I am a boxing manager: if you have questions about the boxing biz, ask!

[dempsey1234]

Originally Posted by ezzard_charles

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.

[dempsey1234]

I believe you can google this article 'Manny Pacquiao: 'Where the Money Is Going, By Thomas Hauser' ck it out, you might be surprised.

[ezzard_charles]

I often see some fighers having co-managers, what is the purpose/role/responsibilities of the co-managers, and how do they differ from a managers who manages a fighter by himself. What are the advantages/disadvantages of having co-managers? Do you think they are necessary or would you advise against them? Also what percentages do they normally recieve?

[dempsey1234]

Originally Posted by ezzard_charles

I often see some fighers having co-managers, what is the purpose/role/responsibilities of the co-managers, and how do they differ from a managers who manages a fighter by himself. What are the advantages/disadvantages of having co-managers? Do you think they are necessary or would you advise against them? Also what percentages do they normally recieve?

Ok no matter how many managers or co managers a fighter may have they are legally bound to take only 33 1/3%. The reason you might have a co-manager is he might be the money guy, a guy who helps the fighter financially in someway. Maybe a fighters manager needs some expertise he might bring in someone with experience and the most important the connections to get the job done.
The disadvantage is when the manager and co-manager disagree on which direction to take, the training, or the trainer. Ego's set in big time and then it becomes desruptive to the fighters career.
Are they necessary it depends would I advise against them, set somekind of understanding about how things will work moving forward. On the % let the managers work that out they can only take 33 1/3% between them. The fighter should be part of the discussions or at least know whats going on.

[Thracian]

What about salary matching periods, and contracts that indefinitely renew with promoters? Do those exist in boxing?

[StillWill]

33 1/3 always seemed a bit steep to me. Im the one in there taking the punches, after all.

Pretty sure managers get like 10% in other sports

[dempsey1234]

Originally Posted by StillWill

33 1/3 always seemed a bit steep to me. Im the one in there taking the punches, after all.

Pretty sure managers get like 10% in other sports

Sadly you are right the 33 1/3 is the max allowed by law, a fighter may negotiate the percentage but sadly the fighter either doesnt know that it is negotiatable or is so happy that someone is paying attention he doesn't care.
I believe 10% is fair.

[dempsey1234]

Originally Posted by Thracian

What about salary matching periods, and contracts that indefinitely renew with promoters? Do those exist in boxing?

Yes they do, but if a fighter just does his homework he should be alright, I hate to say it but thats why you bring in a manager. Whoever gives you advice consider the source, does he have history, experience? Watching the fights and knowing the fighters doesnt make a manager, being a father who raised you from a peanut doesnt mean he has the experience. So be wise as to who you put in front of you.
You know upfront how long the contract will be, plus the extensions. Dont think those extensions are cheap, the promoter has to meet certain criteria, otherwise you gone.

[dempsey1234]

Originally Posted by Thracian

What about salary matching periods, and contracts that indefinitely renew with promoters? Do those exist in boxing?

Yes they do, but if a fighter just does his homework he should be alright, I hate to say it but thats why you bring in a manager. Whoever gives you advice consider the source, does he have history, experience? Watching the fights and knowing the fighters doesnt make a manager, being a father who raised you from a peanut doesnt mean he has the experience. So be wise as to who you put in front of you.
You know upfront how long the contract will be, plus the extensions. Dont think those extensions are cheap, the promoter has to meet certain criteria, otherwise you gone.

[Thracian]

In MMA, its said that champions (of organizations, there are no world titles in MMA) have a clause where their contracts extend INDEFINITELY with no additional compensation.

[dempsey1234]

Originally Posted by Thracian

In MMA, its said that champions (of organizations, there are no world titles in MMA) have a clause where their contracts extend INDEFINITELY with no additional compensation.

I dont know much about MMA, but what usually happens is that the fighter/MMA is just so happy to be at the dance that dont read the contract and if they do they are made to feel that they might be labeled as problematic and blackballed, or they are afraid that if they question anything they might lose that opportunity. Check with your state commission or local boxing board, ask questions you are within your rights.

[Fighting Fungus]

If you could manage one fighter in boxing now who would it be?

[Jdsm]

Sorry if it's already been asked, but who do you consider the best US promoter to deal with? Taking in to account fighter pay, paying on time etc.

[dempsey1234]

Originally Posted by Fighting Fungus

If you could manage one fighter in boxing now who would it be?

I really dont have an answer, I like taking a guy from scratch(Pro Debut) and see how far I can take them.
I am very selective so when I do find somebody he is my project, and in that I am single-minded.

[dempsey1234]

Originally Posted by Jdsm

Sorry if it's already been asked, but who do you consider the best US promoter to deal with? Taking in to account fighter pay, paying on time etc.

The best US promoter for me to deal with, pay-wise, paying on time, is without a doubt Top Rank. The thing a fighter should look at is does the promoter do shows on a regular basis, do they have TV, can the promoter deliver on the promises they make?
There are only two that have all the power, and thats Gboy and Top Rank.

-Top Rank gives you the time to develop, Gboy has a policy of sink or swim with their fighters.
-Top Rank has built from scratch some of the biggest names in boxing, including Oscar, Floyd, Cotto, Pavlik.
-Top Rank has two HOF's on staff, Arum and Bruce Trampler, who have worked with a who's, who of boxing for the 30+yrs, Ali, Foreman,Duran, Leonard, Hearns, Benitez, Hagler, Benitez, so the edge in experience and knowing how to work the talent is hands down with Top Rank.
-Pay from what I have experienced and hearing from others Top Rank pays better than anybody.