How RICH are the fighters?

[BattlingNelson]

Most fighters get paid squat and have to work full-time to eek out a living.

Marvin Johnson and Matthew Franklin/Saad Muhammad put on what was probably the greatest fight of the 70s and got paid less than $3,000.

Gross, not net.

Whoa! That sucks.

Boxers generally has a reputation for being ripped off. If not during their career from crooked handlers then shortly after from 'smart' investment advisors.

[Thread Stealer]

Whoa! That sucks.

Boxers generally has a reputation for being ripped off. If not during their career from crooked handlers then shortly after from 'smart' investment advisors.

The Ring had an article a little while ago with each writer naming their favorite fight ever. Nigel Collins said that Franklin and Johnson grossed about $2,500 (if I remember correctly).

I thought Saad-Lopez 2 was the best light heavyweight fight ever until I saw Saad-Johnson 1. I liked that one even better.

Boxers always get underpaid and exploited. It's quite sad. As much as I may get irritated that someone like Mayweather is going after a bigger payday in a DLH rematch, or Calzaghe looking after a big payday in a shot/badly aged Jones, I can't really honestly say I blame them on a personal level. It's what people do at their jobs, try to make as much money as possible, and most occupations are less dangerous and have more longevity than being a pro boxer.

The stories of fighters ending up broke or getting exploited go on and on:

-Iran Barkley made millions and he still lives in the projects in the South Bronx
-Beau Jack headlined more MSG fights than any other boxer at the time, and he went back to shoe-shining after his career was done.
-Joe Louis ending up broke
-Ray Robinson, who was extremely business-oriented and fought hard for every last dollar at the negotiating table, ended up broke.
-Bobby Chacon has financial trouble from what I hear, and is brain-damaged.
-Wilfred Benitez: similar to Chacon, brain-damaged and broke. The PR government takes care of his medical bills.

[pesticid]

George Foreman, Larry Holmes I've heard, Vargas, DlH, those are guys that invest their money and make the money work for them rather than the other way around.

[Texanballer]

Espn/Telefutura pays main event fighters only about 15k

[Pantera2000]

Honestly these guys have a lot of people to pay. Its not like they get their full purses.

There are taxes. Trainers have to get paid, Gyms have to get paid. Doctors Lawyers. Here is a break down from another website


$100,000 Purse (Gross)

Tax (28%) = $28,000

Training Expenses = $10,000

Management (33%) = $33,000

Lawyer (5%) = $5,000

Trainer (10%) = $10,000

Boxer has $14,000 left

$100,000 Purse (Net)

Tax (28%) = $28,000

Training Expenses = $10,000

Management (33%) = $20,460

Lawyer (5%) = $3,100

Trainer (10%) = $6,200

Boxer has $32,240 left

Pretty good breakdown. If you have a good manager, your shouldnt need a lawyer though. Taxes are spread out to everyone who makes income, fighter doesnt pay other's taxes. Better senerio:

$100,000 Purse (after promoter takes 20%-30% of all income)

Training Expenses = $10,000 (promoter usually pays or shares in this)

Trainer (10%) = $10,000 (he takes it off the top)

Management (33%) = $26,400 (usually takes share after expenses and trainer paid)

Boxer has $58,600 before taxes, assuming promoter split training costs.

After 28% taxes boxer left with $45,708.


So as you can see, it is not quite as bad as you laid out.
After taxes most fighters keep 40-50% of their purse. Higher paid fighters will keep bigger percent. Normally they pay their managers and trainers a lower percent do to their bigger purses.

[Guest]

But some promoters are corrupt as hell and sign fighters to really bad deals.

Remember when Terry Norris had to sue Don King to get money from a bs contract.

Don't think that stuff doesn't still exist.

I think when a fighter starts out and is pretty good, he may not have the benefit and advice of good legal counsel and he ends up getting screwed for years.

[Texanballer]

**** that is a high tax rate. i had no idea it was that high, uncle sam owns boxers ****, is it that high on all checks of all professions?

[Guest]

**** that is a high tax rate. i had no idea it was that high, uncle sam owns boxers ****, is it that high on all checks of all professions?

Mine is pretty close to that. I believe that get screwed because they have to file it as 1099 which is income earned in your own business so it may be a little more than when you are a salaried employee.

I don't feel bad about it. In Europe, the taxes are higher than the U.S so they get really hosed, but have better unemployment should that happen.

[Pantera2000]

But some promoters are corrupt as hell and sign fighters to really bad deals.

Remember when Terry Norris had to sue Don King to get money from a bs contract.

Don't think that stuff doesn't still exist.

I think when a fighter starts out and is pretty good, he may not have the benefit and advice of good legal counsel and he ends up getting screwed for years.

The biggest problem is most promoters lie to their fighters and dont give them the 70-80% of total revenues they deserve. The promoter works out a deal and say he is gonna make $1,000,000 after expenses for the fight. His main even is entitled to his contract percent (say 75%) or $750,000. Instead, the promoter tells his fighter 'I got you a big fight, I can pay you $500,000, take it or leave it.' In this case the promoter makes more then he is supposed to, but the fighter never knows.... Not moral, but hey, this is boxing and most promoters are scum.

[Pantera2000]

**** that is a high tax rate. i had no idea it was that high, uncle sam owns boxers ****, is it that high on all checks of all professions?

They pay the same tax rate as any working income.
The actual rate goes to 33% for anything over $154,800 and 35% for anything over $336,550.