Vadym Bukhkalov – Vitaly Klitschko – «Divorce proceedings»

Founded in 2002 by Vadym Bukhkalov, famous Kiev businessman, the promoting company «National Box Promotion» was the leader of Ukrainian professional boxing for five years. The main goals of the project: development and popularization of boxing as well as creation of mechanisms for trade brands advertising at internal and external markets. The main directions of the company’s activity: organization of tournaments with participation of both famous experienced boxers and young promising sportsmen.

On November 22, 2007 «National Box Promotion» and Klitschko brothers combined their efforts and created a new promoting company – «K2 East Promotions». The main tasks were the following: organization of world level tournaments in Ukraine and at the territory of CIS, search and selection of talented boxers, drawing attention of the international community to boxing events, bringing up champions in all weight categories. The leading Ukrainian media holding, The Channel Inter Group, and the world-known brand Nemiroff are the regular partners of K2 in Ukraine. During last two years «К2 East Promotion» held 20 world level tournaments in Ukraine and one in the Chechen Republic. All the fights were broadcasted in Ukraine by Inter Channel, Megasport and Eurosport. Every tournament consisted of a great number of rating fights and one-two fights for prestigious title. A lot of fights were held abroad. One of the leading boxers of «K2 East» – Yury Nuzhnenko – won the title of по версии WBA в полусреднем весе, and became the first World Champion promoted by Ukrainian promoting company.
«K2 East Promotions» used the operation model, standard for those countries where professional boxing is a favorite kind of sport, has deep traditions and bring profit. Namely, there was a three-side mutually beneficial agreement between promoting company, television and general advertising partner. So, the promoter’s task was to organize the high-level boxing show providing TV ratings and being attractive for the advertiser. And the partners had to invest their money into tournaments organization. Thus, the initially investment and sponsorship project had started finally to work in the way it was supposed to be. The company became self-supporting and began to bring profit. No one promoter form former CIS countries could boast such a result. Everything seemed to be going well but at the bigining of February Vitaliy Klitschko decided to leave the project relinquishing his share in a company (according to mass media info, Klitschko had 51% of chartered capital). Vadym Bukhkalov, currently the sole owner of the company, agreed to comment on present situation for BOXNEWS.com.ua.

– You were one of the pioneers of Ukrainian professional boxing. Tell us, please, about the creation of «National Box Promotion» – predecessor of «K2 East Promotions».
– Ukrainian boxing admirers and sport journalists are long-familiar with me. Eight years ago on my initiative I had founded the promoting company «National Box Promotion» and started to develop this kind of business in our country. I had a well-defined goal: our boxers’ promotion to the world champion title fights and organization of TV broadcasting in Ukraine and abroad. We had been trying to build the system unfamiliar in our country before. It was risky and adventurous enterprise and there were some moments when I was ready to hang my hands, but finally decided to go on, because I had put into it not only my soul, efforts and time, but money as well. I have always had a special attitude towards this business – like towards lovely child. During 5-years period we had a lot of bumps, moments of failures and success. As a result, we had stored a great experience and built the effective working scheme: tournaments were held regularly and became better and better. We had established partnership relations with leading boxing organizations, other promoters, managers and boxers. The tournaments of «National Box Promotion» were broadcasted by Inter, «Eurosport», «1+1», «УТ-1», «STB», «Megasport». Our boxers had been gaining more experience, moving on rating scale and approaching to our primary goal. Zaur Baysangurov, Yury Nuzhnenko and Vyacheslav Uzelkov are Ukrainian boxing stars.

– Tell us, please, what was the precondition for merger with Klitschko brothers? What was the initial contribution of every part? What was the final benefit for both partners?
– In 2007 on Vitaly Klitschko initiative we decided to unite our efforts and that union was mutually beneficial. At that moment some «NBP» representatives had prestigious titles and were among top-15 of world ratings. Also we had already regulated the working mechanism for world level tournaments organization. It was my contribution into common project. Also it worth mentioning that Alexander Krassyuk’s appointment to the position of General Manager of K2 was one of my requirements, because at that time he had been taking the same position at NBP. Klitchsko brothers had introduced their personal high brand rating and powerful relationship. Due to this we had concluded three-part partnership agreement with Channel Inter Group and world brand «Nemiroff». This trio – promoter, media partner (TV) and general advertising partner – having no analog at any other post-soviet country, had ensured a “newborn” company such a blistering development. During two years we had won not only the great collection of titles but gained new boxing admires’ confidence. In spite of the crisis we had come close to our initial goal.

