▶ 0:21:32>>>> good morning, the senate committee on, and scum a transportation will come to order. Four generations boxing has been a part of the rhythm of american life. It lived in neighborhood gy ms, friday night flight cards, radios, stories passed down from one generation to the next. Fathers watched fights with their sons.
▶ 0:21:58Kids grew up knowing names like joe lewis, sugar ray robertson, muhammad ali, george foreman, mike tyson. Boxing has never been just about titles, it's about discipline, preparation, willingness to step into the ring and answer the bell. That's why the movie rocky still indoors.
▶ 0:22:30That hard work and perseverance matter. Sometimes a fair shot is enough to change everything. Rocky is fiction but it lasts because it never felt fake. It strikes a nerve with us because it captured something real. The fighter that nobody believed in, long odds, early mornings.
▶ 0:23:03Rot effort not to mention raw eggs. It is the refusal to quit that stands the test of time. As mike tyson is famous for saying everyone has a plan until they get punched in the face. One of the reasons boxing has always occupied a special place -- place in our imagination.
▶ 0:23:31It is not just about the outcome , it's about the courage to step into the ring and fight. Congress recognized the importance of this pastime 30 years ago when it passed the professional boxing safety act and later the muhammad ali boxing reform act. Those laws were meant to protect fighters, promote fairness, to address real abuses that had taken root in boxing.
▶ 0:24:00They were meant to set basic guard rails without remaking the sport from washington. With every change comes trade-offs. That framework helps to guard against abuses and preserve some level of competition within the sport. At the same time it has contributed to a system that is overly complex with multiple sanctioning bodies, competing interests, recurring challenges in organizing fights.
▶ 0:24:31Views on this structure differ. Some see it as a necessary feature that protects independence and competition. Others see it as a source of fragmentation that makes boxing harder to navigate for fighters and fans alike. This complexity shows up in ways that fans recognize. Highly anticipated fights are never materialized.
▶ 0:25:04In some weight classes, multiple fighters are recognized simultaneously as champions. Making it harder to follow the sport and harder to determine who truly is the best. The broader landscape has shifted as well. Mixed martial arts has grown rapidly over the past two decades. Delivering more consistent match ups and drawing larger audiences while boxing's biggest viewership is concentrated on a handful of marquee fights.
▶ 0:25:37Three decades after congress first acted we have an opportunity to reflect on the specific ways the federal framework may be doing more harm than good. These dawes -- laws undoubtedly help prove health and safety standards for fighters and a lack of transparency in contracts and rankings. However, those laws have also locked in place an arrangement that makes boxing harder for fans to follow.
▶ 0:26:09Against this backdrop the house of representatives recently passed the muhammad ali american boxing revival act with overwhelming bipartisan support. The bill creates a pathway for a unified league style structure to exist alongside the current system. It introduces the concept of a unified boxing organization because the world needed more acronyms.
▶ 0:26:37It would operate much like a traditional sports league where a centralized entity employs athletes while still allowing the traditional model to continue as well. After having spoken to numerous stakeholders across boxing and combat sports it is clear there are persistent challenges in the current model. Challenges that fighters, promoters, fans alike recognize even if they differ on the cause.
▶ 0:27:08With that in mind I expect to soon introduce a senate version of the ali revival act. We need more predictable pathways for matchmaking and simplified rankings. Allowing for a more unified structure to take hold could help the sport compete more effectively against other combat sport competitors.
▶ 0:27:34I have no doubt that throughout the legislative process there will be changes. There will be amendments to address real concerns and to make sure we design a system that operates in the best interest of everyone, fighters, sport, fans. Today the committee is gathered a group of witnesses who have lived this to help create a final product that is a win for fans and boxers alike.
▶ 0:28:07I look forward to hearing from our witnesses and a conversation that helps us take a clear look at the issues and moves us forward thoughtfully. With that I recognize ranking member rosen.
▶ 0:28:24Sen. Rosen: Thank you for holding this really important hearing. I want to welcome our guests. I thank them in advance for their insight as we work to craft something that will work for everyone. I will take a point of personal privilege because my in-laws first date was to the fights as my mother-in-law used to say. They went to a boxing match. They were married 62 years. They always love the fights. I just remember them today.
▶ 0:28:56Sen. Rosen: They were big fans their entire life. They are no longer with us but maybe they are sitting here today. My father-in-law for sure. It has been two decades since the congress committee has held a hearing to discuss the boxing industry.
▶ 0:29:15Sen. Rosen: That was before the rise of mixed marble arch -- mixed martial arts, streaming searches, the look into head trauma in sports as a progression of disease like cte. Suffice to say we are long overdue to examine the state of boxing in america. I want to thank this panel of witnesses for being here to testify at such an important part of sports and economy here in nevada.
▶ 0:29:46Sen. Rosen: I'm interested to hear what each of you has to say on the challenges boxing is facing and what legislative solutions we should consider. Boxing has a storied history in america. In my hometown of las vegas it has been and remains the undisputed capital of combat sports. The biggest fights take place there, the largest purses are paid.
▶ 0:30:12Sen. Rosen: We are the proud home of the ufc and this past week we hosted wrestlemania. We have been the site of countless legendary boxing matches from the infamous tyson versus holyfield fight in 1997 and the highly anticipated mayweather versus pack yell about in 2015, the highest grossing event in all of boxing history. Las vegas has seen it all. When most states had outlawed prize fighting nevada welcome the sport.
▶ 0:30:45Sen. Rosen: The growing entertainment industry in las vegas with an ecosystem that supported boxing as boxing bouts drove tourism industries in our states. Last september the canelo versus crawford fight drew over 70,000 fans. It became the most men's -- most watched men's championship boxing match of this century so far.
▶ 0:31:13Sen. Rosen: Over 90% of those attending the fight were not locals and they came to las vegas specifically for this fight which drove over $300 million of economic impact. Today for people around the world picturing a championship fight, they picture a legion stadium, mgm grand arena or t-mobile arena in las vegas.
▶ 0:31:38Sen. Rosen: That also means any significant changes to the boxing industry would have profound impacts on las vegas, the venues, promoters, boxers, workers. When congress first passed legislation, it did so with a clear purpose of establishing health and safety protections.
▶ 0:32:12Sen. Rosen: Rampant in the industry. Since then multiple bills have been introduced in an attempt to improve boxing and combat sports although none have passed. In 2020 six boxing has the potential to once again captivate people across the country around the world that canelo and crawford fight is proof of that but with so much entertainment computing for $70 you would argue boxing is due
▶ 0:32:43Sen. Rosen: For some kind of change that will revitalize the sport and bring it back to its former glory. The question is for us how to best go about opportunities with expansion while protecting boxing. The boxers themselves.
