Sports Finance Report: BSE CEO Brett Yormark on the Return of Big-Time Boxing to Brooklyn

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BSE CEO Brett Yormark on the Return of Big-Time Boxing to Brooklyn

On Saturday night, WBC Champion Deontay Wilder (39-0, knocked out every fighter he’s faced) will defend his title against Luis “King Kong” Ortiz (28-0, 24 knockouts), headlining a night of fights at Barclays Center (and on Showtime, CBS). Brett Yormark, the CEO of Brooklyn Sports & Entertainment, is the man responsible for bringing big-time boxing back to Brooklyn. JWS caught up with Brett at the Wilder/Ortiz press conference on Thursday afternoon and asked him about the return of big-time boxing to Brooklyn, the value the Brooklyn Boxing franchise brings to Barclays Center and if we can expect Brooklyn to land the Wilder/Joshua fight (should he defend his title).

JWS: Brooklyn has a storied boxing history that dates to the late 19^th century; but, before Brooklyn Boxing’s arrival on the scene, it had been 80+ years since the borough held a title fight. What was the motivating factor to bring boxing back to Brooklyn and to Barclays Center?

Brett: When I took this job, I spent some time to truly understand and identify the D.N.A. of the borough from a sports & entertainment perspective, where some of the history was. I read about the Tyson’s and the Riddick Bowe’s. I visited Gleason’s gym and realized this could be a differentiator for us.

JWS: You talk about being in the big event business, but early on there was some criticism that Brooklyn Boxing fights were “mismatched”. That’s no longer the case with the biggest heavyweight fight in 15 years, at Barclays Center this weekend. Has there been a change in strategy in terms of the fights you look to book or was the early competition simply a product of being new to the business (i.e. taking the fights you could land)?  

Brett: Early on, we looked at volume as opposed to keeping it real premium. About a year and a half into it, we decided that rather doing X amount of shows, let’s concentrate on doing 6-8 of the biggest and best shows possible each year. Those are the shows that the people want to see and that matter the most; and we’ve seen attendance rise to an all-time high as a result.

JWS: Barclays Center is among the 3rd highest grossing arena in the U.S. ($83.7 million). How big of an impact does Brooklyn Boxing have on the bottom line?

Brett: The boxing business is a nice revenue stream for us but you can’t compare it to our anchor tenants like the Nets or Islanders, or some of the more mature businesses that we have. What boxing delivers though, that some of the others don’t, is the glamorization of the borough and our building. People are recognizing Barclays Center as a major sports and entertainment venue and that creates a lot of value for us. So, it’s not so much about the immediate economics; it’s what boxing can do as an over-arching platform for the building.

Howie Long-Short: BSE oversees programming, marketing, sales, and operations for Barclays Center; NYCB LIVE’s Nassau Coliseum; LIU Brooklyn Paramount Theatre; and Webster Hall. BSE also manages and controls the Brooklyn Nets and its NBA G League team, the Long Island Nets, as well as the business operations of the NHL’s New York Islanders. The privately-held company is owned by Mikhail Prokhorov.

Fan Marino: Should Wilder defend his title on Saturday night, it will set-up a potential showdown with IBF, WBA and IBO championship title holder Anthony Joshua. I asked Brett, should that occur, can we expect Barclays Center to host what would be among the most anticipated Heavyweight Title fights of the last 40 years?

Brett: From a business perspective and a fan point of view, everyone is looking forward to that fight. I can’t sit here today and tell you we’re going to get it, but I will tell you that we’re in the big event business. I’ve made it crystal clear that if there is a Wilder/Joshua fight, which at some point in time there has to be, we’ll be in the mix and I’ll be very aggressive in going after it.

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Roy Jones Jr. on Lessons Learned from a Failed Venture and Wilder vs. Ortiz

Roy Jones Jr. is among the best pound-for-pound fighters of all-time, having won a Silver medal at the ’88 Olympics before becoming a 6-time World Champion. He’s currently involved in a handful of ventures including a music business (just released Body Head Bangerz Vol. 2, SM Bullett is also signed to his label), a boxing training school (RJJ Fight Academy), a promotion company (Roy Jones Jr. Boxing Promotions) and he has a career as a color commentator (HBO, TWX). JWS got a chance to talk with Captain Hook about his recent retirement, lessons learned from a failed venture and his thoughts on the Wilder/Ortiz bout Saturday night.

JWS: You just fought on February 8^th, winning a unanimous 10-round decision and have won your last 4 fights. If you’re still the better fighter each time you get in the ring, why are you retiring?  

Roy: Just because the risk outweighs the reward now. It’s not enough money to risk going out there at 49 years old; you’re not as fast as you used to be, strong as you used to be. These guys aren’t coming out to let you win, they’re coming out to beat you. These guys look at it like “hey that’s Roy Jones, I don’t care what age he is, I’m trying to beat him.”

JWS: Now that you’re retired, you’re committed to training (out of his gym in Pensacola, Florida) and promoting fighters; but, this isn’t your first foray into the promotion business and you weren’t particularly successful the first time around. Why is it going to be different this time?

Roy: When we tried the promotion company, we didn’t go out and get the up and coming guys that were marketable. We were getting pretty good fighters, but they were not marketable fighters. I was busy with my own career. I didn’t have the time to hand pick fighters. Now that I have the time, I can find guys with the potential to go on to something bigger. I was letting other people do it (select the promotion’s fighters) and other people don’t know it (have an eye for talent) like I know it (have an eye for talent). You can’t depend on other people to do the job, when you know you’re the man for the job.  

JWS: The fight is on Showtime, so you won’t be calling it; but, can I get a prediction?

Roy: It’s going to be a good fight. I think Ortiz is a very good opponent for Wilder. If Wilder can hit him early, I think Wilder can knock him out; but, if he doesn’t, it could be really rough for Wilder because Ortiz has a lot of experience. I think Wilder gets him early.

Howie Long-Short: Roy Jones Jr. doesn’t need to be fighting at 49 years old, he’s doing so because he “can, at an elite level”. Jones had a particularly lucrative boxing career. It’s been estimated that his net worth is upwards of $45 million. If that’s the case, the only boxers worth more are Ali ($50 million), Vitali Klitschko ($65 million), Pacquiao ($100 million), Leonard ($120 million), Lewis ($130 million), De La Hoya ($200 million), Foreman ($250 million) and Mayweather Jr. ($400 million).

Fan Marino: We saw Connor McGregor get into a boxing ring with Floyd Mayweather and hold his own. I asked Roy, generally speaking, is it a bad idea for an MMA fighter to consent to a boxing match with a professional boxer?

Roy: It’s not a bad idea for an MMA fighter to get into a boxing right. Some MMA fighters get good at boxing and they are probably capable of beating a few boxers. A lot of those guys boxed before they got into MMA. It would be stupid for a boxer to go over, as you saw with James Toney, and try to do MMA; unless he knew judo or was a wrestler before he started boxing.

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