Genuinely interested, in the purse someone like Degale might receive for this, and the point? If he's struggling for money, surely this isn't going to save him financially for the rest of his natural ? And he was really shopworn at retirement age, with lots of injuries, he can hardly have got better, can he? I liked Degale at his peak, properly tough, and talented fighter, (if a bit of a dick). Why are they all doing this?
Only 2 possible things really. Money and ego. In most cases I'd suggest it is just money. Many of these guys only have one life skill, punching people.
I truly hate when this happens to fighters, they risk their life in the ring only for an idiot outside of the ring to lose everything the worked for. You put your trust in family, thinking you are better off rather than with an outsider (accountant, lawyer etc) and you get done over anyway. Just like Hatton etc just to name one out of many.
Yup. Happens in most endeavours, not just boxing — family and business rarely mix well, unless you’re toxic enough yourself to bend it to your advantage. That’s exactly how Trump got started, manipulating his father’s legacy into his own hands. In DeGale’s case, they knocked the accountant too, so there was nothing left in physical assets in the company — the bank accounts were empty. His mother was most likely paying his tax liabilities a year behind, using his latest purse to cover the bill from the previous fight. That meant the whole setup was always running one purse behind. Once he retired after the Eubank fight and the fresh purses stopped coming in, the cycle collapsed. The tax on that last purse clearly never got paid, and HMRC just piles on charges and interest. The next update will show how much (if anything) the liquidators can claw back from the supposed £1.4m listed as “intercompany loans.” Bottom line: he was funding his whole family throughout his career, but once the well ran dry, everything caught up with him.