Need help to understand: "Purse bid"

Pongsaklek Wonjongkam

 

Damn you!

 

it's the money that is to be used for the purses of both fighters. If arum wants to shed 1mill dollars for a valero-marquez fight, he might as well believes that this fight is worth 1 million. (the split percentage will need to be negotiated).

Let's say GBP counteroffers 1.5mil, it's like saying "hey, we think this is fight is worth more, and we're willing to provide 1.5mill for the purses, that puts us in the driver seat"

ofcourse if GBP is wrong, that the fight (or the two fighters specifically) is not worth 1.5mill, they will lose money ofcourse. If they are right, they get more money because of the promotional rights they got.

so in a sense, it's a balance of trying to get the promotional right by giving the highest offer, but not overestimating to avoid business loses.


i'm not so sure about this though, this ain't my field

 

if i´m correct everybody can make a bid... The one with the highest bid have to promote the fight.. 35 % goes to the challenger, 65% to the champion..

 

When promoters can't reach a deal for a mandatory fight (champ vs. mandatory, no1 vs. no2 etc), it goes to a purse bid. The bidders bid in the ABC office with a closed envelope contaning the purse offer, whoever bids the most can make the fight, when and where inside a certain time frame. The money splits into predetermined %s for the champ and challenger (I don't know the no1 vs. no2 %s) and in the end, the organization cuts it's share (sanctioning fee) off the purse offer.

Wasilewski didn't want Wlodarczyk-Fragomeni II in Italy so he had to bid the highest and now can decide of the where (Lodz, Poland) and when (May 15), following the rules of the WBC about the split.

 

this is the correct answer. each organization has their own formula for how the money is split.

 

Who was it that won a purse bid for a big fight 3 or 4 weeks ago but forgot to pay the 10% deposit in cleared funds