RAHMAN-KING DEAL DISMAYING.

Byline: MICHAEL ROSENTHAL Boxing

Hasim Rahman has spoiled the fun.

He emerged from his stunning knockout of Lennox Lewis last month as a thoroughly embraceable champ. He had a Rocky-like, long- shot-does-the-impossible story; he won the championship in the most dramatic way possible - with one big punch; and he seemed to be a decent chap.

And then he committed the most heinous of transgressions: He signed with promoter Don King.

OK, business is business. Rahman obviously figures he'll maximize his return with King. And he might be right if the deal survives court challenges and the slimy promoter doesn't cheat Rahman by some slight-of-hand thereafter. King reportedly has promised to deliver a package worth $75 million. That, on top of a television contract with either HBO or Showtime, would make Rahman rich beyond reason.

``He gave me the best deal,'' Rahman said simply.

However, somehow this just doesn't sit right. It's as if he's sold his soul to ... well, you know.

Rahman seemed to be on the verge of signing with HBO and following through on his commitment to give Lennox Lewis a rematch. That prospect - as well as talk of an immediate fight with Mike Tyson - had pumped life into a moribund division. Now, who knows what the future holds?

First, there are the lawsuits. Cedric Kushner (who contends he has a promotional contract with Rahman), Lewis and Tyson - and who knows who else? - will all have filed lawsuits before long to claim what they believe is their share of the heavyweight pot.

For now, let's assume King is successful in wresting Rahman from Kushner and the champ is allowed to face the opponents of his choice. Then King would like Rahman to fight Brian Nielsen of Denmark on the undercard of WBA champ John Ruiz vs. Evander Holyfield in August in China. The winners would then meet to unify the three major heavyweight titles.

That would mean Rahman went from potential fights with Lewis and Tyson in his first two defenses to yawn-inducing matchups with Nielsen and either Ruiz or Holyfield. So much for the momentum Rahman generated with his dramatic victory.

Rahman would fight Lewis and Tyson as part of his deal with King but probably not until he fights and beats the other two. And who knows if the higher-profile fights would ever happen; so much could happen in the meantime and so many obstacles would have to be overcome.

Again, from a business standpoint, that road might be the wisest. Rahman has a much better chance of beating Nielsen and the Ruiz-Holyfield winner than Lewis and/or Tyson. Thus, he would cash in on his enviable position with minimal risk.

It stinks from a boxing standpoint because we'd miss out on the most intriguing matchups while Rahman is building his fortune against pushovers.

We might get lucky.

Rahman holds the WBC and IBF titles. He must fight the WBC's No. 1 contender - currently Tyson - by November or be stripped of his title, assuming the sanctioning body sticks to its rules. The same goes for the IBF and its No. 1 contender, David Tua, who is due a title shot by April.

That could lead Rahman to a fight with Tyson before a bout with the Ruiz-Holyfield winner. However, don't count on it as long as King's involved. He promotes Rahman, and both Ruiz and Holyfield and would love to keep the heavyweight titles in the family.

And if the WBC strips him? As it stands now, No. 1 Tyson would face No. 2 Lewis, a long-awaited matchup that could push Rahman and whoever he fights to the background.

Of course, the possible scenarios are endless even after Rahman's decision to go with King. Again, two promoters, two television networks and a slew of potential opponents will fight to get a piece of Rahman and it might take a judge or two to sort the whole thing out.

For now, though, it looks like King's a winner. Rahman won't make out too badly financially no matter what happens, either. It's the rest of us who could suffer.

--What if? Felix Trinidad proved emphatically that he's a legitimate middleweight, pulverizing William Joppy on Saturday in New York. And, frankly, he'll probably have similar success against Bernard Hopkins in September, although it won't come as easily.

That leads him to a possible matchup with Roy Jones Jr. next year.

Conventional wisdom is that Jones has both the style - quickness, ability to move - and size to beat Trinidad if they meet at 168 pounds next year. The oddsmakers certainly will side with the light heavyweight champ.

However, don't count Trinidad out before he steps into the ring. He has maintained his unbelievable power as he's moved up in weight - ``I've never been hit like that before,'' Joppy said - and seems to get better with age.

One thing is certain: No matchup is more intriguing than Trinidad-Jones.

--One to watch: Michael Katz, the dean of boxing writers, joked that lightweight Francisco Bojado ``is the best fighter out of East L.A.'' He was poking fun at Oscar De La Hoya.

However, Katz might not be far off: Bojado (4-0, with four knockouts) might be the most talented.

Bojado, a Mexican Olympian who grew up in L.A., just turned 18. He has a long way to go to reach the level of a De La Hoya, but he's quickly winning over fans with his skills, power and poise both in and out of the ring.

Some have suggested that he is the most gifted of the 2000 Olympic class.

As with all young fighters, a significant question mark is his chin: How will he respond when a hard-hitting opponent lands a big punch? If he can take it, he could become a superstar.

--Rabbit punches: The handlers of Lance ``Mount'' Whitaker are having difficulty finding him an opponent and the money they believe he deserves after his impressive knockout of Oleg Maskaev.

They hope to get him a date no later than July.

Look for Whitaker in Sports Illustrated and on an ESPN television commercial soon. ...

Flamboyant Hector Camacho Jr. is scheduled to face ``Jesse'' James Leija on July 7 at Coney Island, N.Y., the first big fight there in 70 years.

The name of the promotion? ``Boxing's Biggest Hot Dog Comes to Coney Island.''

--Coming up: Jesus Salud faces Bobby Boy Velardez in a 10-round featherweight bout on Tuesday in Honolulu on ESPN2.

On Friday, Mickey Ward takes on Steve Quinonez in a 10-round welterweight bout in Ledyard, Conn., on ESPN2.

And, on Saturday, Charles Brewer fights Antwun Echols in a 12-round super middleweight bout in Uncasville, Conn., on Showtime.

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Photo:

(color) Sharif Rahman, 4, looks up at his father, heavyweight champ Hasim Rahman.

Will Waldron/Associated Press