▶ 0:33:01Sen. Rosen: If that's what we have to do, I'm interested to hear what you all have to say today how we could improve boxing as a whole because anytime this is on the structure of the sport it is critical we understand the impact and how incentives could change an entire sports landscape. Boxing is the oldest sport that is federally regulated.
▶ 0:33:26Sen. Rosen: We owe it to the sport, the athletes, their trainers, everyone in the ecosystem and their fans to get the regulations right. Thank you. >> I would like to introduce our witnesses for today.
▶ 0:33:49Sen. Rosen: Ladies and gentlemen on my left wearing a blue pinstripe suit, he's 11 time world champion across six division. He holds a professional record of 39 wins, six losses with 30 wins by knockout. He captured olympic gold and earned his nickname, the golden boy. Now a major promoter at golden boy promotions weighing in at 133 pounds.
▶ 0:34:20Sen. Rosen: [laughter] our first witness is the pride of east l.a., Mr. oscar de la hoya. Really quiet crowd today.
▶ 0:34:40Sen. Rosen: Also on my left is the executive director of the florida athletic commission and the president of the association of boxing representing 56 regulatory commissions across the united states, his background includes 21 years of honorable service in the united states marine corps, there we go.
▶ 0:35:01Sen. Rosen: 20 years as a combat sports regulator for his contributions to combat sports he was introduced into the florida boxing hall of fame and the florida mma hall of fame. We welcome to the committee Mr. tim shipman. [applause]
▶ 0:35:19Chair Cruz: On my right is a boxer out of las vegas nevada, holds a professional record of 13 wins, two losses, one draw, five wins by knockout. He comes off a unanimous decision victory in his most recent bout in december. He is the grandson of the legendary boxer, muhammad ali. We welcome Mr. nico ali walsh.
▶ 0:35:50Chair Cruz: Finally in the right corner of the panel. A business man with extensive experience in combat sports, formerly the cohead of television where he represented the biggest names in sports media and now the president of world wrestling entertainment and a promoter of boxing, we welcome to this committee Mr. nick khan.
▶ 0:36:21Chair Cruz: If you could touch gloves you are recognized for five minutes. [bell dings]
▶ 0:36:32Mr. De La Hoya: Members of the committee, thank you very much for this opportunity. My name is oscar de la hoya, I'm a U.S. olympic gold medalist, six division world champion, I care deeply about boxing and more importantly about the fighters who step into the ring and risk their lives for our entertainment. I believe the proposed changes to the muhammad ali boxing reform act take us in the wrong direction.
▶ 0:37:02Mr. De La Hoya: Today you will hear many different perspectives. Some may want to discredit the decades long that sports stakeholders have done to create a safe sport that puts fighters first and creates a free marketplace for fighters to negotiate the best deal for families and personal legacies. I grew up in east los angeles with very little. Boxing was my way out. When I won the olympic gold I had promoters coming at me from every direction.
▶ 0:37:31Mr. De La Hoya: We didn't have access to legal advice. I signed the first contract put in front of me without understanding it. I had been taken advantage of. That experience is not unique. Many fighters enter this for young, trusting, without resources. Once they are locked into the wrong deal it is difficult to get out. That is exactly why the ali act exists.
▶ 0:38:00Mr. De La Hoya: As a national hero, prisoner of war, someone that is a golden glove fighter, the need to protect them. It reflects that commitment to fairness and protecting fighters from being taken advantage of. The ali act addresses real problems including conflicts of interest, lack of transparency, and the exploitation of fighters. It creates a system designed to protect fighters and preserve a fair open marketplace.
▶ 0:38:30Mr. De La Hoya: Those protections still matter today. This principle change allows a promoter to create an entity that serves as both promoter and governing body. A so-called unified boxing organization. This exists in the mma model and creates controlling rankings, titles, opportunity.
▶ 0:38:51Mr. De La Hoya: Under this structure as long as the new deal complies with its internal rules it will not violate the muhammad ali boxing reform act. Traditional promoters like myself would be required to comply with full financial disclosures and reporting requirements. When the system operates with transparency while the others do not. This is a fundamental shift in power that is changed when we put corporate profits first, fighters second.
▶ 0:39:21Mr. De La Hoya: We should be clear about who benefits from this. The boxing leadership at tko have already said they intend to build, a model similar to the ufc. We already know what that model looks like and it does not work for the fighters. The ufc and its parent company agreed to a 970 $5 million antitrust settlement after fighters accused them of suppressing wages and restricting competition.
▶ 0:39:50Mr. De La Hoya: At the same time zuffa boxing is fully funded by the saudi's. We have seen how that is reshaped another sport, liv golf> that was sports washing. A clear effort to reshape reputation. Now they are drawn in by the money and try to come back to the pga tour. This serves as a warning. Transparency is just as critical .
▶ 0:40:21Mr. De La Hoya: Current zoo for contracts fighters are allowed to have earnings with little ability to negotiate. The owner controls all major revenue streams. While fighters are limited to guaranteed purses and discretionary bonuses we have only participation and upside revenue. Fighters won't have leverage when one system controls all opportunities.
▶ 0:40:48Mr. De La Hoya: Fighters already have the right to see the financials behind every event they had line giving them a fair opportunity to negotiate compensation. I want to address safety. Boxing already has strong safeguards in place and the existing protections including health insurance for interviews. They ensure fighters are medically cleared.
▶ 0:41:14Mr. De La Hoya: If this proposal is truly about protecting fighters why are mma athletes not including at all. They are completely excluded. It is about whether they are truly on protection. Fighters deserve real protection and real opportunity. If this bill passes, fighters will have fewer choices, less leverage, less control over their careers. It will not be the sport that failed them, it will be us.
▶ 0:41:45Mr. De La Hoya: Thank you very much.
▶ 0:41:46Chair Cruz: Thank you.
▶ 0:41:49Mr. Shipman: Thank you. I can't override what you gave to me. Thank you very much. Our testimony reflects these experiences and is intended to provide the implementation and potential impact of the muhammad ali american boxing act.
▶ 0:42:15Mr. Shipman: The current state of boxing regulation, the florida athletic commission is responsible for regulating professional boxing, kicks march -- kickboxing, mixed martial arts within a state. Florida remains one of the most active combat sports markets consistently ranking among the top five in combat sports and top three in boxing.
▶ 0:42:40Mr. Shipman: The state has hosted major national and international promotions. We pride ourselves on being a leader in fighter health and safety. We want to maintain significant medical requirements and oversight standards including oppositions at all events. Robust medicals and strong post about monitoring procedures. These safety measures produce real-world results.
