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Old 12-04-2012, 11:13 PM #1
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Post Comments Thread For: WBC To Present Plan For Pension Fund in Coming Weeks

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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Old 12-04-2012, 11:44 PM #2
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Nice font size
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Old 12-05-2012, 12:25 AM #3
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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.
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Old 12-05-2012, 01:22 AM #4
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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.
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Old 12-05-2012, 01:33 AM #5
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Terrible idea. I mean it sounds good and is a nice gesture, but I don't see how it could possibly work.
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Old 12-05-2012, 03:46 AM #6
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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.
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Old 12-05-2012, 05:17 AM #7
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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?
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