WBC Upholds Stevenson-Gvozdyk Purse Bid

The promoter of Adonis Stevenson, Yvon Michel, has officially won the rights to promote the upcoming light heavyweight title fight between Stevenson and challenger Oleksandr Gvozdyk, as the WBC has officially ratified his purse bid.

Michel’s $2.101 million bid originally was not the highest, however, as back on July 2 TGB Promotions $3.102 million. Top Rank, Gvozdyk’s promoter, was 3rd with $1.675 million. But TGB Promotions suddenly withdrew their bid, angering the WBC and Top Rank’s Bob Arum.

Arum claims the withdrawal leads him to believe Michel and TGB’s Tom Brown had colluded because of belief the bids would be determined by Al Haymon, the longtime advisor to Stevenson. Top Rank claims that TGB and Michel agreed to aim for the top two bids, and then TGB would bow out to give the rights for the fight to Michel — meaning less money for Gvozdyk. Michel has denied any wrongdoing.

The WBC has allowed the bid to stand; however, TGB Promotions will be punished for the withdrawal. Michel hopes for the fight to happen on November 3 in Quebec City, Quebec, Canada. Stevenson will be entitled to 65 percent ($1,229,085), while the challenger will get 35 percent ($661,815) of what is left after $210,100 — 10 percent of Michel’s bid — comes off the top. That remaining money will go to the fighter winner as a bonus.

Bob Yalen, the WBC’s supervisor of the purse bid, called both Michel and Arum to let them know of the organization’s decision.

“[Yalen] did add the WBC will tighten up its rules regarding a bid,” Michel said. “Top Rank reiterated their commitment to give us a close collaboration in every aspect of the organization of the fight.”

Arum said that he now believes Michel did not do anything wrong.

“We lobbied for that result because I think that was the only fair thing,” Arum said. “Carl believed Yvon was taken by surprise by the other bid and Yvon outbid us, so he’s entitled to do the fight.

“My view of the ruling is, I support it completely and I advocated for it. But I would like the WBC to tighten up the rules to the extent that they exact a punishment from somebody like Haymon or Brown who did what they did — to put a bid in and then immediately withdraw it. I realize you can’t make the penalty retroactive but certainly going forward they can do something to prevent this from happening.”

Original Story: ESPN

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