▶ 0:43:09Mr. Shipman: Doing an event last year a fighter collapsed in the ring. Florida requires a ringside physician to be president and not simply on-call the doctor was able to initiate lifesaving care within seconds. The fighters survived because of safeguards. This is precisely why strong medical standards matter.
▶ 0:43:34Mr. Shipman: Propose a significant update to the federal framework, including provisions related to fighter safety. The organizational structure. My testimony today will focus on how these changes may function in practice and there potential impact at the state level.
▶ 0:43:58Mr. Shipman: The bill includes several enhancements that align with and in some cases exceed florida's already high standards. These include medical checks and protocols, insurance coverage, additional measures. The -- they have fighter compensation with insurance coverage.
▶ 0:44:21Mr. Shipman: These provisions make promote greater uniformity across jurisdictions and are implemented with the financial considerations with both commissions and promoters. With respect to the implementation the state will need to update rules, procedures, administrative frameworks to reflect the bills and requirements. We estimate the implementation timeline of approximately 3-6 months depending on the timing and clarity of the federal guidance.
▶ 0:44:51Mr. Shipman: The bill introduces structural reforms, most notably the creation of a unified boxing organization. These are intended to expand pathways for fighters to compete, improve compensation, increase access to medical care and promote transparency across the sport. Ubl also offers more consistent access to training opportunity.
▶ 0:45:19Mr. Shipman: Why reshaping the traditional framework from a regulatory perspective, this represents a substantial sift -- shift on how ubl could integrate with licenses and oversight systems. Faculty coordination standards and state regulatory authorities remain essential to the duplication of conflict requirements.
▶ 0:45:47Mr. Shipman: The overall impact of legislation could depend on this structure with federal guidance and level of coordination. Adequate time, clarity, flexibility are essential for smooth and effective transition. In closing, florida stands ready to work and implement any active requirements with effective oversight and promoting safety and welfare of all participants.
▶ 0:46:18Mr. Shipman: Thank you.
▶ 0:46:20Chair Cruz: Thank you.
▶ 0:46:24Mr. Walsh: Thank you for the opportunity to appear before you today. My name is nico ali walsh. I am a boxer and the grandson of muhammad ali. My name is directly tied to the muhammad ali boxing reform act. Not just as a fighter reflected by it but a part of the legacy the log represents.
▶ 0:46:55Mr. Walsh: People will say fires -- fighters will have options, that we could go elsewhere. When the same company controls who you fight, how you are promoted, it is not much of a choice. When one system controls access the choice becomes theoretical, not real. The all the act was built on a simple principle. The people controlling fighters should not control the entire marketplace those fighters depend on.
▶ 0:47:25Mr. Walsh: That exists to prevent conflicts of interest and exploitation. The new muhammad ali act will revitalize that principle. The management and matchmaking removes independence. When that happens you fight who you are told to fight or you don't fight at all. At that point real choice disappears and so does negotiation.
▶ 0:47:53Mr. Walsh: This type of centralized system has seen its martial arts, particularly in the ufc were a single organization controls promotion, matchmaking, fighter contracts. Fighters typically receive 20% of the revenue. The newly proposed revival act pushes this on to boxing behind the claim that boxing is broken.
▶ 0:48:24Mr. Walsh: Boxing is not broken. If it were ufc champions at the height of their careers would not be actively targeting boxing fights because of fair pay. That movement is rarely seen in reverse due to the ufc's centralized pay structure. Boxing has never been perfect. One of its strengths has always been competition. Multiple promoters create leverage and fair market value.
▶ 0:48:59Mr. Walsh: This is an abstract. I'm living it. Fighters understand speaking up could come with severe professional consequence. That reality creates silence and that silence is part of the system. I personally benefited from protections that exist today. After one of my fights I was notified my opponent tested positive for performance-enhancing drugs. That fight was ruled a no contest.
▶ 0:49:26Mr. Walsh: That process, testing and oversight work. In another fight I suffered a severe shoulder injury in the ring. The current system ensured I received immediate medical attention throughout my recovery. These are real examples of the system working to protect fighters. Protection should be strengthened around health and safety.
▶ 0:49:54Mr. Walsh: Not used as justification in a way that removes power from fighters. We could protect fighters more effectively than we do today. If this bill is passed in its current form it should not have my grandfather's name on it as it would betray the principles that his act was created to protect. He fought for dignity outside the ring.
▶ 0:50:27Mr. Walsh: Fighters should not have to choose between careers and rights. 55 years ago, my grandfather's name appeared on these grounds before this government. He took a stand for what he believed in. He didn't know it could cost him everything. Today I'm here decades later in that same spirit not as a symbol but as a fighter living through the reality of the system.
▶ 0:50:59Mr. Walsh: This moment is not about the past. It's about whether we continue on the same principles now.
▶ 0:51:07Chair Cruz: Thank you.
▶ 0:51:11Mr. Khan: Chairman cruz, senator rosen, members of the committee, it is a privilege to appear before you today. I'm president of wwe. I help running zuffa boxing. I'm also a lifelong fan of boxing which makes the current state of the sport all the more difficult to witness.
▶ 0:51:38Mr. Khan: Congress created the mohamed it -- muhammad ali boxing reform act to diagnose a serious problem with the start -- sport. They could remedy the problem and restore one of the great american sporting institutions. It may sound odd to some people but there was a time when boxing in america was bigger than football and basketball. 50 years ago when rocky came out during the 1976 bicentennial, boxing was the most culturally dominant sport in america.
▶ 0:52:12Mr. Khan: Muhammad ali 540 times that year. The rumble in the jungle was broadcast over 700 million people worldwide. 1976 was the year sugar ray leonard one gold in montreal. Sugar ray leonard in the $18 million for a single fight. The average nfl salary was $80,000. Tell it follows money.
▶ 0:52:43Mr. Khan: The best athletes in america chose boxing then. The 1984 los angeles summer, perfectly encapsulates boxing before its decline, nine americans won gold medals in 1984. In stark contrast, the U.S. has not won an olympic gold medal in men's boxing in over 20 years.
▶ 0:53:08Mr. Khan: In fact it has only won one male gold in boxing in 30 years since the 1996 olympic games. Congress diagnose this problem 26 years ago. Almost every major american sport could force rules and standards and create conditions for stars to emerge. Boxing has never had that structure.
▶ 0:53:36Mr. Khan: It has a patchwork of sanctioning bodies whose business model is charging boxers money for the right to be called champions. The wbc alone recognizes 163 champions. This should be 18 champions across 18 weight classes.
▶ 0:54:01Mr. Khan: Those fees come directly out of the fighters purses, typically 3% for both champion and challenger. The muhammad ali boxing revitalize act is built on a simple premise, give boxers the freedom to choose a better system. The act as it currently stands would remain in place the system as it currently stands would remain in place.
