Boxers going Broke

Nate Campbell's bankrupt? Thats crazy, I thought he got paid for the Guzman fight since he showed up and was ready to fight?

 

Even thought they make alot of money they spend more than they have. Alot of people do this, and when the money is gone they get into deep trouble.

 

Boxing history is replete with boxers mismanaging their money. Some give it away, some spend lavishly and sometimes it's stolen and mismanaged by promoters. At the time, the money seems endless but if you are spending it faster than what you are making it their will be problems. Joe Louis owed the IRS MILLIONS of dollars because his money was mismanaged and no taxes were paid on his income. Leon Spinks spend his money lavishly, on cars, drugs and just having a good time, SRR, Iran Barkley, Joe Frazier, Bruce Seldon, the list goes on...only a few make sound investments that carry them through.

 

I heard Marciano was really frugal with his money.

 

Floyd Mayweather will be broke soon..

 

Another thing to remember is that the amount a fighter supposedly "earns" for a fight is a far cry from what he actually receives. Taxes take a huge chunk, along with training expenses, percentages that go to the manager, trainers, etc., as well as any advance that the figher might have gotten from a manager. Totaling up a boxer's purses is not an accurate portrayal of how much a fighter actually made during his career.

 

A funny story about George Best comes to mind when reading this thread.Basically he was asked what he did with all the money he had earned.His reply was he spent some of it on fast cars,booze and women.The rest,he just squandered!!LOL.