Roy Englebrecht Promotions To Be Acquired

Oscar De La Hoya Forms Golden Boy Promotions Inc.

LOS ANGELES (Dec. 20, 2001) - While continuing his quest in the ring, six-time world champion Oscar De La Hoya will utilize his vast knowledge of boxing to expand into the business side of the sport with the formation of Golden Boy Promotions Inc., it was announced today.
The formation of Golden Boy Promotions makes De La Hoya, 29, the first Hispanic to own a national boxing promotional firm and one of only a handful of boxers in history who have taken on promotional responsibilities while still active.

"Given the tremendous interest in boxing with the Hispanic communities and the strong growth of the Hispanic population in the United States, I felt it was time for a Hispanic to enter the boxing promotion business in a meaningful way," De La Hoya said. "I have been thinking for many years of ways to give something back to the sport, which has been so good to me and I came to the conclusion that a national boxing promotions business was the way to go."

"The focus, however, will not only be with Hispanics. My door will be open to fighters from all over the world who are looking to find a platform, which will allow them to grow and perform at their best. Our value proposition will be built on high ethical standards, total transparency and competence."

De La Hoya also announced that he has acquired Roy Englebrecht Promotions, the longtime Orange County-based group owned by Englebrecht. Englebrecht will retain an equity piece in the new company and serve as chief operating officer. Richard Schaefer will serve as CEO and Oscar De La Hoya will be president of the new company.

"I wanted to ensure that Golden Boy Promotions was addressing the entire universe of boxing shows from non-televised events in local neighborhoods to televised shows in exciting venues to premium cable shows to, ultimately, pay-per-view events," De La Hoya said. "I feel only by growing into the business from the bottom up can one truly build a strong promotional franchise. In the process, we will bring boxing back to the casual fan and strengthen the sport by providing shows for all tastes and budgets."

With the acquisition of Englebrecht's 12-year-old company, Golden Boy Promotions immediately secures the 30 or more fight dates that Englebrecht had scheduled in 2002. Golden Boy Promotions will stage pro boxing shows at the Compaq Center at San Jose, the Tallahassee (Fla.) Civic Center, the Irvine (Ca.) Marriott, the Centennial Garden Arena in Bakersfield (Ca.), the Pala Indian Casino, the Commerce Casino, is working to continue to do two shows in Del Mar, Ca, and is working on an agreement with the Arrowhead Pond of Anaheim, to continue their two year boxing relationship.

De La Hoya To Promote Fights

"I was overwhelmed with the vision that Oscar had for the future of boxing," Englebrecht, who promotes approximately 20 percent of all boxing shows held in California, said. "It is an honor for me to be included in this venture. We will develop a long-term business plan for Golden Boy Promotions that will cover all aspects of the business of boxing. We will be promoting at venues all over the country. We will scout, sign and train fighters. We will develop a strategy for each boxer that joins Golden Boy Promotions plotting out the proper pace and opponents, with the goal of putting them all in a position to fight for world championships."

"I am convinced that we have put together one of the best teams in boxing," De La Hoya said. "Our expertise and name recognition in boxing, our business acumen combined with our high ethical standards will be the blueprint by which a boxing promotion business will be measured against in the 21st century. We have already received a tremendous interest from corporate sponsors, television and cable operators as well as many business executives, who would like to be involved with us.

"Over the next few months we will put together an advisory board which will include personalities from sport, entertainment, business and politics and will sign strategic alliances with partners we feel will help us to implement our strategy and mission statement."

One of the most celebrated boxers in history, De La Hoya has collected belts at junior lightweight, lightweight, junior welterweight, welterweight and super welterweight. He became the youngest boxer (28 years old) to win world titles in five weight classes and also did it quicker (nine years) than either Sugar Ray Leonard or Thomas Hearns, the only others to win titles in five different weight classes. Leonard was 32 and in his 11th year as a pro when he won his last crown. Hearns was 33 and had been boxing for 13 years.