IBF Responds To Nonito Donaire on Title Belt and Fees
by Ronnie Nathanielsz
WBC Diamond Belt and WBO super bantamweight/junior featherweight champion Nonito “The Filipino Flash” Donaire’s IBF belt, which he should have received after winning the title from Jeffrey Mathebula last July in California, is on the way.
When Donaire decided to relinquish his IBF title claiming he didn’t wish to pay the sanction fee amounting to $42,000 for the title fight against Japan’s Toshiaki Nishioka last October 13 and mentioned that he hadn’t received his IBF belt, we contacted IBF Championship Committee chairman Lindsey Tucker about it.
Tucker told BoxingScene.com/Manila Standard that Donaire “did not receive his IBF Championship Belt because Top Rank did not pay for the Belt until Aug. 24. A week later we sent an E-Mail to Top Rank asking them where do they want the IBF to send the Belt. Since then we sent at least one other E-Mail requesting an address to ship the Belt to. The IBF E-Mailed Top Rank again this morning and they told us where to ship the Belt. It will go out this morning. That is why Donaire never got his Belt. ”
Regarding the sanction fee mentioned by Donaire, Tucker said “the amount that we got was $750,000.00. 3% of that is $ 22,500.00. That was his purse amount. Plus, because we want everyone who fights for our Title to join the IBF Retirement Plan, Donaire was charged 2% of his purse or $ 15,000.00.”
The IBF executive told us that Donaire “is already in our Retirement Plan because he fought for our Flyweight Title and defended it at least once. The total deductions were $ 37,500.00, not $ 42,000.00.”
At the same time Tucker indicated “I don't know what the WBO charges but I think it's 3%. I'm willing to bet the WBC sanction fees were 3% or higher. He didn't have a problem paying those fees.”
should'nt the retirement plan be optional even if you fight for their belts? this sounds like extortionComment by Check_hooks on 10-17-2012
The IBF "retirement plan" sounds like one of the biggest scams ever How about you let boxers keep that 2% and put it in there savings account you crooks And they said that he already paid that 2% at flyweight…Comment by 285Kid on 10-17-2012
[QUOTE=kiaba360;12613909]What are the sanctioning fees used for?[/QUOTE] [IMG]http://i.imgur.com/nehDW.jpg[/IMG]Comment by Medved on 10-17-2012
No wonder Wlad only one with all the belts, he the only one with money :lol1: He doesnt need any as everyone knows who the boss @ HW is.......but the Michael Buffer intro's sound nice.... Plus im 99.99% sure that…Comment by DoktorSleepless on 10-17-2012
[QUOTE=-Kev-;12613772]Those fees are like an entry level job salary. Who wants to pay that unless they get millions of dollars. I can only imagine guys like Pacquiao and Mayweather paying for sanctioning fees by percentage. If it's true that the…Post a Comment - View More User Comments (23)