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Old 01-24-2014, 02:34 PM   #559
dempsey1234
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Default Re: I am a boxing manager: if you have questions about the boxing biz, ask!

Usually a purse bid situation occurs when the parties can't agree on terms or purse. Let's say one of the ratings organizations orders "Champ A" to defend against his mandatory or in the case of an eliminator number 1 and 2 fight to decide who is the next challenger or for a vacant title. The organization gives the parties a negotiating period, about 30 days, If the parties can't agree on purse or terms then a purse bid situation arises. Sometimes used as a tactic to get a shot or a title. If champ "A" still says no, the threat of a purse bid arises where the title could be vacated or the terms might be unfavorable, so champ "A" has to decide to take it or give up the crown. Now in the case of a purse bid any registered promoter can bid for the fight. To register for a purse bid the promoter has to pay a registration fee about $20,000. If your next door neighbor came up with the registration fee he would be allowed to bid on the fight. Now comes the fun if champ "A" agrees to the purse bid the split is 65-35% of the deal. The promoters make their bid's based on what they think of the fight. Champ "A", then has maybe 2wks to accept or vacate his title. The purse bid can be over the location or what promoter promotes the show. The wonderful wacky world of purse bids, yes sir.
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