What is a purse bid?

A purse bid is an initial step in arranging a professional boxing match, involving the fight's / card's promoter(s). All interested registered promoters may bid on the amount of the purse (the total money that the fighters will be paid for the match), if the sides representing each fighter fail to agree on it before the deadline. The highest offer wins; however, the winning entity must produce a small percentage of the total amount up-front, by a certain date. How the fighters will split the purse is negotiated between the fighters' respective representatives. Purse bids are often won by one of the two fighters' promoters Very good... also, for mandatory title fights, the santioning bodies (WBC, WBO, etc) have set rules that dictate what percent the champion gets and what percent the challenger makes. Usually the champ gets 75% and the challanger gets 25% of the total purse. Example, if Miranda becomes the mandatory challanger to Jermain Taylor (which he will) after their May 19th fights, the WBC will give a deadline date for a purse bid if Warriors (Miranda's promoter) and Lou Dibella (Taylor's promoter) can not agree on terms. Anytime before the deadline the promoters can strike a deal of any kind (as long as the camps agree). On they the day of the purse bid any promoter sends in a check for the amount they want to bid (it could be a third party promoter, but not common). They open the envelopes and the highest bidder wins. For example, if Dibella sends in a check for $3 million and Warriors sends in a check for $4 million than Wariors gets the fight. In this case Taylor would get 75% of the purse ($3 million) and Miranda get 25% ($1 Million). Pretty simple, but until it gets explained it seems like a mystery!

A purse bid is an initial step in arranging a professional boxing match, involving the fight's / card's promoter(s). All interested registered promoters may bid on the amount of the purse (the total money that the fighters will be paid for the match), if the sides representing each fighter fail to agree on it before the deadline. The highest offer wins; however, the winning entity must produce a small percentage of the total amount up-front, by a certain date. How the fighters will split the purse is negotiated between the fighters' respective representatives. Purse bids are often won by one of the two fighters' promoters

I'm no good at explaining things, but I'll try. I thinks it's, when they don't have a set promoter for the fight, all the promoters who want the fight bid for it and the highest bidder wins. They money from the bidding pays the fighters purses. Hence the term, purse bid. .......EXACTLY !

when both sides can not come to an agreement, they put the fight up for bid. then promoters bid for the right to promote the fight.

I'm no good at explaining things, but I'll try. I thinks it's, when they don't have a set promoter for the fight, all the promoters who want the fight bid for it and the highest bidder wins. They money from the bidding pays the fighters purses. Hence the term, purse bid.

no one knows?