A vaunted, half-century-year-old boxing promotional company is available for purchase … for the right price.
That’s what Top Rank founder and CEO Bob Arum relayed on a recent episode of SI Boxing with Chris Mannix.
“We always think about selling, sure,” Arum, 88, said. “Not that we look for a buyer, but we’ve had a number of attractive offers over the past year.”
Asked why he didn’t jump on them, Arum cracked, “They weren’t attractive [enough]. That’s the bottom line.”
At the same time, Arum said if such an offer ever came through his doors, he would sell the company “in two seconds.” Arum wouldn’t comment on the value of Top Rank.
“In two seconds (I would sell),” Arum said. “I would give them all the memorabilia also.”
Mannix pointed out that most business owners in Arum’s position would never be so cavalier about selling their company.
“Well, I would,” Arum responded.
Top Rank was founded in 1973 but traces it roots back to 1966, when Arum, who ditched his gig as an attorney for the U.S. Department of Justice during the Kennedy administration, promoted his first event, a heavyweight title fight between Muhammad Ali and George Chuvalo.
“It’s a race to see if [Top Rank is sold before] my demise or after my demise,” Arum quipped.
Arum said candidly that the right owners could take his company to the next level.
“If it was sold to the right people, it would do a lot better than it’s doing now,” Arum said. “We’re looking to sell it to somebody that can help make it part of my dream, which is world wide enterprise. I’m looking for the resources, wherewithal, and the knowledge to do fights in India and make boxing a really, truly international sport.”
Arum apparently has someone in mind. Who is it?
“I’m not going to tell you who,” Arum said, “because that will affect the price.”