http://www.notifight.com/artman2/publish/Reporte_7/Cotto_trae_propuestas_desde_Macao.php
The Puerto Rican Miguel Cotto left Macao, and in his portfolio, he caries the offer made by Bob Arum, Top Rank honcho, who's looking to bring him next year in a pay per view event with Argentine Sergio "Maravilla" Martinez to the new mecca of professional boxing, Macao China.
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At the moment, the financial conditions that Bob Arum offered are unknown, but it's estimated to be superior in every way to the 10 million dollars offered by Golden Boy Promotions.
gbp wins in the end if cotto fight martinez and some how wins can you imagine oscar bending over in his fish nets letting cotto poke him to get a fight vs quillen he would have the right to claim number 1 without having to fight an actual mw.. or getting a floyd rematch and getting him a mw title
No we dont.
Its my understanding that certain residents DO pay federal taxes when the income is outside of puerto rico and you were a resident (PR) the entire taxable year. I could be wrong, but my brother in law had said some ish like that. Ricans are still US citizens and Im fairly sure that applies to them as well (Not sure if Cotto being born in the "US" changes anything but i think it doesnt as he is still a us citizen regardless if he was borh here or there)
Nice that Cotto has options. IIRC Cotto would be leaning towards Martinez' 160 title for his own legacy.
If this was a few years back I wouldn't bet on Miguel, but with Sergio's legs these days he might catch him.
No. He is a resident of Puerto Rico. We dont pay federal taxes. Knowing Miguel financial advisors, the net amout they will report here wont be near 2M
....but they DO pay a $h1t load of taxes in the island! :spank:
Cotto may not have to pay any taxes in Macao, but he will have to pay taxes in the United States when he returns home, so regardless of where the fight takes place, he will still pay 35 percent of it in taxes.
No. He is a resident of Puerto Rico. We dont pay federal taxes. Knowing Miguel financial advisors, the net amout they will report here wont be near 2M
$10 Million
vs Canelo in Vegas = $3.9 taxes
vs Canelo in NY = $4.7 taxes
So he takes from $5 to $6M
Arum is not going to offer him $10 guarantee but if he does
vs Martinez in Macau = $1.2M, he takes $8.8. Even if the guarantee is $8M, he will take $7.2.
Arum can be a snake, but he knows business. Macau seems legit to do business. I might see if I can get a transfer over there and to hell with the taxes over here.
Cotto may not have to pay any taxes in Macao, but he will have to pay taxes in the United States when he returns home, so regardless of where the fight takes place, he will still pay 35 percent of it in taxes.
This is the funniest thing I have heard all day. I don't know what the attendance was for Pacquaio/Rios, but I would bet that the live gate did not exceed $5 million.
Between what the casino paid, the USA ppv, and Chinese ppvs, and other televised rights fees, it's hard to know what top rank made, but id assume overall they did just fine.
10 mill seems like a whole lot for cotto to fight Martinez, but if a Macao casino is taking care of the difference, it's pennies to them.
Fuck it, if it's more than the 10 mil that he's being offered by GBP then why not take it? Plus since it's in China he's likely to take home a lot more money than he would fighting in Vegas.
You have to figure that the whole boxing in China thing is a success financially for everyone, otherwise Arum wouldn't be setting up more events there.
Because China is where the moneys at
Macau sh*ts all over Vegas and I hope they release the gate for the Pac-Rios fight, it'll blow the Canelo-floyd gate out of the water
This is the funniest thing I have heard all day. I don't know what the attendance was for Pacquaio/Rios, but I would bet that the live gate did not exceed $5 million.
http://www.notifight.com/artman2/publish/Reporte_7/Cotto_trae_propuestas_desde_Macao.php
This thread is retarded. If the amount Arum offered Cotto to fight Martinez is unknown, how can it be estimated to be more than $10 million?
This sounds like some bullsh.t that Bob Arum planted with one of his boxing blog *****e$. Cotto didn't make $10 million fighting Pacquaio. There is no way Arum is going to pay him more than $10 million to fight Martinez.
Honestly, any fight that's there has to have him on there and I bet he's looking for more talent to sign as well.
That's way Ik Yang and Tso have been on the past 2 (Yang is new though)
Tso might get signed by Arum.... Ik seems to be popular because I've heard of him before (on some crap ESB article though).
But yea, any Macau card needs to have Shiming on there. I guess it's cool with Arum, but he started paying him way too much to keep that path.
I guess it's worth it though to build Macau up
It will be interesting to see what the ppv does in china. That will give us a much better idea of what kind of market shimming has in china.
I don't really know who the other Chinese fighters arum signed are, but if one these guys were ever to get big, and than fight some of the kameda brothers from japan. My god, I cant even imagine what kind of numbers it would do.
The kameda brothers are rock stars in japan.
To make big fights where extra $ is needed it will help, top rank will still have to do most fights in the states. Its not like they can depend on Macao.
You also have to remember, shimming is the gold piece here. And right now there's only one of him. I'm sure a casino would love a cotto fight, but they want shimming on that undercard.
Honestly, any fight that's there has to have him on there and I bet he's looking for more talent to sign as well.
That's way Ik Yang and Tso have been on the past 2 (Yang is new though)
Tso might get signed by Arum.... Ik seems to be popular because I've heard of him before (on some crap ESB article though).
But yea, any Macau card needs to have Shiming on there. I guess it's cool with Arum, but he started paying him way too much to keep that path.
I guess it's worth it though to build Macau up
Don't care where it is I just want to see it lol, better put a good undercard like Bradley on there. Learn to use the undercard Arum! Maybe you will get money that way
That's a huge advantage to Top Rank then.
If they can do that, they can make fights with some good bankage behind them.
It sucks that it's all the way in CHina, but the makes some fights that much more possible
The only stipulation is the fighters have to adapt to the time change for the fight...
To make big fights where extra $ is needed it will help, top rank will still have to do most fights in the states. Its not like they can depend on Macao.
You also have to remember, shimming is the gold piece here. And right now there's only one of him. I'm sure a casino would love a cotto fight, but they want shimming on that undercard.