reviewjournal.com -- Sports: Bowe drops suit against Newman

Former heavyweight champion Riddick Bowe has dropped his $55 million lawsuit against former manager Rock Newman and Newman's promotional company, Spencer Promotions, and also issued a public apology to Newman.

"I was lied to and misled by a former adviser into thinking that you had stolen money from me," Bowe wrote in a letter to Newman. "You have now provided every detail about how my finances were handled. I understand now that I was wrong to claim you took money from me and that it was unfair of me to bring the action against you. ...

"I hope you will accept my apology for any difficulties these false claims have caused you."

Newman, who lived in Washington when he managed Bowe but now lives in Las Vegas, said he was happy Bowe dropped the suit.

"I never concerned myself with people calling me a boxing outsider or a maverick or controversial," Newman said. "That stuff never bothered me.

"What mattered to me was the integrity of how I conducted my business. When Bowe made those statements, that created doubts. What this withdrawal of the baseless allegations in addition to the unequivocal apology does is it vindicates me from those accusations."

Bowe, expected to be released from prison next month after serving time for abducting his former wife and children, was with Newman from the time he turned pro until his career ended after two fights with Andrew Golota in 1996.