Comments Thread For: WBC To Present Plan For Pension Fund in Coming Weeks

BIGPOPPAPUMP

The World Boxing Council wants to present a working plan for its pension fund by the end of January.

At the WBC's fiftieth Convention, which is this year being held in the Oasis Hotel, Cancun, its President Jose Sulaiman explained that by this time a worldwide list of boxers who have fallen on hard times and are in dire need will be drawn up. He stressed that the financial side will be dealt by an indepentently established committee.
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Sitoh

Nice font size

ddangerous

Pretty noble cause. Hopefully it is not abused, and also doesn't end up promoting irresponsible spending. WBC Pension Fund +1, WBC Pres reinstated -1.

anonymous2.0

I disagree.

A pension sounds good, but really its another fee the fighters under the WBC have to pay, and not every boxer under the WBC is making 6 figure paydays. I really don't see outside serious 3rd party funding for this and I don't see how the WBC will be able to solely fund a world wide pension for their athletes. And as for the Old Guard who have come on hard financial woes, this pension idea is just basically giving them free money.

This pension idea sounds good and makes the critics happy, but it doesn't solve the underlining problem that many of the boxers today do not have the financial background to properly manage their money. Honestly the only two boxers I would think would have no problem managing their money by themselves is Bernard Hopkins ( I believe he is a straight up miser) and Juan Manual Marquez (who was an accountant before boxing).

The NFL to my understanding is actually offering classes on how to properly manage money and portfolios. Maybe education is better then getting a pension.

pacmanis1

Terrible idea. I mean it sounds good and is a nice gesture, but I don't see how it could possibly work.

Gypsy John Fury

I'm not convinced a few watches are enough assets to kick start a pension fund. Need to see fighters contractually enrolled into the pension plan with a % of purse.

TBear

Something that is long over due and has been called for many times before in the boxing community. The only concern I have is that the WBC usually acts in it's own best interest and towards profit. Would the funds be accounted for and for the fighters. Or is this just another business move for the WBC?

Sitoh Amateur Join Date: Oct 2012 Location: Puerto Rico Posts: 15 Rep Power: 0 Points: 1,081.53 Bank: 0.00 Total Points: 1,081.53 Donate	Nice font size

ddangerous Behind you. Join Date: May 2012 Location: The States Posts: 3,586 Rep Power: 15 Points: 699,466,669.53 Bank: 233,389,520,081.93 Total Points: 234,088,986,751.46 Donate	Pretty noble cause. Hopefully it is not abused, and also doesn't end up promoting irresponsible spending. WBC Pension Fund +1, WBC Pres reinstated -1.

pacmanis1 Interim Champion Join Date: Apr 2008 Posts: 736 Rep Power: 7 Points: 1,000,037,411.18 Bank: 0.00 Total Points: 1,000,037,411.18 Donate	Terrible idea. I mean it sounds good and is a nice gesture, but I don't see how it could possibly work.

Gypsy John Fury Contender Join Date: Mar 2010 Posts: 424 Rep Power: 5 Points: 111,039.21 Bank: 0.00 Total Points: 111,039.21 Donate	I'm not convinced a few watches are enough assets to kick start a pension fund. Need to see fighters contractually enrolled into the pension plan with a % of purse.

TBear Lords of Boxingscene Join Date: Apr 2008 Location: In the shadows of your dreams Age: 89 Posts: 60,490 Rep Power: 323 Points: 1,492.70 Bank: 50,213,051,128,204.63 Total Points: 50,213,051,129,697.33 Donate	Something that is long over due and has been called for many times before in the boxing community. The only concern I have is that the WBC usually acts in it's own best interest and towards profit. Would the funds be accounted for and for the fighters. Or is this just another business move for the WBC?