Who can explain to me Purses and "purse bids" ?

A purse bid is when two boxing promoters get together and start an auction with their wives purses in front of an audience. Who ever sells a purse for the highest amount, the fighter of that promoter gets to keep that purse. It doesn't make sense but that's what Makavelli told me.

To answer your ? 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. wrong answer. the initial step is negotiations between both fighters representatives in an attempt to reach an agreement on each fighters purse. should the parties involved fail to reach an agreement, then the sanctioning body orders a purse bid where it is open to all promoters, with the highest bid then being accepted. as far as the fighters purses in a purse bid situation the split is set at a higher pecentage for the champion that split being usually determined by the sanctioning body. btw it is called plagiarism when you don't cite the source of your information, and attempt to pass it off as your own http://en.wikipedia.org/wiki/Purse_bid

2 grown men fighting over a purse and a belt. :wave:

i was reading this about the 2 week extension the WBA gave to the khan maidana fight to get it done, schaefer said: "Amir Khan just changed promoters and is with us now, so we asked the WBA to allow us to discuss things with him to see what he wants to do and so we can speak with our co-promoters with Maidana to see if we could come to terms without a purse bid, or work out a situation acceptable to both parties, and that was granted," Schaefer said. "We have two weeks to see what we can work out. If we can't work anything out we will go to a purse bid." Can someone explain how the whole process and ins and outs of getting a fight signed including what the purse and purse bids is about cheerz To answer your ? 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.