MGM CEO Hints That Company May Sever Ties With Top Rank After Arum's Criticism
MGM Resorts Int'l Chair & CEO Jim Murren is "strongly hinting that his company’s turbulent relationship" with Top Rank Chair Bob Arum "might be over," according to Norm Clarke of the LAS VEGAS REVIEW-JOURNAL. In a newsletter sent to 62,000 company employees on Wednesday, Murren "addressed the 83-year-old promoter’s epic tirade against the MGM Grand without mentioning Arum by name." The newsletter said that "bullying will not be tolerated." It also stated, "Your company will not associate with abusive individuals." Clarke notes Arum "lashed out last week," days before his Manny Pacquiao-Timothy Bradley fight at the MGM Grand, after "seeing signage at the hotel promoting the May 3 fight between Floyd Mayweather and Marcos Maidana." Arum "ridiculed" MGM Resorts Entertainment & Sports President & COO Richard Sturm, then "delivered a low blow" to the company. Arum said the Venetian "wouldn't make a mistake like that." He added, "But that's why one company makes a billion dollars a quarter and the other is hustling to pay its debt” (LAS VEGAS REVIEW-JOURNAL, 4/18).