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Old 01-02-2012, 07:09 AM   #1
nfc90210
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Default Financial Details Of Overeem's UFC Contract

More evidence that while the top UFC guys aren't making Mayweather money it's not like they are being paid slave wages either.

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Lawsuit Filed Against Overeem Reveals Financial Details of His UFC Contract

December 30th, 2011


By [Only registered and activated users can see links. ]

If Alistair Overeem isn’t already a wealthy man, he’s going to be after he gets done fighting for the UFC.


Well, that’s if lawsuits and legal fees don’t eat away at all the money he stands to make fighting for the sport’s top organization. The financial details of Overeem’s UFC contract were revealed today in a lawsuit his former management KOI/Golden Glory filed against Overeem in Clark County, Nevada this week claiming that they are entitled to 30% of his earnings.

[Only registered and activated users can see links. ] detailing his contract.


Quote:
In the complaint filed against Overeem and Lam Thursday, KOI alleges that “subsequent to the execution of the UFC contracts, Overeem made numerous public statements that KOI/GG breached its fiduciary to him and that there was ‘mistrust.’ Overeem claimed that Zuffa’s CEO, Lorenzo Fertitta told him in no uncertain terms that: there is a one million dollar ‘signing bonus;’ that the one million dollar signing bonus was Overeem’s money and that KOI/GG was ‘ripping him off’ and ‘stealing from him.’”



Pursuant to the terms of Overeem’s UFC contract as outlined in the complaint, he is guaranteed a “bout fee” of $264,285 on Dec. 30. Should he defeat Lesnar, Overeem would receive an additional $121,428 “win bonus.” Overeem is also in line to receive a $2 pay-per-view bonus per viewer, “for all revenues received by UFC-Zuffa for telecast of the Lesnar fight in the United States, Canada or over the internet in excess of $500,000.”

Terms of the contract also guarantee Zuffa would pay Overeem $1 million spread out evenly over the first three fights of his deal, which is potentially good for up to eight bouts. Overeem is also expected to receive intellectual property payments for worldwide marketing of his likeness or image.
Not that you need me to spell it out for you, but that’s BIG money folks.

Here’s KOI/GG’s lead counsel, Roderick J. Lindblom, explaining why they filed the lawsuit.


Quote:
“The suit was filed for a very simple reason,” Roderick J.Lindblom, legal counsel for KOI and Golden Glory, told ESPN.com. “Alistair Overeem has been part of Golden Glory for 11 years. Knockout Investment has a management contract with him. The management agreement was from 2007 until 2012. They negotiated one of the largest MMA agreements in the history of the sport for him. And within days he accused them of some pretty shady stuff that is not true. And he has walked away from his contract.”
It’s unclear how all of this is going to shake out, especially with the lawsuit Overeem filed against them last month, however [Only registered and activated users can see links. ] to hold Overeem’s UFC 141 purse in escrow until they get this mess sorted out.

Despite all the legal drama, Overeem’s representative Collin Lam maintains that Alistair remains 100% focused on Brock Lesnar.

On a side note, [Only registered and activated users can see links. ] tonight plus whatever he makes in pay-per-view bonuses.
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Old 01-02-2012, 08:51 AM   #2
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Default Re: Financial Details Of Overeem's UFC Contract

This is nothing new. The top draws get a signing bonus AND they get a cut of the PPV which works out very lucrative. Couture, Liddell, Ortiz etc all got over a million when they put their basic with their PPV cut. This doesn't including fight night bonuses or sponsorship money or signing bonuses.

The guys at the bottom of the UFC/MMA are the guys struggling but then so are most athletes in boxing, football etc The guys at the bottom of boxing and football have part time jobs.

The UFC business model is sustainable and thrives on good competition and winners. It will also see things like medical insurance where boxers may squander their money. I'm also hoping that soon the UFC will introduce retirement funds. For example if a fighter fights 10 times or more then their is a fund waiting for them. An even bigger fund for guys like Ortiz etc Something just to safeguard any chance of fighters ending up int he slums.
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Old 01-02-2012, 12:46 PM   #3
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Default Re: Financial Details Of Overeem's UFC Contract

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Originally Posted by achillesthegreat View Post
This is nothing new. The top draws get a signing bonus AND they get a cut of the PPV which works out very lucrative. Couture, Liddell, Ortiz etc all got over a million when they put their basic with their PPV cut. This doesn't including fight night bonuses or sponsorship money or signing bonuses.

The guys at the bottom of the UFC/MMA are the guys struggling but then so are most athletes in boxing, football etc The guys at the bottom of boxing and football have part time jobs.

The UFC business model is sustainable and thrives on good competition and winners. It will also see things like medical insurance where boxers may squander their money. I'm also hoping that soon the UFC will introduce retirement funds. For example if a fighter fights 10 times or more then their is a fund waiting for them. An even bigger fund for guys like Ortiz etc Something just to safeguard any chance of fighters ending up int he slums.

To add to that last part the UFC should put these funds into an annuity or something similar. That does two things, (1) is it prevents the fighter from spending it before retirement and (2) it's creditor proof.

This is why OJ Simpson still gets monthly cheques even in jail and even though he lost a lawsuit for millions of dollars.
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Old 01-07-2012, 03:16 AM   #4
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Default Re: Financial Details Of Overeem's UFC Contract

So in effect, you all are saying that DANA WHITE takes good care of his fighters in the UFC? If so, then for all the shit he gets, the man should get at least some credit wherever it's due.
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Old 01-07-2012, 06:51 AM   #5
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Default Re: Financial Details Of Overeem's UFC Contract

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Originally Posted by Vanboxingfan View Post
To add to that last part the UFC should put these funds into an annuity or something similar. That does two things, (1) is it prevents the fighter from spending it before retirement and (2) it's creditor proof.

This is why OJ Simpson still gets monthly cheques even in jail and even though he lost a lawsuit for millions of dollars.
It would be great if the UFC put 5% on top of a salary into a fund if you've had 5 fights then 10% and maybe more. Let it mature until a fighter is say 50 and they've hit the age of no possible return.
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Old 01-07-2012, 06:52 AM   #6
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Default Re: Financial Details Of Overeem's UFC Contract

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Originally Posted by twopiece View Post
So in effect, you all are saying that DANA WHITE takes good care of his fighters in the UFC? If so, then for all the shit he gets, the man should get at least some credit wherever it's due.
If Zuffa did what MMA fans want then MMA would turn into boxing and become a complete joke. Fighters would stop fighting because of the easy millions, fighters would stop fighting hard because there would be no bonuses etc
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Old 01-07-2012, 09:57 AM   #7
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Default Re: Financial Details Of Overeem's UFC Contract

At least boxing is more global with champions coming out from all corners and from all promotions and all countries, unlike the UFC. The UFC is a joke with a joke of a pay. Overeem got around $1 million all up for his fight which is pathetic.
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Old 01-07-2012, 11:24 AM   #8
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Default Re: Financial Details Of Overeem's UFC Contract

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Originally Posted by monaroCountry View Post
At least boxing is more global with champions coming out from all corners and from all promotions and all countries, unlike the UFC. The UFC is a joke with a joke of a pay. Overeem got around $1 million all up for his fight which is pathetic.
There is a fight system in the UFC and even in MMA in general. Boxing is a mess, it really is.

In boxing, everyone hurts their own credibility and product, which isn't the case in MMA.
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