▶ 0:54:27Mr. Khan: Create the framework for unified boxing organizations otherwise known as ubo that could do a major sports do, promote competition, develop talent, enforce consistent standards across one roof. This delivers concrete protections that are long overdue. First, minimum pay of $200 per round. A floor that exceeds the minimum in 49 states and equals that of the highest, california.
▶ 0:54:57Mr. Khan: Mandatory injury insurance of $50,000 at no cost to the boxer. Today thousands compete with no insurance at all. Under the structure if it is passed, the health insurance would kick in when training camp starts. Not just on the night of the fight. When the fighter goes into camp if there is an injury that is covered. Many fighters fight injured because there is no insurance.
▶ 0:55:33Mr. Khan: Third, a six year cap on promotional contracts comparable to rookie contracts in baseball and football. Fourth, standardized medical protocols for every boxer. Annual brain mri, cardiac testing, brain health taxing -- testing. Anyone could form a ubo.
▶ 0:56:00Mr. Khan: Any existing boxing promoter, anyone as long as they are willing to meet those protection standards. As for safety and fair treatment of the boxers. If that disqualifies you the problem is not this bill. Few bills passed with overwhelming bipartisan support. This one did through the house incorporating multiple changes.
▶ 0:56:27Mr. Khan: Some of the sanctioning bodies oppose this bill because it threatens their dominance over the sport. In 2028 the olympics returned to l.a., the same city where those nine americans won boxing gold. There's a chance american boxing will be prepared to meet the moment. Otherwise we will find ourselves spectators and our own stadium.
▶ 0:56:49Mr. Khan: To ensure this doesn't happen we are committing $1 million to organizations that build pathways to the amateur ranks. That starts with police athletic league's which have introduced generations of americans to the sport including a young cash's clay. It is an unconventional commitment. Rebuilding boxing starts in the gyms.
▶ 0:57:16Mr. Khan: I am grateful for your time, I welcome any questions.
▶ 0:57:19Chair Cruz: Thank to to each of the witnesses and I will say at the outset, there are hearings that are sometimes designed to drive a point, hearings will be are genuinely seeking the input of experts. I will put this hearing in that category. This bill passed overwhelmingly in the house. That is unusual for a bill to get that wide bipartisan support. From those on the far left and far right.
▶ 0:57:51Chair Cruz: They came together because there was a widespread perception. There was a problem that could be addressed by congress. The illustration of the problem, right now, the l.a. Dodgers are the world series champions. Nobody disagree with that proposition. The seattle seahawks are the super bowl champions. Nobody disagrees.
▶ 0:58:17Chair Cruz: Ranking member cantwell would certainly be interrupting and gloating about that fact. If I'm a new fan trying to get into boxing, we have four experts of the sport right now. Could anybody tell me who is the current middleweight champion?
▶ 0:58:45Mr. Shipman: -- Mr. khan: there is no middleweight champion because there's at least four people who say they are the middleweight champion. The wa -- the wba, the wbc, the ibf title is vacant. Their interim champions are underneath. In terms of who is the middleweight champion? By definition there is no middleweight champion.
▶ 0:59:17Mr. Shipman: There is confusion and chaos compared to when you and I were younger. Marvin hagler was the middleweight champion. The answer to that question does not exist.
▶ 0:59:28Chair Cruz: I want to ask the remaining witnesses, is that a problem? Is that something that could and should be improved?
▶ 0:59:38Mr. De La Hoya: You mentioned confusion back when sugar late -- sugar ray leonard was a world champion. So was marvin hagler who held the world title as well. Thomas hearns held a world title as well. The great roberto durand also held a world title.
▶ 1:00:07Mr. De La Hoya: I don't believe that confusion comes from having multiple world champions. I believe confusion comes from or the fights not taking place comes from the actual fighter themselves. We cannot force the fighter to fight.
▶ 1:00:27Mr. De La Hoya: There has been many examples where for instance floyd mayweather, he protects his own because he has an agenda to protect his record. He doesn't fight certain fighters. That is the individual fighter. I strongly believe fights are being made like the one coming up on cinco de mayo.
▶ 1:00:56Mr. De La Hoya: The one fight we did with ryan garcia and take davis, which was highly successful. There is no confusion. I go back to being here for the fighter. The muhammad ali act protects the fighter. That is why we are here.
▶ 1:01:22Chair Cruz: You describe various health and safety requirements, it is it -- is it your experience of those are good or beneficial?
▶ 1:01:32Mr. De La Hoya: Boxing has those safeties in place. We have the ambulance. Mia is a former fighter, I have seen it firsthand. I have promoted thousands of fights and never had an issue with safety.
▶ 1:01:55Chair Cruz: You mentioned in your opening statement a desire for greater transparency, could you elaborate on that? What transparency do you believe is lacking and what would make it better?
▶ 1:02:07Mr. De La Hoya: Transparency has since the bill passed, the muhammad ali bill passed, transparency has been in place in today's boxing system and business, the fighter makes the majority of the money.
▶ 1:02:32Mr. De La Hoya: In the system they want to implement tko and the ubo it would be the other way around. Transparency is very important to the fighter. Laws that are in place are important to the fighters to protect the fighter.
▶ 1:02:58Mr. De La Hoya: >> in terms of health and safety of boxers in the ufc when it was purchased 30 years ago, in that 30 years there has not been one death of a ufc fighter. In the last 30 years in boxing there have been 63 deaths that have occurred within a week of a fighters fight, deaths compared to zero in the ufc.
▶ 1:03:23Mr. De La Hoya: In terms of the state of the sport now, it is not just the confusion. Senator mentioned canelo and crawford, a fight that we promoted. We got netflix to buy into the fight. We moved a unlv football game out of the legion stadium so we could have that fight at a football stadium. We had a significant merchandise deal with fanatics.
▶ 1:03:54Mr. De La Hoya: All of which they participated in and all of those revenues. There was boxing every weekend. There was boxing on abc, cbs and at times nbc. The major media conglomerates outside of the deal where we would get with paramount, there is no boxing in the history of television on any major media conglomerate.
▶ 1:04:18Mr. De La Hoya: Fox got out, showtime got out, hbo got out, abc got out, cbs got out.
▶ 1:04:26Chair Cruz: You came from the media and entertainment world, why did they get out?
▶ 1:04:37Mr. Khan: Ultimately there was no return on investment. Floyd mayweather and many taxi out took six years to put together. The ollie and frazier trilogy took course over five years. Three fights over the course of three years compared to taking six years to make the fight that everyone wanted. How many fans were lost in those six years?
