When a belt organization orders a mandatory fight, they order a free negotiation period, a purse bid date, and a specific time period for the fight to take place. If regular free negotiations fail, then it goes to purse bid. On the purse bid date, any promoter, including a promoter not associated with either fighter, can submit a bid. This is a one time bid. You can't increase or decrease the bid after you submit it. The highest bidder wins the right to promote the fight. The actual bid amount is only the amount that goes to pay the fighters. Any other money made from the fight outside that bid amount goes the the promoter's pocket. The purse split is actually determined by the belt org. It's usually 75% for the champion and 25% for the challenger. The winning promoter determines almost everything else. The location, venue, network, date (within the specified time period), and whatever else is solely determined by the winning bidder.
Thanks for the info! Quick question, what if the current champion's promoter loses the bid...does that mean that the champ gets the smaller split of the purse?
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