That's not actually true. The "upfront" expenses are really not that much in these situations, and fighters are usually waiting for most of their PPV revenue, so a promotion like Spence-Crawford probably wouldnt spend over $5-6 million in advance expenses, if even that much. All the marketing expenses, travel/accomodations, undercard purses, venue expenses, etc would all get paid in advance, or immediately after the fight, but not the entire Spence and Crawford purses, because they had no guaranteed purses. Maybe the fine print says they get a million or 2 on fight night to pay their teams / management, but the bulk of it wouldnt be for weeks, maybe months.
And very few co-promotions are 50-50. In most every case, the lead promoter puts up the advance money, collects the revenue, pays themselves back for whatever expenses were outlayed, and then the leftover money (profit) is paid out based on whatever the co-promotion split was.
And very few co-promotions are 50-50. In most every case, the lead promoter puts up the advance money, collects the revenue, pays themselves back for whatever expenses were outlayed, and then the leftover money (profit) is paid out based on whatever the co-promotion split was.

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