▶ 1:05:06Chair Cruz: If you were addressing an up-and-coming boxer watching this hearing and thinking ok this law passing is it a good thing for me or bad thing? What are the benefits of allowing a ubo provide to the next generation of boxers?
▶ 1:05:27Mr. Khan: It provides an additional option. The current state of boxing could exist. Feel free to sign with those promoters. If you want a chance to be something bigger over a shorter period of time on a platform we were able to secure a deal with paramount on a platform that has almost 80 million subscribers worldwide and has a network partner in cbs, if you want that exposure, trading card deals, merchandise deals, videogame
▶ 1:06:00Mr. Khan: Deals, if you want all of that that is your choice.
▶ 1:06:15Mr. De La Hoya: If I'm a young fighter who wants to go to a promoter, why would I sign a contract that if I am a four round fighter I am getting paid the minimum amount of money. If I lose that fight, under the ubo that promoter decides how much I make. I believe that is unfair.
▶ 1:06:42Sen. Rosen: -- >> may speak please? Concerning the safety of the bill as it stands right now there is much needed safety improvements in this bill that has an impact and safety on all of the fighters that participate.
▶ 1:07:01Sen. Rosen: Not only would that safety but also as a recommendation the sanctioning bodies could collaboratively work with associations to develop the ranking system. They rank these fighters, I think that would solve a lot of problems. Safety of this bill is paramount. I thank you for having that in there. That means a lot.
▶ 1:07:34Sen. Rosen: It is an important hearing on both sides. That is good for us to hear from everyone as we begin to think about what we would do. I'm glad to have witnesses hear from unlv graduates from las vegas. They are constituents of mine. I want to direct my first two questions to both of them. Mr. walsh, the first one will be for you. In your eyes you are boxing now.
▶ 1:08:06Sen. Rosen: What is the greatest challenge in the sport of boxing and the athletes, you are the one that has to execute, you could do all of the other things, you are the one that walks in and has to execute on that?
▶ 1:08:22Sen. Rosen: What are the greatest challenges you think you face today and what issues considering we are a legislative body to think we should really consider in light of that if you were to maybe prioritize a few.
▶ 1:08:42Mr. Walsh: Thank you for recognizing our unlv ties. As a professional boxer now, I love boxing. I think the sport is in a great place. I think we are headed towards the golden age. I understand there are concerns with it being confusing whether it be the belts, titles, who is champion. That kind of chaos I believe makes boxing.
▶ 1:09:11Mr. Walsh: Having fighters fight each other to become unified and become the undisputed champion, that's what everybody wants to see. He mentioned it took six years to make the tacky out -- pacquio and floyd fight. We absolutely agree with that. That is horrible. That is not on boxing, that is on the fighters.
▶ 1:09:39Mr. Walsh: At the time window floyd mayweather did not want to fight manny. It was protecting that record. Of course there is a bunch of health.
▶ 1:09:58Sen. Rosen: If we are legislators working in the health space would it be helpful?
▶ 1:10:03Mr. Walsh: I don't believe anyone in boxing would disagree with the fact that health and safety concerns could be added to the sport, we could always benefit more from them. We could do that without stripping fighters of their rights. My grandfather's original all the act -- ali act, this revival act will bring back that monopoly.
▶ 1:10:33Mr. Walsh: They say we have a choice. Once they control everything we won't have a choice.
▶ 1:10:39Sen. Rosen: In the spirit of trying to help us legislate which is sometimes different than what happens in the entertainment sphere, you are pretty good. Being a boxing announcer, maybe a second career.
▶ 1:10:56Chair Cruz: I might be putting in a job application.
▶ 1:11:01Sen. Rosen: As we think again for us as legislators, the success for us, what things do you think could be transferred when thinking about boxing's future? We probably all agree on the health and safety as something we could take on in a bipartisan way. I want to hear from you.
▶ 1:11:27Mr. Khan: Has over 1 -- wwe has 100 deals with their legends, they received compensation from us. Because of their compensation -- participation in video games, trading cards, action figures, all of these ancillary revenues.
▶ 1:11:48Mr. Khan: Floyd mayweather, manny tacky -- pacquiao, you couldn't buy an action figure, videogame. It doesn't exist because of the broken system. You have heard people say it is floyd, the two promoters did not like each other.
▶ 1:12:14Sen. Rosen: Can't legislate that.
▶ 1:12:15Mr. Khan: There are plenty of people we do business with that we are not particularly fond of. We do it for the fighters, fans, and to grow the start -- sport. If we talk about the olympic gold medalist earlier, 1960, caches clay takes the light heavyweight gold. Joe frazier, heavyweight in tokyo. 1968, george foreman.
▶ 1:12:45Mr. Khan: 1984, the nine olympic mail gold medalist in the l.a. Games. 1996, floyd mayweather. 1992, the golden boy takes over the world with his performance in the ring and personality out of the ring. 1996, ray mercer, roy jones gets robbed. 1996, david reed wins the gold. Since then, just one in 2004.
▶ 1:13:20Mr. Khan: The amateur system is something the professionals do not support sufficiently. That is the pipeline. We have to make it easy for fighters. We have a performance center for wwe. If you want to try to do it, come check it out. You don't have to sign anything.
▶ 1:13:40Sen. Rosen: I yield.
▶ 1:13:42Sen. Moreno: I'm wondering if there's a governing body association that represents announcers because if there is, our chairman's post career could be something interesting. You could have a whole new line of business. I would encourage all of you to figure out a consensus point of view.
▶ 1:14:13Sen. Moreno: What is clear from your testimony is that there is an appetite to do something, to do something done. Particularly when there is not consensus among the industry players, it is very hard for that to go forward. Whatever you could do to bring us a consensus position, all of you love this sport and care about it a lot. I think ohioans care a lot about boxing as well.
▶ 1:14:45Sen. Moreno: We will start with you, Mr. de la hoya. Do you feel there's enough done on the safety for boxers? Is there more that needs to be done that can be incorporated into a bill that gets passed?
▶ 1:15:00Mr. De La Hoya: Yes, absolutely. Thank you for having me speak here. Safety is always the most important for a fighter. I am more than open to hear what else we can improve the safety of the fighter. As we speak today, fighters are well taken care of. I have been in this boxing game since I was four years old.
▶ 1:15:29Mr. De La Hoya: I have witnessed from the amateur ranks, from golden gloves to the olympic games to the professional level fighters are well taken care of. If I may, I want to speak on the fact that if the ubo is formed, 10% to 20% of fighters are going to go to the ubo and the rest
▶ 1:16:00Mr. De La Hoya: Will stay in the current system because they want to fight for the titles. The world titles mean everything to a fighter. Since the amateurs, fighters want to become the next ali, the next chavez, the next de la hoya. Yes, safety is a priority for us in the current system now.
