STAR BOXING FORCED TO CANCEL 10-14-2016 DATE @ THE PARAMOUNT DUE TO NEW NY STATE INSURANCE REQUIREM

White Plains, New York- Due to the unfortunate legislation and its new insurance requirements which have crippled boxing in New York State, Joe DeGuardia, CEO of Star Boxing, has cancelled the scheduled October 14th "Rockin Fights" event at The Paramount in Huntington, NY.

New York State enacted a new law that legalized MMA in the State, but, in doing so, changed various rules relating to Boxing, most poignantly, the insurance requirements for boxing.

New York's top 4 prolific boxing promoters, Joe DeGuardia, Bob Arum of Top Rank, Eric Gomez of Golden Boy Promotions, and Lou DiBella of DiBella Entertainment, along with the rest of the boxing world, are disheartened and disappointed that the new rules have caused boxing to cease in New York.

The new rules require $1 Million in Traumatic Brain Injury coverage for each fighter who competes in an event (typically 12-14 boxers on each card). While many have said the cost will destroy boxing in New York due to the costs, it goes beyond that. Currently there isn't any insurance policy approved by the State. Therefore, the cost is currently irrelevant as there is no legal way to hold a professional boxing match in New York as the insurance required by the new regulation cannot be purchased at the present time.

Star Boxing plans to move its events to venues outside of the State of New York until when and if this situation is corrected. Star Boxing has a December 3rd date tentative at The Paramount depending on the ongoing insurance issue.

The State of New York has always had a rich Boxing history, but, for the first time in memory, there will be no professional Boxing in the months of September, October, and, seemingly, November. This not only affects the boxers, their families and promoters, but the countless number of people who benefit from the staging of these events including venues, restaurants, hotels, transportation services, and local merchants where the fight would normally take place.

This is the first time in the 20 plus year history of Star Boxing that an event has been postponed due to this kind of issue. DeGuardia was hopeful that some sort of resolution would be in place since the requirement was put into effect on September 1, 2016, but that has failed to happen.

DeGuardia said: "I am truly disappointed in having to postpone one of our regularly scheduled cards at The Paramount, where we worked very hard over the last few years to make it one of the outstanding fight venues in the country. More importantly, it is ridiculous that our elected officials have not corrected this absurdity. It is a travesty that deprives New York boxers, as well as managers, trainers and promoters, and venue employees of their livelihoods."

"While it is disguised as a safety measure, it does nothing to improve the health and safety of the boxers," added DeGuardia. "In fact, it may create the opposite effect, forcing boxers to move to other jurisdictions with fewer protections, particularly in substantial health and safety matters that New York has had in place for many years."

DeGuardia is disappointed but is hopeful that the matter will be resolved so that all the interested parties and the numerous loyal boxing fans in New York and the world will not be continuously denied access to the sport of boxing in New York.

Top Rank's Bob Arum noted: "Boxing is in a crisis position in the state of New York and we must find a way to resolve the insurance issue before we can go back to presenting boxing events to the fans of New York."

Golden Boy Promotions President Eric Gomez said: "It's a huge concern, I hope it changes. It affects everybody and it's something that's troublesome...we're going to have to really think about doing shows in New York because, the way it stands right now, we can't do any show as there is no insurance approved. This must be adjusted"

DiBella asserted: "The state of boxing in New York State must change. I have been extremely active promoting shows in New York but at this time I have moved all of my shows to other States for the foreseeable future. I couldn't do a show in New York if I wanted to, as NO insurance required by the new law and regulations currently exists."

The aforementioned top boxing promoters stand together along with the rest of the boxing world, its fans, and all others associated with the sport and industry, in requesting New York State to remedy the impact of this damaging legislation.

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