I don't think many of those 80 original investors would have seen Frazier as anything like a sure thing to succeed. They probably just wanted to give the kid a chance in the pros, he'd done Philly and the USA proud by winning the Olympic gold medal. He didn't cut the picture of being the next professional world champion though. With guys like Ali and Liston and Terrell around, the short-armed Frazier was a long shot.
MR. UN, As usual,,,,,,,you're right-on. After the 1964 Olympics, Joe Frazier had a broken hand, and needed 6-months off before starting his Professional Career. When he started, besides Yank Durham, there was nobody their for help. With help from his local church, that group got together and did the right thing. I don't think anybody had a thought of trying to reap in big money off Joe.
i think joe could of gotten more out of these guys 100 a week that is chump change i dont know the story behind this cloverlay company but if i were joe as soon as i won the title i would of threw those members out the front door on their asses:yep:think
Yeah, and no one could have foreseen that just a few years later, 1968, Ali would be out of the game ..... and Joe Frazier and JIMMY ELLIS would be number 1 and number 2 in the division. Both would be considered slim chance outsiders in '65, Ellis even more so than Frazier.
MR. Mister, That was the deal at the beginning of the contract, January 1, 1966 $100 / Week ($5200 Year Salary) Plus expenses for training and travel. Also, $20,000 as his bonus. The Group also secured a loan for Joe Frazier, to buy a house in Philadelphia. Plus, Joe was given bonuses, and his weekly salary was re-adjusted to $173 / Week in mid-1966. Add the fact, that Joe kept 50% of all his fight purses. The goal, was to take any financial pressure off Joe, so he could focus on boxing. IT WORKED!
it worked for the cloverly people i think 35%was too much cloverly should of received nothing until joe started making real money then they should of received 10% like i said if i was in the same position i would of got security to throw cloverly out of the office:yep:think
MR. MR. The Cloverlay Group, lost money in 1966 and 1967, sponsoring Joe's boxing career. There was no money to be made, as the fight purses were not that big. As a matter of fact, additional local people had to get involved, to help further Joe's march to the title. By the end of 1967, 231 people were part of the Group.
i dont think a fighter needs all these investors and give up 35% of his hard earned money joe needed a good manager and that would pay the manager 10% trainer 5% the cutman 2% and 3 %for miscellaneous and 80% for joe:yep:think
The Cloverlay, Inc. Group finally made money after the George Chuvalo fight. By, mid 1970, Joe Frazier had a base salary of $1000 / Week. His fight purse money was put in a Deferred Annuity Account. Smart business. His Fight Purse was also modified, to 55% Joe Frazier, 30% Cloverlay, 15% Yank Durham. If their was no Cloverlay, their would be no Joe Frazier.
Everlast,,,, The Fight Odds; vs. Bonavena I,,,,9-5 (Frazier) vs. Chuvalo,,,,,,,,11-5 (Frazier) George Chuvalo was a 'live underdog' for that fight. Many of the street boxing guys felt that George Chuvalo was too tough of a fighter for 'Smokin Joe' at that time. The odds opened up around around 3-1 for Frazier, but a lot of Chuvalo money came in.
BEENO, I wouldn't have believed it, but Yank Durham did flat out say that they were interested in a possible fight with Buster Mathis or Sonny Liston in early 1967. But, they did not want to fight Zora Folley.
Mathis had an amateur win over Frazier, so naturally Frazier wanted his revenge... He got it too, down the road as a pro... :deal OOOHH! Liston was aging in '67, but still dangerous if trained... Durham was smart to avoid that Truck in traffic... :think Zora Folley could move with speed, but his power sucked... I can see Frazier coming on late to halt Folley... :bbb SR.BILLARDO:hat
I think Yank was going by the way Zora Folley handled Oscar Bonavena. I'm guessing they were still concerned about Joe avoiding the straight-right. It was right around the beginning of 1967.
Frazier was green as the grass is in the spring back in '67.... Frazier of '69 was a beast...... MR.BILL:hat
