Daily Mirror (Northern Ireland)
Mcguigan son denies £75,000 Quigg fight expenses
Court dispute over Quigg fight cash
BARRY Mcguigan’s promoter son yesterday denied expenses from one of Carl Frampton’s biggest fights were “inflated” to £75,000.
Bl ain Mcgui gan al s o rejected allegations made in the High Court that high-value complimentary tickets for the world title showdown with Scott Quigg were being sold on the side.
He insisted all financial figures for the event at Manchester Arena in February 2016 were completely legitimate.
Mr Mcguigan said: “They have not been fabricated or anything g like that for the purpose of reducing profit.”
His f a t h e r a n d Mr Frampton are locked in a multi-million pound l e g a l b a tt l e o v e r their acrimonious split in 2017.
The 33-year-old former two-weight world champion is suing ex-manager Barry Mcguigan and the family’s Cyclone Promotions f or alleged withheld earnings.
In a counter-suit, the company claims the boxer is in breach of contract.
As Blain Mcguigan’s cross-examination continued on day 18 of the trial, the focus shifted to the Quigg fight which Mr Frampton won to unify the super bantamweight belts.
Un d e r a joint venture with co-promoter Eddie Hearn’s Matchroom organisation, Cyclone received just over £1.5million in July that year.
The court heard a further £580,000 came through ticket sales and overseas television deals. Gavin Millar QC questioned why his client Mr Frampton then had to wait until December 2016 before he was paid just over £1million.
He was told arrangements with Matchroom had to be sorted out first, a situation the boxer was “completely relaxed about”.
But, according to counsel, a disagreement had been developing throughout the year, with Mr Frampton switching to a Belfast-based accountant to look after his financial interests.
He contended: “This is all a complete cover for the fact you wanted to hold on to that money for as long as you could to have the benefit of that money.”
Denying the assertion, Mr Mcguigan insisted the company had no need to withhold earnings when it had other successful shows and TV deals at the time.
During the hearing, it emerged £75,000 had been allocated as expenses for the Quigg fight.
Mr Millar said this was part of an attempt to reduce the level of profits, without supporting invoices. He alleged: “You have inflated the expenses beyond what can be justified.”
T h e p r o mo t e r responded: “I completely disagree with you. There were a huge amount of expenses around this fight, it was a massive event, a 19,000-seater i ndoor arena i n Manchester with a huge amount of build-up, promotional work around that, multiple press conferences in different countries.” The hearing continues.
They have not been fabricated or anything like that BLAIN MCGUIGAN HIGH COURT YESTERDAY
ACTION Carl Frampton with wife Christine and solicitor John Finucane
added health staff needed help. Ms O’neill added: “The infection rate won’t stay at a low enough level unless we work very hard to keep it there.”
There have been 12 further Covid-19 linked deaths in Northern Ireland – eight within the past 24 hours and another four reported that occurred earlier, the Department of Health has announced.
There were another 516 new cases of the virus. The death toll stands at 752.
Members of the hospitality industry have said they have been expecting the Executive to extend Covid-19 restrictions next week.
Owner of Villa Italia restaurant Tony Giordano said his business had been “bleeding” as a result
WHEELED OUT Gran Tina in daughter’s car outside care home ‘HORRIFIC ORDEAL’ Ylenia is filmed in back of police car following arrest of the restrictions, but he was willing to go along with them if it is what the experts believe is the right thing to do to keep people safe. He added: “At the end of the day, we have to do what is necessary in order to get through this pandemic. The restrictions are bleeding my business but we have to follow what the experts say.
“Under the new scheme, the employer has to make contributions to National Insurance and pensions, but how are we meant to be paying tax when we cannot open and do
CONCERN O’neill not have an income? We still have rent and other bills to pay and this will only add further pressure to us and doesn’t offer the same level of support as during the summer.”
Steve Boyd , the owner of Thompsons Garage, said businesses were “fed up” with the uncertainty and would like to know how they can reopen safely.
He said: “If we were told conditions for reopening and what we had to do to make sure people are safe and the restrictions we had to follow, we would at least know what is going to happen in the future.”
STEPS Foster