Most sanctioning fees for world tite belts (WBC, WBO, WBA, and IBF) are typically $200,000- which equates to 10s of millions a year. A sanctioning body is not the promoter, who pays the fighter, pays for travel, medical (some of the time), promotion, venue, etc. Nor is a sanctioning body paying commisioners or anyone else actually involved in the fight itself, outside of its own organization. They simply provide a trinket and perceived prestige. But where is that money going and why does no one ever question it? This money doesn't go into the fighters pention (which doesnt exist). It doestnt go back into boxing. It goes into a few peoples pockets. So why is this allowed? Why are the fighters willing participants so much of the time? Its the name of the sanctioning body worth that much, or do people in boxing just lack reasonable curiosity and except this practice without thought?
Great thread Boxing is corrupt unfortunately What needs to happen is a tournament in every weight division which ends with an undisputed champ at every weight, all those belts need to then be destroyed and replaced with 1 undisputed championship belt and all the organisations have to sign contracts to make sure they never reconise different champs again or even better once all the belts have been amalgamated just destroy the orgs And sanctioning fees should be made illegal boxing used to get poor people out of the gutter Now boxing is for rich gay boys like David Haye
I'd agree that their P & L must look pretty great because I can't imagine their expenses are anywhere near their income. I guess fighters are willing to pay it because, as flawed as it is, it's about the only thing that makes boxing resemble a sport, and resembling a sport draws more fans which means bigger purses for fighters and more money for everyone else too.
Sanctioning fees are often 3% or so of the purse so unless you are making a 6.8 million dollar pay day which 99% of boxers never make it isn't 200k and even then they negotiate a flat fee that is much less than 3% for big purse fights.
Yeah...I wonder if this "average figure" has been dragged about by the super fights. 3% is the general going rate, some fights only make the orgs a few grand.
Its a huge racket, and quite obviously so. The people heavily involved with boxing are in on the racket (same goes for corrupt refs, judges, ect... you never wonder why the same obviously corrupt ref or judge continues to get gigs in big fights? Time and time and time again?) Boxing is a racket.... and that wont change any time soon.
That's like the US govt. Manny/Floyd made 500 million. What did the US govt do to get millions in tax money?
reorganize boxing. there was a bill proposed by reed and mccain to temporarily federalize boxing. best solution so far that i've heard.
:yep And I could be mistaken, but I am fairly certain these things entail more than the sanctioning fees for a given championship fight. I believe there are also monthly fees to maintain your place in their ranking systems (should you be ranked inside the top 10, or perhaps even top 20?).
That's different. The US government robs far more money from everyone, not just those involved in boxing, and they don't do jack to earn any of it. The power entrusted to 530-something elected morons is nothing short of frightening. :smoke
fighters are not the smartest breed of sportsman are they , they have been used and abused for hundreds of years and it will go on forever , its only the select few that get the really big money , the average fighter does not live a lot better than anyone else in a normal job .
Hence the term "cab driver". There are a lot of top level fighters who don't make much money as well. For example Mickey Bey and N'Dam/Lemieux will make less than $50k with their next fights.