Carl Moretti, one of the most respected people in the boxing industry, is leaving promoter Main Events after 13-plus years to join friendly rival DiBella Entertainment as head of boxing operations.
Moretti, 46, served as vice president and chief matchmaker at New Jersey-based Main Events, where he was instrumental in developing numerous fighters, including Fernando Vargas, Arturo Gatti, Juan Diaz, Rocky Juarez and others.
"I think bringing in Carl is as important as any fighter signing I have ever made," promoter Lou DiBella told ESPN.com on Wednesday night.
Moretti joined Main Events after a 1986-93 tenure as assistant matchmaker for Madison Square Garden's now-defunct boxing department.
"It's the right decision for me and my family," Moretti told ESPN.com. "I love the people that are at Main Events. I always will. But this is simply a business decision. I am most appreciative of the offer Lou made me. It was an offer I couldn't turn down."
The move is another thunderbolt of bad news for Main Events, which had a miserable 2006, during which Vargas and Gatti both lost badly and have seen their days as significant fighters end. In addition, other fighters lost important bouts, including heavyweight Calvin Brock and prospects Joel "Love Child" Julio and Jason Litzau.
Still others, such as lightweight titlist Diaz, junior lightweight contender Juarez and heavyweight prospect Malik Scott, left the company.
Now Moretti, owner Kathy Duva's right-hand man, is also leaving.
Moretti, however, said the company's bad run had no impact on his decision to leave. He said he didn't want to be viewed as someone jumping from a sinking ship.
"It would be tremendously unfair for people to view the situation like that," Moretti said. "Main Events has been around for 29 years and will be around for 29 more, and then some."
Main Events was once one of the most powerful promotional companies in the sport, putting on some of the biggest fights the past three decades. Among the star fighters who fought under the Main Events banner: Lennox Lewis, Evander Holyfield, Michael Moorer, Pernell Whitaker and Meldrick Taylor.
Main Events' loss, of course, is DiBella's gain.
"Carl is one of the most respected and talented people in the boxing business and when you have the opportunity to bring someone like that on board you have to jump on it, particularly at a time when my company is in good shape and strong, and a lot of positive things are happening."
DiBella oversees the career of middleweight champion Jermain Taylor as well as several other fighters working their way on HBO-level cards, including Paulie Malignaggi, Sechew Powell, 2006 ESPN.com prospect of the year Andre Berto and others.
"Having Carl frees me to work on a new boxing venture or on the baseball team or a production project and to have somebody who's experienced at running the shop at the highest level," said DiBella, who also owns the minor league Connecticut Defenders baseball team. "I've always had a very good relationship with Main Events and with Kathy, and I anticipate we will work together again in the future. But this was a good time for an infusion of some new blood in my company."
DiBella had an opening for a top assistant with the unexpected resignation a couple of weeks ago of longtime assistant David Itskowitch.
"Dave was great and Dave was a tremendous part of DiBella Entertainment, but when he resigned I had to make a decision," said DiBella, who has been friends with Moretti for almost 20 years. "I knew I wasn't going to find someone with Dave's skill set so do I bring in someone of a lower tier or do I bring in someone at the highest tier, someone who is a true boxing guy? Moretti is going to be my right hand on the boxing side of things. He's a tremendous boxing guy with relationships, and he can generate deals.
"I thought, 'How can I make a positive out of someone so great like Dave leaving.' When you think about the list of people in boxing who are universally respected it's a very short list, but Carl is on it."
Dan Rafael is the boxing writer for ESPN.com.