According to Dan Rafael of espn.com, Jay-Z’s new promotional outfit, Roc Nation won the right to promote the WBO Middleweight title bout between Peter Quillin and Matt Korobov.
Roc Nation Sports bid a whopping $1,904,840 and handily defeated two other bidders.
Golden Boy Promotions, which represents Quillin, bid $1.2 million, and Korobov promoter Top Rank offered $515,000. The minimum bid was $200,000. The purse bid took place because Golden Boy and Top Rank declined to negotiate the fight with each other.
“I’m definitely surprised by their participation,” said WBO President Paco Valcarcel. “On behalf of the WBO, I welcome Jay Z and his company, Roc Nation (Sports), and wish them nothing but success in their quest to put on quality boxing events and represent well the fighters they eventually sign. We are honored that they have chosen a WBO world championship contest to mark their entrance to the sport as boxing promoters and look forward to working with them.”
Reaction from Golden Boy and Top Rank was swift and positive. Their fighters will each take home their biggest career payday. As the titleholder, Quillin is entitled to 75 percent of the winning bid ($1,428,630), and Korobov will receive the remaining 25 percent ($476,210).
“I’m surprised by the offer but glad someone like Jay Z and his team realize the value and opportunities in boxing,” Golden Boy president Oscar De La Hoya told ESPN.com.
Moretti added: “Congrats to Roc Nation and their team on winning the bid. Top Rank and Matt Korobov will fully cooperate with the terms and any promotional requirements they may ask of us. Jay Z may have ’99 Problems,’ but apparently purse bids aren’t one of them. Welcome to the business of boxing. Plus, I’d rather lose the bid and win the fight any day of the week.”