▶ 1:16:21Sen. Moreno: Mr. shipman?
▶ 1:16:25Mr. Shipman: I do think that the safety requirements and medical requirements should be by law as some states and jurisdictions don't mandate the same type of medicals. That needs to be consistent across the board with the development of the history of the fighter. Commissions would have the opportunity to decide of the fighter is good to fight in their jurisdiction for safety reasons.
▶ 1:16:51Mr. Shipman: For that reason everything in the bill shows that medical is important and is documented so we can make fair and right decisions. I also think that fighters should have a choice. Whether it is the ubo or traditional route, but the biggest thing is no fighter jumps to the top without starting at the bottom and developing their way up.
▶ 1:17:22Mr. Shipman: I think that will cause some development to be done, then the fighters can choose how they want to make a living. I don't think that the -- that should have an impact on safety aspects and fighters should have a choice.
▶ 1:17:39Sen. Moreno: Mr. ali. I had a poster of your grandfather when I was in college.
▶ 1:17:53Mr. Walsh: You are welcome to come to the gym anytime, whether announcing sparring partners or fighting yourself.
▶ 1:18:00Sen. Moreno: He does the second half here very well.
▶ 1:18:04Mr. Shipman: Good, --
▶ 1:18:08Mr. Walsh: Good, good. I believe are all in agreement with when it comes to the health and safety concerns in boxing. It can always be strengthened. Myself as a fighter, like I mentioned in my testimony, I have benefited from the current state of boxing currently. I've had a major injury in the ring that required surgery and boxing took care of me. Same when I fought my opponent testing positive for performance-enhancing drugs.
▶ 1:18:39Mr. Walsh: I was taken care of with that as well. These new health concerns can be added. Like I said, it can be added without stripping the fighters of their current protections.
▶ 1:18:52Sen. Moreno: Mr. khan, what is going to take to bring wrestlemania to cleveland, ohio? We are building a new stadium next to the airport. The only domed stadium and a cold weather climate near a major airport. We can drive right across the street. 2029 or 2030, which is better for you? You had some are slamming cleveland.
▶ 1:19:19Mr. Khan: It was quite successful for wwe and our wrestlers. It was not enough that luke and paul pressures me on a weekly basis, now we feel the pressure from you, senator.
▶ 1:19:34Sen. Moreno: Total and complete pressure. 2029, 2030, I will leave that up to you.
▶ 1:19:46Mr. Khan: There was an article in the los angeles times written by a hall of fame boxing writer named steve springer that talked about the corruptio between the wbc and don king. George foreman performance manager around the same time said about the sanctioning bodies in the los angeles times, "they have taken so much out of the sport. They need to be totally destroyed.
▶ 1:20:11Mr. Khan: We could turn this sport around and take it back from the dark ages." the crawford-cabello fight that's senator rosen referenced, that was for the four different super middleweight sanctioning body belts. Terence crawford won the fight by unanimous decision. The wbc then stripped him of that title for refusing to pay $300,000 fee for the honor of having the belt.
▶ 1:20:37Mr. Khan: Chairman cruz said earlier about the los angeles dodgers being the world series champions, it would be like if major league baseball went to the dodgers after they beat the blue jays and said, no. We will take this away for you because you did not pay us money. That is what it's akin to. They are terrible for the sport. They have ruined the sport.
▶ 1:21:02Mr. Khan: The last thing on canelo -crawford, wrestlemania, make-a-wish, wwe does a lot of work with make-a-wish. John cena has made more wishes happened in any other human being. They bought $2500 of tickets. The w bc for cabello-crawford, they hold themselves out as a nonprofit.
▶ 1:21:27Mr. Khan: They purchased 265 thousand dollars of tickets and insisted upon a suite fore. Is not just health and safety. We all want more health and safety. It's about presenting an option. Fighters want to fight for those belts. Please feel free. We are not saying get ridding them.
▶ 1:21:54Mr. Khan: Just provide this option for the ubo's which we think is great for the fighters.
▶ 1:21:58Sen. Moreno: I appreciate that very much. I went to the fight in las vegas. I will be the first to invite senator rosen to wrestlemania in cleveland in 2029 or 2030.
▶ 1:22:11Mr. De La Hoya: If I may add on the medicals, if the ubo's past, please to make the fighters pay for the medicals. Make the promoters pay for the medicals. That is the current system now and that is what is fair to the fighter. In regards to the sanctioning bodies, yes, there is a fee paid to the sanctioning bodies but the good they do with that money is incredible.
▶ 1:22:42Mr. De La Hoya: Fighters retirements, charities, all that money that the fighters are paying is going directly back to the sport, to their families for medicals. I would rather as a fighter pay that small percentage of money I make out of my huge purse instead of only making 15% of the profits and the big
▶ 1:23:12Mr. De La Hoya: Corporate companies making the majority of the profits. I am talking 85%, 80% of the profits. If I am going to pay a small fraction of those moneys to the organization that are doing so much good, I would rather do that.
▶ 1:23:29Chair Cruz: Thank you. I think the colombian bomber in the yellow shorts. You can tell why senator moreno was a successful car dealer. He is trying to close a deal here and now.
▶ 1:23:47Sen. Moreno: I heard him say yes. He just did not commit to which year.
▶ 1:23:50Chair Cruz: Do not buy the undercoat covering.
▶ 1:23:57Mr. Khan: Wwe it shows in 45 of the contiguous states in calendar year 2025. It is the same plan for boxing. Nevada is the fight capital but you have to also take it to cleveland and jacksonville and the south and texas. Notice texas is not considered part of the south. And to delaware and the other states so the fans can see it.
▶ 1:24:29Mr. Khan: It is why there are 32 nfl teams, some in smaller markets. So the fans can claim ownership over that team. It is the same principle in boxing that needs to be done.
▶ 1:24:39Chair Cruz: In terms of the ubo model, I have to say this issue reminds me of the last three years I and others on this committee spent time looking at college sports. I think college sports now faces a crisis. There's a need for congress to act. I hope we will get bipartisan remodeling.
▶ 1:25:02Chair Cruz: One issue under considerable discussion has been amending the sports broadcasting end to allow colleges to negotiate for football rights. They negotiate collectively, they extract higher revenues which would mean more money to go around to support the programs at schools across the country.
▶ 1:25:26Chair Cruz: In this context that seems a similar argument as the argument being put forward for ubo's that the appeal to a boxer of participating in it ubo -- in a ubo would be greater attention and notoriety but more money. That is the argument. Am I getting that right? How would you elaborate on that?
