Warren wins Mitchell-Katsidis purse bid!!!!!!!!

Brilliant news, Frank Warren's done a good job there. :smoke

Can't wait for that fight, like you say lets hope for a decent undercard to add to the excitement.

 

this will sell out the o2 will a good undercard

 

katsidis getting us$412,000 and 5 round trip tickets not bad for intirim title

 

Purse Bid Minutes
3/2/2010
Interim Lightweight Champion Michael Katsidis vs. Challenger Kevin Mitchell
Purse Bid was convened for 11:00 am Atlantic Standard Time at the:
WBO HEADQUARTERS
1056 Muñoz Rivera Avenue Suite 711
San Juan, Puerto Rico 00927
Telephone +1 (787) 765-4628 * Fax +1 (787) 758-9053
Purse Bid Attendees:
1. Francisco Valcarcel, Esq. President WBO, presided the Purse Bid
2. Ms. Ann Mitchell Alroe and Mr. Sampson Lewkowicz represented Michael Katsidis
3. Mr. Dennis Gilmartin from Frank Warren Promotions represented Kevin Mitchell
The Purse Bid Notice was issued on 2/23/2010 for the date of Tuesday, March 2, 2010 to all Bona
Fide Promoters. T he Purse Bid officially began at 11:05 AM at the Verdanza Hotel in Carolina,
Puerto Rico. Mr. Valcarcel greeted all present.
Dennis Gilmartin handed Mr. Valcárcel his first envelope, thus initiating the Purse Bid. The
envelope contained a check in the amount of $1,000.00 (One Thousand Dollars) for the Purse Bid
Service Fee and proof of being a licensed WBO Promoter.
Sampson Lewkowicz handed Mr. Valcárcel his first envelope containing a check for $1,000.00
(One Thousand Dollars) to cover the Purse Bid Service Fee and proof of being a licensed WBO
Promoter.
Mr. Valcarcel stated for the record they are both bona fide promoters.
Mr. Valcárcel then indicated for the record that Mr. Lewkowicz was to provide a second envelope
which contained the offer of the Purse Bid amount of $501,000.00 (Five Hundred One Thousand
Dollars) and a check equivalent to Ten (10) Percent of the Purse Bid Amount; that is, $50,100.00
(Fifty Thousand One Hundred Dollars).
The second envelopes represents the written proposal indicating the total purse offered to the
Champion and the Challenger, the proposed sites for the Championship Contest, and the
proposed date for the Championship Contest, which is to be between 45 and 90 days from the date
of the Purse Bid. The bank money order payable to the World Boxing Organization, in the legal
tender of the United States of America (Dollars) for an equivalent of Ten (10%) percent of the
total of the proposed purse. The Purse Bond of the successful bidder shall be retained by the
World Boxing Organization to secure the Champion, Challenger and the WBO in the event that
the successful bidder fails to promote the Championship Contest pursuant to the Purse Bid Rules.
Mr. Valcárcel also stated for the record that the minimum Purse Bid amount established for the
Interim Lightweight Division is $150,000.00 (One Hundred Fifty Thousand Dollars).
Then, Mr. Valcárcel opened the second envelope belonging to Mr. Gilmartin, from Frank Warren
Promotions that contained a check in the amount of $51,500.00 (Fifty-One Thousand Five Hundred
Dollars) representing 10% of the Purse Bid Amount of $515,000.00 (Five Hundred Fifteen
Thousand Dollars). The proposed sites for the bout were all in England, though stating it would
probably be London and with a date of May 8th 2010.
The check in the amount of $50,100.00 (Fifty Thousand One Hundred Dollars belonging to
Sampson Lewkowicz and Ms. Alroe was returned to them.
Mr. Valcarcel then stated for the record that the purse bid division, in this case was $412,000.00
(Four Hundred Twelve Thousand Dollars) for Michael Katsidis and $103,000.00(One Hundred
Three Thousand Dollars) for Kevin Mitchell, subject to country laws regarding taxes.
Mr. Valcarcel clarified that the signed contracts must be received at the WBO Headquarters no later
than 4:00 pm EST, and the parties have five days from the date of the Purse Bid to send the signed
contracts. Any dispute regarding the contract will be resolved by the World Boxing Organization.
Rights to the show cannot be transferred without prior WBO approval.
It was accorded that the Katsidis Camp will receive 5 round trip tickets for the bout.
Finally, the winner of this Interim Bout must face the Champion Juan Manuel Marquez within 180
days, as stipulated by the WBO Regulations of World Championship Contests, provided Mr.
Marquez has fulfilled his obligations to the WBO.
Mr. Valcarcel then congratulated Dennis Gilmartin and Frank Warren Promotions, and thanked all
present for their participation. The Purse Bid ended at 11:45AM Atlantic Standard Time.

 

wow

 

^^^^Where do you get the info above on purse bids from...:think

If you cannot name the website on here can you please PM me...:good

 

So the purse just goes to the fighters? Whatabout promotion costs? Is that how it works? School me..

 

If it's in London I'm there. Nice one Warren.

 

That's a good read robert, thanks for posting that. Good to read what actually happens in a purse bid.

Gotta love the greedy WBO, getting $2000 in a purse bid 'service fee'.

Just out of interest, how much would the WBO get as a 'sanctioning fee' for a fight like this-and would it be Warren Promotions that pays it?

 

Great news to come in to after a minging day at work :happy

The o2 must be strong favourite to hold this? Think Upton Park will come in the future (if he wins of course which is far from a given) but it may be a bit too early for that.

 

That money will buy Mitchell a home town decision. Trust.

 

No need, Mitchell stops Katsidis.

 

would be great to see a fight staged in the greatest football stadium in the world!

I do, of course, mean Upton Park

 

Brilliant news.

This should be a *******.

 

Yeah it would be nice for Upton Park to make it two great events a year.

Shame Chelsea can't visit more often!!!