Comments Thread For: WBC is Launching a Pension Fund For Former Boxers

[BIGPOPPAPUMP]

The World Boxing Council is launching a pension fund for ex-boxers, with the help of luxury Swiss watch company Hublot.

Twelve all time ring greats will help launch the Fund, which is specifically aimed at helping former boxers, who’ve fallen on hard times.

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[hougigo]

Sureeeee..... to the boxing pension fund

[BostonGuy]

By James Blears

The World Boxing Council is launching a pension fund for ex-boxers, with the help of luxury Swiss watch company Hublot.

Twelve all time ring greats will help launch the Fund, which is specifically aimed at helping former boxers, who’ve fallen on hard times.

Hublot have created twelve watches for WBC legends: Ray Leonard, Tommy Hearns, Mike Tyson, Julio Cesar Chavez, Ken Norton, George Foreman, Larry Holmes, Lennox Lewis, Roberto Duran, Oscar de la Hoya, Jeff Fenech and Azumah Nelson. Each is engraved with the Champion’s signature.

Twelve exact copies will be auctioned of the evening of September 29th at the Bellagio Resort Hotel in Las Vegas. Tickets to this event, which will be attended by the Dynamic Dozen, are one thousand dollars. Proceeds from this and the auction will go directly to the WBC Boxers Pension Fund.

WBC President Jose Sulaiman said: “Having thrilled us with knockouts and lion hearted bravery in the ring, many of our favorite fighters have fallen on hard times, having suffered injuries, and they’re living in reduced circumstances. For years, this has been a great concern for those of us who love the sport and care deeply about its participants, who form a precious constellation. Now we can begin to help those boxers in need. We do not forget.”

For more information please contact the offices of the WBC in Mexico City.

So 12 watches @ $1,000 equals $12,000 - that should be enough money...

[hougigo]

Originally Posted by BostonGuy

By James Blears

The World Boxing Council is launching a pension fund for ex-boxers, with the help of luxury Swiss watch company Hublot.

Twelve all time ring greats will help launch the Fund, which is specifically aimed at helping former boxers, who’ve fallen on hard times.

Hublot have created twelve watches for WBC legends: Ray Leonard, Tommy Hearns, Mike Tyson, Julio Cesar Chavez, Ken Norton, George Foreman, Larry Holmes, Lennox Lewis, Roberto Duran, Oscar de la Hoya, Jeff Fenech and Azumah Nelson. Each is engraved with the Champion’s signature.

Twelve exact copies will be auctioned of the evening of September 29th at the Bellagio Resort Hotel in Las Vegas. Tickets to this event, which will be attended by the Dynamic Dozen, are one thousand dollars. Proceeds from this and the auction will go directly to the WBC Boxers Pension Fund.

WBC President Jose Sulaiman said: “Having thrilled us with knockouts and lion hearted bravery in the ring, many of our favorite fighters have fallen on hard times, having suffered injuries, and they’re living in reduced circumstances. For years, this has been a great concern for those of us who love the sport and care deeply about its participants, who form a precious constellation. Now we can begin to help those boxers in need. We do not forget.”

For more information please contact the offices of the WBC in Mexico City.

So 12 watches @ $1,000 equals $12,000 - that should be enough money...

Nah man, it cost 1,000 just to attend the event... it's ticket costs. WBC is robbing everybody blind

[Light_Speed]

More like the Sulaiman retirement fund. Seriously it's a great idea but I don't trust these crooks...

Originally Posted by BostonGuy

So 12 watches @ $1,000 equals $12,000 - that should be enough money...

No it's 1 grand to get in, then they'll start the auction. The prices for those watches will probably go up in the hundreds of thousands.

They should have made a Aaron Pryor watch. What time is it? HAWK TIME!

[Money Team.]

Boxers should have a 401k so that they can have money set aside after Boxing

[BostonGuy]

Originally Posted by the larryx

Boxers should have a 401k so that they can have money set aside after Boxing

Typically the 401k is a defined contribution plan setup by an employer that allows employees to set aside moneys (or contributions) from their paychecks.

Boxers are not employees but rather are self employed and could contribute to a SEP plan or IRA. Many of them could contribute to those retirement plans; it's a matter of them getting educated or sound financial advice and actually taking some of the purse and putting into those retirement accounts.

[jtcs1981]

The idea is great. However, you need something like MLB, NBA, NFL. There are too many organizations and promoters running boxing. They will start charging boxers additional fees when they fight under the WBC. But what happens when they fight and win other titles? We already seen that the WBC dont like unifications. This pension fund is a farce. Unless a sole governmental body is created, the boxers wont get any benefits.

[Juof]

Hopefully this isn't bs and that dude who did the best cry ever gets a little bit of coin

[MikeRo1972]

Sounds like a Sulaiman slush fund to me. Having the WBC administer a pension fund is like having a wolf guard a hen house. This is what NYC mobsters did all through the 60s-90s. BS pension funds where employees get ***** and the mob walked away with millions. I call BS