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Old 01-11-2013, 11:46 PM   #121
dempsey1234
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Default Re: I am a boxing manager: if you have questions about the boxing biz, ask!

Quote:
Originally Posted by ezzard_charles View Post
Do you know of any situations where the manager and trainer get paid on the net purse (after taxes)? Or do they always get paid on the net purse?
The trainer gets his pay off the top or gross pay, the manager depending on what deal the fighter and manager make. If the manager takes the industry standard of 33 1/3 then he takes it after all expenses are paid which doesn't include taxes.
Lets say purse is $100, the trainer gets 10% off the top or $10.00, the manager if he is getting 33 1/3% gets about $30. the fighter gets $60, the fighter pays taxes on the $60, not the original purse of $100.(gross purse). The bout contract allows the fighter to take the managers and trainers cut from the purse. Make sure you keep your copy of the contract, that shows the deductions were made, this is your protection. If the fighter says he wants the full purse, he then is responsible for paying the full purse amount and he has to send out a 1099 form for each person the fighter paid, the manager, the trainer at tax time. It's best to get the deductions taken out.
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