World Library  
Flag as Inappropriate
Email this Article

International Boxing Club of New York

Article Id: WHEBN0005919913
Reproduction Date:

Title: International Boxing Club of New York  
Author: World Heritage Encyclopedia
Language: English
Subject: James D. Norris, Professional boxing organisations, 1949 establishments in New York, Cus D'Amato, IBC
Collection:
Publisher: World Heritage Encyclopedia
Publication
Date:
 

International Boxing Club of New York

The International Boxing Club of New York was a corporation formed by James D. Norris and Arthur M. Wirtz in 1949 to promote boxing bouts at Madison Square Garden, Polo Grounds, Yankee Stadium, St. Nicholas Arena, Chicago Stadium and Detroit Olympia.

Contents

  • Monopoly 1
  • Ties to Mafia 2
  • See also 3
  • References 4

Monopoly

Control of Madison Square Garden

In 1949 Madison Square Garden paid Mike Jacobs of Twentieth Century Boxing Club $100,000 to relinquish his rights to promote fights at the Garden. Jacobs had become ill as a result of a stroke and the Garden wanted to turn over promotion to the IBC. The IBC had obtained the contracts of four contenders from Joe Louis for $150,000 on his retirement, and wanted to promote the fights in the Garden.

The IBC developed a stranglehold on championship boxing, promoting 47 out of 51 championship bouts in the United States from 1949 to 1955. Its major revenues were acquired through television of twice-weekly boxing bouts from the Garden.

Legal Troubles

Norris and Wirtz formed the International Boxing Club of Illinois to discourage the perception that the IBC monopolized boxing. Norris resigned as president of IBC of New York in favor of Truman Gibson and the IBC was bought by the Garden and operated as a wholly owned subsidiary. But Judge Sylvester Ryan of the U.S. District Court decided the IBC of New York was a monopoly and ordered its dissolution. Norris and Wirtz were given five years to divest themselves of their holdings (approximately 40%) in the Garden. Ryan also declared the IBC of Illinois a monopoly and ordered its dissolution as well. The decisions were appealed but confirmed on January 12, 1959 by the U.S. Supreme Court.[1]

In a surprise move, on January 30, 1959 Norris and Wirtz announced they were selling their interest in the Garden to Graham-Paige Corporation, a New York investment company. The sale became official on February 19, 1959.

Ties to Mafia

In 1960, the Senate Subcommittee on Antitrust and Monopoly chaired by Senator Mafioso Frankie Carbo, a soldier in New York's Lucchese Family who had been a gunman with Murder, Inc. At the time of the hearings, Carbo was imprisoned on Riker's Island, having been convicted of the undercover management of prizefighters and unlicensed matchmaking. The hearings revealed that Carbo's wife was employed by the IBC at a salary of $45,000 a year.

The following year, Gibson Jr. and Carbo, Carbo's partner Frank "Blinky" Palermo (a member of the St. Louis crime family, and Los Angeles mobsters Joe Di Sica and Louis Dragna, were charged with conspiracy and extortion against National Boxing Association Welterweight Champion Don Jordan. After a three-month trial, in which U.S. Attorney General Robert Kennedy served as prosecutor, the defendants were convicted and sent to federal prison.[1]

See also

References

  1. ^ A Report on Chicago crime. Chicago Crime Commission (1961) pg.67
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.
 


Copyright © World Library Foundation. All rights reserved. eBooks from Project Gutenberg are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.