Boxing Finances

3 seconds until 'leforge' makes a post about allegedly.

 

its my understanding its different for most fighters. But i understand most fighters in the early stages that our signed to a tv promoter will have a minimum and maximum for the money they will earn in a year and the amount of fights they will have. many will get paid monthly and will get a lump sum after fights.

certainly when you hear about fight x being paid £1milllion they will rarley be getting it paid into there account in a lump sum.

 

I thought the title said fiancee's and was expecting pics of Sakio Bika's Mrs.

 

The manager negotiates the purse with the promoter. On top of this there may or may not be a ticket deal where the fighter gets a percentage of the ticket sales.

Usually the promoter will have a cash office at the event from where fighters, officials, house seconds, doctors, paramedics etc. are paid.

As soon as the fighter has finished his bout he or his manager will go to the cash office to reconcile ticket sales etc. and collect his purse.

promotional deal is a negotiated fee for x number of fights.

 

Or x time period in some cases.

 

but remeber ,the fighter will haveto pay the cornerman/cuts guys out of there purse aswell .

A promotor will have to pay for Secuirty/Ring hire (if they dont have there own)/Medical staff /Judges-Refs-Board Officials and there accomadation potentially (this can also be more if there is a title invoved as they would have to pay sanctiong body fees and costs for the supervisors etc/Mc/ Pa system/ amongs other costs aswell ...

 

Yep as a rule, a fighter will lose a third of his agreed purse to his manager and another third to training costs (Trainer, Facilities, Sparring etc), and then he has a tax bill to pay on the rest.

Boxing is not great money to 99.99% of fighters. I know three time alphabet world champ Duke McKenzie's biggest pay day was his fight with Steve Robinson, he got £50,000 minus deductions.

Now add 15 years of inflation, and that is still hardly top money, and that is the best a fighter with numerous domestic and world titles to his name earned...

 

Are you taking the ****?

 

No, not at all. This is a cash industry.

 

So say a £20k purse is handed over cash ?

Or on a larger scale £100k purse in vegas etc

 

I remember seeing Baz Carey and his manager collecting a purse at a show in Barnsley.

The manager's envelope looked nearly as well stuffed as the boxer's :-(

But you're talking about a guy who was by that time a low level journeyman.... surely nobody in their right mind would carry large amounts of readies around?

 

I know of an event where the promoter had over £100k delivered in cash on the night.

To clarify what I wrote earlier, the fighters usually deliver their ticket money on the day of the promotion - that's just the way it works. Because of the way a promotion is geared financially, that money, plus walk-up is needed to pay purses and other overheads on the night.

 

And most tickets are sold in advance so no need for the promoter to have that much cash on site.

If not, surely someone would have have gone nuts and taken the lot!!

 

Trust me, trying to get the ticket money in advance is incredibly difficult. Sounds simple but it isn't.