– You and Klitschko have decided to go different ways. When had such decision matured? What was the reason?
– The first talk about possible relations break appeared at the end of 2009 and at the beginning of February Vitaly informed me of his withdrawal. Concerning his motive, I think it would be more correct if he voices it himself. It was his individual decision. As far as I know, currently Vitaly is going to do promotion activity in Ukraine.

– How painful was relations break for you and for Klitschko?
– Such a process is painful in any case. Sometimes former partners part friends, keeping civilized, mutually respectful relations. But sometimes the “divorce proceedings” is accompanied with public claims, mutual recriminations and other “hysterics”. I prefer the first way and I am sure that Vitaly Klitschko will share my opinion. I treat him with great respect. He is not only a prominent sportsman, but talented businessman as well. Our cooperation had brought the company to a new level.

– How did you take Vitaly Klitschko’s decision? How his withdrawal will affect company’s activity?
– My first reaction was shock and, frankly speaking, upset. But having recovered from shock, I realized that nothing extreme had happened – titled boxers and funs’ support remained. Moreover, as compared to 2007, company’s position today is more advantageous. I am the owner of 100% share of capital. So, starting the negotiations process with potential partners now, the K2 position is much stronger than “National Box Promotion” had.

– Do you have any cooperation agreement with former partners – world brand «Nemiroff» and Inter?
– At present my company has no contractual obligations with «Nemiroff» or Inter. We concluded agreement with them at the beginning of every year. It worth mentioning that these giants were our reliable partners and had invested a lot in K2. So, firstly I’ve made an offer to them and we are waiting for their answer. If it is affirmative, I’ll be glad to continue our cooperation.

– What will be the new title of your promoting company?
– The company will change its title, but I don’t know yet how. Maybe we’ll take our initial title – «National Box Promotion» or at will of our partners, for example, «Nemiroff Promotion» or «Inter-Promotion». No «Bukhkalov Promotion» in any case (laughing). But I’ll be at the head of the company and control its activity. Alexander Krassyuk quitted his post of General Manager and will take the same post in Klitschko’s new promoting company. Of course, his decision was unpleasant surprise for me, but I am sure he’ll manage his new job well. He’s got all the necessary experience in «National Box Promotion» where he came in 2004 and received a perfect opportunity to learn and get necessary relations.

– Who of «K2 East» Promotions» boxers is going to stay with you and who with Klitschko brothers? How are you going to “divide” their contracts?
– De facto, «K2 East» had appeared in the result of «National Box Promotion» renaming, because neither team or boxers’ and managers’ staff had changed (except for some persons). Vitaly Klitschko left the Founders’ Board and presently I am the owner of 100% shares. Contracts between K2EP and its’ boxers are in effect, except for Alexander Ustinov who has exclusive contract with Klitschko and some young boxers – the beginners. Zaur Baysangurov, Yury Nuzhnenko, Vyacheslav Uzelkov, Sergey Fedchenko, Maxim Bursak, Valeriy Brazhnik and other titled boxers stayed with me. I have liability to them – contract and moral. Every boxer is like my child; we started this way together and I am responsible for them. Moreover, there are our fans that are impatiently waiting for their “idols’” wins and new champion belts. I have no right to disappoint them. Currently, we have about 10 boxers who are in top-15 of world ratings. These guys are ready to fight for the World Champion titles. And organization of these fights is my main task.

– What are the main development directions of your company? What are your resources?
– There are two directions we are going to move. The first one – organization of tournaments abroad: in the USA, Germany, UK, Mexico, Japan, etc. If there is a chance to have a fight with a star boxer, I am ready for co-promotion – joint show organization.
The second direction is organization of tournaments in Ukraine. To realize this idea we need our reliable partners: TV channel that will highlight our tournaments in Ukraine and any company having advertising budget and interest to invest into professional boxing. I am sure that we’ll have no problem with like-minded partner search. Presently, professional boxing in Ukraine is a high-quality and rating product and our fruitful cooperation with «Nemiroff» and Inter is the best confirmation of my words. As I’ve mentioned above, if our former partners take a decision to continue our cooperation, the priority will be given to them. The same situation with Klitschko brothers: if they give their consent to renew our cooperation – I am open for any offer. My main principle is that any partnership should be mutually beneficial.


By Dmytro Mykhalchuk