Boxing promoter, Barry Hearn, told the High Court yesterday that former world champion, Steve Collins, was "almost valueless" when he took him on in 1993.
Mr Hearn said it was a "shattering experience" when Mr Collins told him he was no longer his manager and that he was in discussions with a rival promoter, Frank Warren.
When Mr Collins came to him in 1993 to discuss his career he was disillusioned with boxing after losing a number of fights. Because he had lost three fights, Mr Collins was "almost valueless", said Mr Hearn.
Mr Hearn and his company, Matchroom Boxing Ltd, Essex, are suing Mr Collins, Navan Road, Dublin, for alleged breach of a management agreement. The claim is denied.
The Hearn side claims that unknown to them, Mr Collins had signed an agreement with Mr Warren after his win against Chris Eubank at Millstreet, Co Cork, in March 1995, when Mr Collins became WBO super-middleweight champion. He already held the WBO middleweight title.
It is claimed Mr Hearn's oneyear contract with Mr Collins was extended for a further year from May 1995 and that Mr Hearn is entitled to 25 per cent of the monies paid to Mr Collins for three fights during that period.
In those three fights, it is submitted, Mr Collins's purse for a return fight with Mr Eubank, in September 1995, was £1.2 million and that he received another £1 million for two subsequent fights. Mr Collins denies the one-year contract was extended.
In court yesterday, Mr Hearn told Mr Justice O'Sullivan that when Mr Collins came to him in 1993, he was manager of Mr Eubank, Nigel Benn and others. He liked Mr Collins and felt a bit sorry for him. He told him he should have a number of fights against fairly poor opposition to rebuild his career, get into the WBO rankings and have a shot at a world title.
"The Irish love a fighter," said Mr Hearn. "If they get behind you it's a promoter's dream because they sell tickets."
In 1994, Mr Collins had been the number-one contender for Chris Pyatt's middleweight crown, he said. Mr Collins fought Mr Pyatt for the middleweight title in Sheffield. Mr Collins was a giant on the night. He had "drained" himself to make the 11 st 6 lb limit and for that fight it was agreed he would get a purse of £50,000.
Mr Hearn said he received £13,500 as his 25 per cent of Mr Collins's purse for the Pyatt fight. That was the only commission he had ever received from any of Mr Collins's fights.
When Ray Close withdrew, on medical grounds, as an opponent to Mr Eubank, "the heaven opened and the sun shone because all of a sudden there was this wonderful opportunity", Mr Hearn continued. Mr Collins was desperate to fight and Mr Eubank was desperate for a credible opponent. Sky TV was happy to do a presentation from Ireland and Mr Eubank was happy to fight in Ireland. He said he agreed to waive the 25 per cent management commission on the fight.
Mr Hearn said Matchroom Boxing lost around £27,000 on the Collins/Eubank fight in Millstreet. Afterwards, Mr Collins had said to him: "Now you will have to pay me £1 million per fight. You won't mind because you will get your commission."
The hearing resumes next Tuesday.