does the fighter get after taxes, and the trainer's and the others take their cut? I'm just curious as to how much of the $20-$25 million a guy like Floyd actually pockets.
I'm gonna take a stab and say 60-65%. In Pavlik's fight with Taylor he was awarded 1 million and after all that he got a check for $600 something thousand if I recall correctly.
10% goes to promoter 10% goes to trainer 10% goes to sanctioning body ??% goes to taxes ??% Miscellaneous expenses I would guess a little over half is left from a fighters purse.
I am a lawyer and I spent part of the afternoon with a well known heavyweight boxer's (I won't say who) longtime lawyer/manager at a conference. You'd know exactly who he was if you saw him. Aside from making some interesting gossip/arguably defamatory statements about some of the various fight promoters that I can't repeat, he told me that he takes 1/3 + costs off of the top of the purse just like in any other contingency fee case. He didn't specify whether this included PPV profits. Given that this guy was providing fairly complex legal services (mostly contract review/negotiation, IP stuff as assocated with broadcasting & organization of pressers, etc.), I had no reason to doubt the truth of his statements.
No sir, that was his origianal purse. He had a little over $600 thous. and his dad had a check for a little over $100 thousand and the news report telling of the hotel incident said the Pavlik's had left 3/4 of a million in checks at the hotel.
I know tax takes a big percent, it all work in tax brackets, i know if you make the biggest amount such as the over 6 digit figure, you will get charge the highest tax bracket which will be around the 40%.... ill see if I could find it... meaning if you get a one million check right off the bat 40% of that will be deducted leaving you with 600,000...
Example: Purse is $1,000,000 Typical Promoter for top fighter takes 20% off the top: $800,000 left Typical trainer takes 10% off this number: $720,000 left Typical expenses for a big fight (could vary alot) apprx $30,000: $690,000 left Manager (if they have one) or top lawyer take 25%: $517,500 left Taxes in high bracket, apprx 35%: $336,375 left So there you have it. Figure 35%-40% is a very very fair number of what a top fighter takes home from the original purse that you hear they are getting.
All boxers have a promoter, and most have managers. Promoters put on the event and pay the purse. A manager will negotiate with the promoter to get the boxer the best possible deal. A good manager will easily pay for himself (similar to a sports agent).