Michael Moorer SAD STORY on being BROKE

Shame

Don King'd.

 

Like Eubank said it's a mugs game. The sport is rigged and so corrupt and it uses fighters up who are not wise enough to know they are nothing but a commodity. Doesn't matter how good your promoter or manager is to you, once you are no longer an asset to them they chuck you aside. It's a business and a dirty one at that and all boxers need to realise this, it's rare that you have a manager or a promoter who actually cares about a fighter beyond the payday they can provide.

 

Any piecework is like this. Any. Piecework. Any small business (which is what these guys are) is like this. You gotta sock some money away at some point or you end up less well off than you would like.

 

True you got to have money in the bank regardless of what industry you work in, that's something many struggle to do as we've been raised in a society where getting into debt is something you just do, whether it be a mortgage, student debt or consumer debt.

 

An extremely sobering video, for any boxing follower! 28 surgeries and the total purse money split, no wonder Michael is a strong advocate of a union for boxers.
It would be appropriate for Teddy Atlas to see this interview. He is always on about the poor treatment of boxers, in his weekly podcast, “The Fight,” where he has a petition going for a National Commission.

 

You can't spend the dough on flash cars and nice watches. Ya gotsta buy assets for when you can't fight anymore. I believe that old Larry Holmes was very smart with his investments.

 

Even with everything stacked against them business wise, these guys are still getting paid life changing money. It sounds harsh but it’s mainly the fault of the fighters for going broke. More fighters should follow the path of guys like Norris and Holmes, who started making investments right away.

 

I don't understand how the manager and promoters supposedly paid no taxes and Moore footed the entire bill. Makes no sense.

 

You're not wrong, but most people who are not boxers are terrible with their finances. The average person in the UK's debt is 97% of their annual income not including mortgages. Most people making boxers money would end up broke too because the average person is bad with money.

My mate works in the film industry and during the pandemic almost everyone he knew in his sector of the industry was in serious financial trouble as they had no savings and were self employed. Then when the actors strike happened did these people learn from their mistake from before and ensure they had savings put away, of course not the same people ended up asking my mate if he knew of any jobs going. My mate actually passed up on jobs he got and gave them to other people because he had plenty of savings and these fools didn't and hadn't learned from the pandemic and these guys make good money, nearly 6 figures a year.

 

I understand it he got screwed into paying for everything legally.

 

The vast majority of humans in this planet have no concept of how capital works. Hell, I didn't even know what compound interest was till I got a business degree at age 40! This stuff should be tought in school, not nonsense like Texas History which is shoved down kids throats here.

 

as far as a curriculum, i would measure it like this: delayed gratification > texas history > a bunch of other stuff > gender spectrum studies and victim culture

 

Sad part of this is he almost had one last real good run, in 2005 or 2006. They were trying to get him a fight with Klitschko, and he just abandoned the project and walked away.

Sure wish he would have taken it.