Sergey Kovalev to take home just a quarter of his purse from Bernard Hopkins victory

[HughJass]

I'm positively sure Kathy said if Sergey won the Hopkins bout then that's when the money will start to come in.

It was Kovalevs lottery.And he won.

[King_]

Do most people think that the purse a fighter receives is the same as what they bank? The manager, trainer, and sparring partners cost money too and that's after tax.

Remember too that a 500k purse is beyond the wildest dreams of most guys in boxing. This is the reality of the sport. Very few people make significant money in it. There are guys at the world class level barely scraping a living.

And the move towards premium networks over the past 20 years has made the situation worse, not better. There are even fewer opportunities to earn now because the wider public sees less of the sport.

Pretty sure your average boxing fan knows that the guy who spends every day training, and the man who sets them up with fights get paid.. But do you know if all boxers pay 50% of their purses towards taxes? That's a ridiculous number

[Razor Ramon]

That'd be income tax wouldn't it? It's 45% on anything over 150 thousand P/A in the U.k and I can't imagine America/Canadas much different.

[////]

Pretty sure your average boxing fan knows that the guy who spends every day training, and the man who sets them up with fights get paid.. But do you know if all boxers pay 50% of their purses towards taxes? That's a ridiculous number

So does most anyone making mid six figures per year.

Under modern tax schemes your quality of life isn't that different whether you make a below average salary or a few hundred grand. It creates very little incentive for anyone to try very hard. A lot of the "1%" are taxed effectively back into middle class living (like urban doctors).

The only people who win are the ones in the gov who get to spend all that money, while blaming phantom "rich CEOs" for everything.

It's a problem way bigger than boxing.

Even Floyd who gets paid an obscene 30-40 million dollar's per fight has been in debt with the IRS for years and seems to be buying his Rolls Royce fleets on borrowed time. Manny's also in a tax hole. So imagine what the average boxer takes home. These guys just live it up like rock stars while they have it because it's getting taken as soon as they stop fighting anyway.

[Robbie Barrett]

Pretty sure your average boxing fan knows that the guy who spends every day training, and the man who sets them up with fights get paid.. But do you know if all boxers pay 50% of their purses towards taxes? That's a ridiculous number

Every big earner pays huge taxes boxer or not.

[Da Machine]

My guess is he didnt pay taxes on anything else during the year, and wil have to pay the taxes for all of his bouts out of the bhop purse.

EIther that or his promoter/manger has him in a slave contract and is lying to him.

[King_]

So does most anyone making mid six figures per year.

Under modern tax schemes your quality of life isn't that different whether you make a below average salary or a few hundred grand. It creates very little incentive for anyone to try very hard. A lot of the "1%" are taxed effectively back into middle class living (like urban doctors).

The only people who win are the ones in the gov who get to spend all that money, while blaming phantom "rich CEOs" for everything.

It's a problem way bigger than boxing.

Every big earner pays huge taxes boxer or not.

Wow. That's BS. I didn't know big earners get taxed so much. This tax money gets used on crap and probably gets those sleazy politicians rich........

Feel bad for Floyd and Manny.

Sadly nothing will be done about this.

[Beercules]

What?! Why ?!

[Deevel916]

Where's he getting this 50% tax figure from? In the U.S, those making over $400k/yr have to pay a tax rate of 39.6%.

[Banderivets]

Sounds like bull**** to me, I'm in Canukistan and even I know that US does not have a tax bracket above 40%.

So the most a man can pay on any income in US is 40%

Besides I don't know how boxing business works, but unless his promoter is paying for his sparring partners etc, I'm pretty sure those things can be written off as business expenses by Kovalev himself.