▶ 1:25:54Mr. Khan: You nailed it. If you bifurcate the sports professionally and collegially as everyone in this room knows, colorful is number two most popular sport in the united states, yet it generates the fifth most amount of media rights dollars. Just because it's a bifurcated system. The product is great. They used to say boxing is the most difficult because of the chaos. Now I say boxing and college sports.
▶ 1:26:22Mr. Khan: If college sports is not cleaned up, we are going to see the result of it being with many of you are you a already know. Programs will in any teams, which thereby affect title ix, which illuminates women's sports, which thereby affects less revenue generating olympic sports and instead of only boxing having had one olympic gold medalist since 1996, you will have many, if not all
▶ 1:26:54Mr. Khan: Olympic sports facing the same consequence. Yes, that act needs to be passed from my point of view having had the privilege in my prior career representing southeastern conference and many other entities like that. It needs to be passed for the health of the athlete and the sports.
▶ 1:27:10Chair Cruz: Let me ask Mr. de la hoya and Mr. walsh, you raise concerns as the bill is currently crafted, a ubo is created as an alternative but no fighter is required to enter a ubo and each can decide whether to stay with the current system or whether a ubo, if it is right that a ubo offers a bunch more money, I would think a fair number of fighters would choose
▶ 1:27:40Chair Cruz: To have more money. My question is, is at the right way to view that? If it is simply an option for the boxers and an option that could give them substantially more money for their families, how was that about thing?
▶ 1:27:57Mr. De La Hoya: If creating the ubo -- it is segregation basically. Fighters are going to want to stay in the current system and fighters are going to want to fight for tko or zufa. We will not see the very best fighting the very best.
▶ 1:28:21Mr. De La Hoya: I strongly believe that -- why is it that ufc fighters currently are complaining about pay? Why is it that the shareholders have to make most of the prophets? -- profits? The fighters are having to have second jobs in order to make a living?
▶ 1:28:51Mr. De La Hoya: I strongly believe that we keep the system the way it is, you have more competition. You will have the sanctioning bodies working together to unify the titles and create the undisputed world champion, therefore the sport grows.
▶ 1:29:17Chair Cruz: Mr. walls.
▶ 1:29:17Mr. Shipman: I totally agree with what Mr. de la hoya said. Creating the ubo will segregate the sport. You will not see the effects of what it will do now but five years down the line, 6, 7 years down the line, you will begin to see how the sport will become monopolized. People won't have a choice. Fighters will not have a choice anymore.
▶ 1:29:48Mr. Shipman: A course of contracts will be coming back. All the things in the current ali act that protects fighters will be taken away. You will see it down the line. It will not be an immediate change, but like Mr.
▶ 1:30:08Mr. Shipman: De la hoya said, the belts and when it comes to the sanctioning fees, understand it gets annoying having to pay x amount of dollars just to hold the belt. It's more than that. The money goes back to the fighters anyway.
▶ 1:30:25Chair Cruz: Mr. khan.
▶ 1:30:28Mr. Khan: Also back to suites to the president of the sanctioning body and ticket purchases and other things. I harken back to when we were younger. Everyone knew the heavyweight champion was muhammad ali and then joe frazier and then fast forward little bit, larry holmes and then mike tyson. If I said to most americans today who is the heavyweight champ, no one would know the answer to that question.
▶ 1:30:55Mr. Khan: That is because of the state of the sport and these different sanctioning bodies. In terms of competition, all we are asking for is an option for fighters. We are not saying to get rid of anything. If they like the current system, sign up. The sanctioning bodies and promoters. If you think we are a better option, sign up with us and see how that works out for you. Either we will succeed or fail. We are a startup, the outsider. Let's see what we can do.
▶ 1:31:24Chair Cruz: Mr. shipman, what is your reaction?
▶ 1:31:31Mr. Shipman: I concur. The fighters should have an option. We cannot predict what the future will hold. I have concerns the sanctioning bodies. He is correct. There's a lot of charges echo -- that are not needed that are charged to the fighters. By reducing those charges and making the change in it, the fighters will be able to save more money.
▶ 1:31:58Mr. Shipman: Also, without a prediction, I do think that from a ubo perspective there will be other organizations that may develop after this if it is approved. There's nothing like having a choice to decide who you want to work for, and I think it's good.
▶ 1:32:20Chair Cruz: Ranking member rosen.
▶ 1:32:21Sen. Rosen: I will ask a question about transparency. I think that's been a big issue and something we can certainly look at policy proposals for that. One of the critical pieces of the ali act was financial transactions and agreements between boxers and promoters and the sanctioning organizations. I will start with you, Mr. de la hoya.
▶ 1:32:48Sen. Rosen: What financial transparency is required between promoters and boxers and how does it impact the sport? Not transparent enough? You tell me what you think.
▶ 1:33:00Mr. De La Hoya: In the current state boxing is very transparent. I have promoted thousands of fights and we supply financials to fighters who were headlining their cards. We make sure if fighter makes the majority of the purses, of the funds.
▶ 1:33:27Mr. De La Hoya: If a ubo is formed, they will be no transparency. There is no need for transparency. The ubo will have to answer to shareholders. In this case, and the system we answer to the fighters directly. We take care of our fighters.
▶ 1:33:45Sen. Rosen: Thank you. Mr. walls, how did the financial transparency requirements impact your ability and the ability of the ability other professionals to negotiate their contracts? You are still fighting. How do you feel that transparency requirements help or hurt you?
▶ 1:34:06Mr. Walsh: I'm very happy with the transparency that exists in boxing today and that is due to the current act with the proposed revival act. That transparency would be gone. Fighters will no longer be able to see the full financials that are behind their event.
▶ 1:34:28Mr. Walsh: If fighters are having a problem currently today with any transparency, anything like that, that is on them and that is on their team and their management. Legally we are obligated now through the current act to see the financials. This proposed act is an act made for billionaires, not boxers. It will certainly give more money to shareholders, not the fighters.
▶ 1:34:59Sen. Rosen: Are provisions in current law that limit that your financial stability or ability to negotiate fair terms? Are there things now that are stopping you from doing that?
▶ 1:35:10Mr. Walsh: Now. .
▶ 1:35:13Sen. Rosen: Mr. khan, do you believe that there are provisions that limit their ability to negotiate fair terms in their contracts?
▶ 1:35:21Mr. Khan: We had tko -- it's a publicly traded company. . Media rights deals are public. I mentioned in the hallway earlier results of wrestlemania this past weekend, including the gate are public. There is nothing we can't make public unless we want to face government real ramifications with the sec and potentially doj. They are made available on a quarterly basis.
