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.
He explained: "I'm asking all of our members to look within their nations, to advise us of who are the former boxers really in great need, so the WBC can spend the money we have to help them. And we have our World Boxing Cup as more income coming and some other things we are thinking about."
The fund recieved a massve boost thanks to luxury Swiss watch company Hublot, who raised a million dollars for it. Hublot presented twelve WBC Super Champions with watches, and then auctioned exact replicas.
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…Comment by Gypsy John Fury on 12-05-2012
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.Comment by pacmanis1 on 12-05-2012
Terrible idea. I mean it sounds good and is a nice gesture, but I don't see how it could possibly work.Comment by anonymous2.0 on 12-05-2012
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…Comment by ddangerous on 12-04-2012
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.Post a Comment/View More User Comments (6)