So if I'm understanding the issue Derrick was paid over 2M but wants 5M based on loose verbal agreements established many years ago with the amount he has been paid varying greatly?
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Comments Thread For: Errol Spence Sues Derrick James, Too: Argues Pay Was Consistent
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I am sure that Derrick James gave Spence good advice and advised him to live the lifestyle of a dedicated boxer. Spence's car accident being intoxicated is a good example of this. I agree with above comments stating that everything fell apart for Spence once he lost to Bud. Spence seems to be cleaning house and blaming his former trainer for his loss. Too bad their business has to be made public. Oral agreements will not hold up in court. I see Derrick James getting screwed in the end. Spence will be on the long list of boxers blaming their trainers for losses in their fights.
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Did not know that the trainers were entitled to 10% of the ppv sales. How about if the ppv flops, does he pay the difference?
Regardless verbal agreement won't stand and the history of him paying 10% with a bonus won't make it that is what is expected. It is like getting a tip, he got more than the 2.5 million dollar purse.
This is something they should have clarified even if they have been together so long when they were heading to that huge fight against Crawford.
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Roach got a cut of ppv, mayweather sr got a cut of ppv, the Garcia clan has always gotten a cut from the ppv. This is why golovkin and others tried to switch to a flat rate fee. You can argue in each case for which side is right but it’s a complicated situation. You want that trainer only focused on you it has to come with some sacrifices for both sides.
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Always , always, always , handle money matters in writing with legal contracts. That's the only way to do it , no matter how close you are. Money makes people do things that you would never suspect. Be professional about it.
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Originally posted by crimsonfalcon07 View PostWell, it appears Spence is going to be in the courts for his next fight.
Might make it harder to find a new trainer if you have demonstrated you aren't willing to pay the one that built you up through the Olympics and unified champ and honor your agreements. It's a shame this is ending so ugly.
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Unless there's something more to this it just seems really shady by Spence imo. You made $25m (on top of all the millions you've already made), how much money do you need? Do the right thing and pay the man his $2.5m. He was right there with you putting in the work day-in, day-out, grinding in the gym for a measly $250 when you turned pro, now you finally reach the culmination of it all and get the big payoff and you want to take his big payoff away from him? I doubt the Spence family would even notice that $2.5m, but I'm pretty sure the James family would.
Al Haymon saying $350k is "generous" actually pisses me off. Is that how much Al made from the whole event? Because that would be generous, but something tells me his slice of the pie was a little bit larger. All these managers, promoters and "advisers" make sure they get their cut, but the guy who's been putting in the work with Errol for fifteen years since he was a nobody gets stiffed on his big payoff? Even if Spence feels like James didn't do enough in the Crawford fight, you pay him that money unquestioningly out of sheer loyalty if nothing else.
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