Why would they deserve 150,000 from each fighter? Thats is a lot for a cheap belt. WBO is not even that respected. They should just make the ring mag belt the only one a boxer needs. Too bad its bought by GBP.
Not too sure how it works, but you would imagine the sanction fee would cover the ref, judges,health and safety, misc admin expenses, and the cost of the belt and a proportion to cover the running of the organisation. Although, I would imagine the promoter may pay everything, and the governing body charges big bucks for just sanctioning the fight and charging for the belt. Anyone know any more about how the game works?
just to add to this question was do sanctioning bodies do with the profits, do they reinvest it at grassroots level and other stuff or do they give the profits to shareholders etc?
Again, because of the title they are earning more money in total purses. By holding a title, or having a title on the line, they are sure to be making more than 150,000 that they'll have to pay in fees. The title, even the WBO title, being who is wearing it, is worth at least a million dollars more, so in reality, the fighters aren't losing money by paying the sanctioning fees, they are making money by holding that organizations title belt.
Additionally, the WBO title belt has been around since 1988 now, that's over 21 years. It has some merit now.
Yes. I forget which percentage they take, but taking 150,000 may still leave some lesser paid title holders with a loss .
Yeah and your forgot their penthouse sweets, hookers for the weekend and lobster dinners.:good How it works is all wrong.
This is not true. The WBO minimum weight titliest doesnt make a million dollars for holding that title. How it works is that the promoter of the fighter/fighters offers the purses to the fighters. If agreed upon the fight is made and the sanctioning fee is paid based on this. If they two sides cant come to agreement it goes to a purse bid with the highest bidder winning the ability to promote the fight. The percentage split between champion and challenger is preset from the sanctioning body. Obviously Manny Pacqaiou is going to be paying a larger sanctioning fees because of the tremendous money he generates. Im not too sure about limits on the top and bottom end, because obviously a fighter could ask for more money in the form of PPV buys and or some other way of deferring money away from his purse. The problem is its a private business basically. They appoint judges, they rank fighters, they fly in, live high on the hog during fight week to watch the fight etc. Its really the only pro sport which generates the kind of money it does, without having some national governing body, so corruption is so apparent. That being said the most corrupt promoters are now in the twilight of their careers, so besides the Valueav fights we are seeing less of it.
I got a question related to the thread. Is it a possibility than a new belt by a new sanctioning body can just be made. Is there a limit to how many different sanctioning bodies have world belts. Say someone like SRL felt like the sanctionin bodies had no cred and made his own belt, could it theoretically become as big as the WBA's and WBC's ??????