▶ 1:35:51Mr. Khan: The way our media rights deals work are different than how they were when muhammad ali act was passed. At that time the height of showtime and hbo boxing, hbo would pay a license fee of let's say $3 million to a promoter to put together a fight. That promoter within disclose that $3 million amount to the main event fighters and other sources of revenue.
▶ 1:36:13Mr. Khan: When you do a multi-event, multiyear deal with let's say netflix as wwe has done, the allocation of what money goes where for what event is completely different and almost impossible to say for this event we are going to give $3 million, but the other event we will give $500,000. It doesn't work.
▶ 1:36:38Mr. Khan: What does work are public disclosures made on a quarterly basis for which sitting on the board I'm responsible for as the president of w to president of w we. I would be responsible for complete operational controls with us so we are held accountable and that his note issue for us.
▶ 1:36:58Sen. Rosen: I have one last question about sponsorship for each one of our witnesses. Sponsorships are really important. We live in a world of media. That matters. Are there specific -- I will ask each of you.
▶ 1:37:16Sen. Rosen: Are there specific provisions such as ensuring the ability to secure sponsors outside of the ubo contract or prohibiting certain provisions in any contract that we could add to the revival act that would meaningfully support boxers in the ubo system? If you have opinions.
▶ 1:37:38Mr. De La Hoya: Allow me to touch on the disclosures. The only problem I have with Mr. khan's comments is there is no disclosure for the fighters. That is where the problem is and that is what we are here to fight for.
▶ 1:37:50Sen. Rosen: Meaning the amount they get paid? Just clarify.
▶ 1:37:54Mr. De La Hoya: The amount they get paid and the moneys that are generated in the event.
▶ 1:38:01Sen. Rosen: Thank you. Are there any provisions, any things -- we have the revival act coming from the house. Anything we could add to that as a think about as legislators that would support boxers in the ubo system as far as it comes to securing sponsors or prohibiting certain provisions? What would you think?
▶ 1:38:31Mr. De La Hoya: We do have current sponsors which, again, the majorities of the moneys go directly to the fighter. Whether it is ticket sales, revenue generated by tv platforms, pay-per-view and sponsorships. The fighter sees the majority of the money.
▶ 1:38:55Sen. Rosen: We could probably add something like that in the bill. Mr. shipman, would you like to address this at all?
▶ 1:39:05Mr. Shipman: Ma'am, the complication I see concerning doing the sponsorship from a regulatory standpoint, the commission's do not get involved concerning sponsorship. All that is done as a contract negotiated between the fighters, their managers. I can't speak intelligently upon that.
▶ 1:39:31Mr. Shipman: I think that is something that is out of our league from a regulatory standpoint. That is all they have a net.
▶ 1:39:39Sen. Rosen: Mr. walsh.
▶ 1:39:42Mr. Walsh: I don't know if you have seen the zufa boxing events but from my perspective it looks very plain. It looks very corporate.
▶ 1:39:56Mr. Walsh: Current boxing you have the freedom to have the sponsorships, unlike in zufa where you are forced to wear their trunks or forced to not have certain amount of sponsors or whatever their rules may be in their contract. But that is what makes boxing important to me.
▶ 1:40:21Mr. Walsh: As a fighter I know that having those sponsorships gives the fighters more money. It is only for the fighters. If the new revival act was truly for the fighters to put more money in the fighter's pockets, they are moving the same ufc model over to boxing. You can see it through their events already.
▶ 1:40:44Mr. Walsh: If that model were truly for the fighters, you would not see the 375 million dollar antitrust lawsuit that is going from the -- that the U.S. he had to settle. You would not see fighters complaining about pay. You would not see current ufc fighters begging for raises in their pay. If that model truly were for the fighters, you would not be hearing so much about money from the ufc fighters.
▶ 1:41:15Sen. Rosen: Mr. khan.
▶ 1:41:19Mr. Khan: Senator rosen, in terms of working together to try to get the same bipartisan support that we had in the house, of course. We want to hear any and all ideas that can work. In terms of sponsorship dollars, there was a comment made about the fighters would not see the revenue. With a publicly traded company, the whole world sees the revenue. It is disclosed to the public. The sponsorship dollars for ufc, wwe have been significant. The fighters participate in that .
▶ 1:41:49Mr. Khan: Chairman cruz was gracious enough to give part of my resume. As part of television ncaa, and representing leaks and broadcasters and talent, never did I meet someone who said I making too much money, don't tell anybody. Everyone wants more money and understand that. If we can generate more money, it means more money to the fighters.
▶ 1:42:15Mr. Khan: If given the opportunity for a ubo, assume the sponsorship in boxing as it currently stands is as horrific as the other elements of boxing. No major media conglomerate. No video games. No trading cards. Nothing. The sponsorship is as barren as that. If we do our jobs right as the start up and get sponsorship dollars in, the fighters participate. It is more money for them.
▶ 1:42:43Sen. Rosen: Thank you. I yield back.
▶ 1:42:46Chair Cruz: Thank you. I appreciate all of you coming before the monster energy senate commerce committee.
▶ 1:42:56Sen. Rosen: We are competing with a lot of hearings.
▶ 1:43:00Chair Cruz: I think it was a very productive. . This was helpful. As I mentioned in my opening, I'm going to be introducing the senate version of the ali revival act. I think there is a need for congress to act here and I think if there is the possibility to generate significantly more revenue for the sport, that will benefit in my judgment the boxers and everyone who participates. I think enhancing health and safety is a worthwhile endeavor.
▶ 1:43:30Chair Cruz: And I think the point that there is no doubt -- you think back to when we were kids and boxing enjoyed a much more prominent place in american culture and society. The champions of the world dominated the news and entertainment and a way that they don't today.
▶ 1:43:53Chair Cruz: I do think the dearth of olympic gold medals -- I wish we saw new oscar de la hoyas every four years. That would be good for america and good for boxing. But as I said, I fully expect in the senate version of the bill that the senate takes up will be different from what the house passed.
▶ 1:44:15Chair Cruz: I want to extend a personal invitation to each of the four of you and any other stakeholders, if you have suggestions for modifications that would improve the bill, I thing on both sides, democrat and republican, we are interested in hearing the suggestions. Mr. de la hoya, you had a suggestion about who pays for health care that I thought was a helpful suggestion. That's an open invitation. I hope you will go back and actually think about.
▶ 1:44:46Chair Cruz: My objective will be a win for the sport, the fighters, the fans and everyone involved. If we can achieve that, that will be good days work. Senators will have until the close of business on april 29 to submit questions for the record. The witnesses will have under the close of business on may 13 to respond to those questions. This concludes today's hearing. The committee stands adjourned.
▶ 1:45:16Chair Cruz: [bell ringing]