank

The decision of Nonito "The Filipino Flash" Donaire Jr. to leave Top Rank Promotions and sign with rival Golden Boy Promotions (GBP) has typified the rift between Oscar De La Hoya's group and the company of veteran promoter Bob Arum. Several sources said that GBP founder De La Hoya has signed the reigning World Boxing Council (WBC) and World Boxing Organization (WBO) bantamweight champion to an exclusive, multi-year contract. The news was announced by the Los Angeles-based combat sport promotional firm in a statement on Wednesday (Thursday in Manila). "Nonito Donaire is one of the top boxers in the world today and we're going to make sure he gets the chance to defend his world titles and stays as active as possible," said Dela Hoya in a statement. "The bantamweight division is becoming one of the most competitive and exciting divisions in boxing and we look forward to promoting Nonito in great fights in the coming years." GBP Chief Executive Officer (CEO) Richard Schaefer also confirmed that Donaire is indeed joining the great De La Hoya's stable of fighters. "It's a big signing for us," Schaefer said in an interview published by USA TODAY. "He's on most people's pound-for-pound lists. From an excitement point of view, I think he's right on top of that list now. He's a young, exciting fighter, and we’re really happy to have him with Golden Boy." Arum, however, has threatened legal action, saying Donaire's contract with Top Rank is still valid until June this year. The latest battle between Golden Boy and Top Rank for Donaire's contract easily brings to mind the similar tussle they had in 2006 to land the promotional rights for Manny Pacquiao, a conflict that ended up in arbitration a year later. Arum unfazed The 79-year-old veteran promoter, set to arrive in the country on Monday to check on Pacquiao's training camp, insists Donaire still has a live contract with his promotional firm and believes the court will favor them in case the matter ends up in a legal battle. "We have a valid, enforceable contract and we'll pursue our legal rights against Donaire, Golden Boy and anyone else who is involved. We are absolutely confident we will prevail," said Arum. The Top Rank chairman stressed the three-year contract has a stipulation that included a one-year option. He said it also specifies that it will be extended in case medical suspensions are administered on Donaire, meaning periods during which the Filipino-American boxer is not allowed to fight owing to prolonged injury or cuts. Arum pointed out Donaire had several such suspensions. "Adding in the time we lost, it pushes the contract to 2013," Arum said. "So what this kid has to do now is to live up to the contract." PHL's top fighter next to 'Pacman' No doubt that after Manny Pacquiao, Donaire is the next best thing in Philippine boxing right now. And there are signs that the 28-year-old Filipino-American fighter might also follow the same path taken by his popular countryman. His impressive second-round demolition of then Mexican champion Fernando Montiel catapulted Donaire to full stardom. The Talibon, Bohol-native's five-minute work on Montiel earned him $350,000, easily the biggest purse of his 10-year pro career. Donaire first made headlines in 2007 when he stunned the boxing world with a sensational fifth-round destruction of then unbeaten Vic Darchinyan to wrest the International Boxing Federation (IBF) flyweight title. The bout was later named the Upset of the Year. Team Donaire cites breach of contract Donaire's camp cited breach of contract as the reason why they decided to no longer renew ithe contract with Arum's promotional company. Team Donaire said that under Top Rank's contract, the former flyweight champion will have to fight three times a year since signing the deal middle of 2008. In all, he fought only seven times during that stretch, including his win over Montiel to unify the WBC and WBO 118-pound belts. "I'm honored to be joining so many great fighters and champions on the Golden Boy Promotions team," Donaire said in a statement. "I'm going to fight my heart out every time I'm in the ring and will give fans the fights they want to see." Knowing Donaire's contract with Top Rank is over, Schaefer said Golden Boy just did the next best thing. "Once he declared he was a free agent, we became interested." "Who wouldn't be (interested)? I'm not an attorney, but we have a very good legal team and they agreed with Nonito's legal team and with their position, which paved the way for us to make an offer," Schaefer added. Donaire said that he's leaving everything to his long-time manager Cameron Dunkin and lawyer,Attorney John Bailey. Apparently, Arum offered the champion only $250,000 – the minimum prize money allowed under his contract – for his proposed next title fight against World Boxing Association (WBA) champion Anselmo Moreno, a figure that reportedly didn't sit well with Donaire and his camp. Arum reportedly raised the ante to $500,000, while adding that he believes Donaire will reach the $1 million level before the year ends. – With Jon Perez, RCJ, KY, GMA News