Boxers Pension Scheme

[MrRolltide91]

they should

[DeadLikeMe]

Pensions are almost extinct. It is a nice sentiment but entirely unrealistic.

[-MEGA-]

They just need to form some sort of union like basketball has.

[PainfromUkraine]

To be fair, its the fault of the boxers themselves that they get into situations where they blow their millions. You just have to be smart with your money. Now, this probably only applies to that select elite few who make the big $$$, so I feel perhaps those guys should be exempt, but the guys fighting on the lower tier, who make a hard living and hardly make any money to survive on but risk their health, then yeah, a pension scheme COULD work. Hard to implement effectively though.

[JmH Reborn]

I think a better use of time and money is to invest in actual financial education for these guys. Boxers by and large are just money illiterate. Keep giving them money without a educational foundation in finance will keep them broke and desperate regardless pensions.

I mean I have some real generic questions for something like this:

- And what is the calculation on how much each recieves?
- Do multi-million earning fighters like Pac, Money or Cotto etc pay into a pension, but don't receive pensions?
- What is the minimum amount of fights/years/rounds does a fighter have to engage in to be eligible to draw a pension?
- Who will be the fund manager/trusted agent that overseas the program? The feds?
- Is this open to foreign fighters or are they left to their own devices from their respective governments? Our political landscape is such that giving pensions to athletes would not be stomached - you could potentially have a situation where more socially ******* societies with substantive social nets could provide a program and US fighters or countries like Mexico with broken governments unable to provide

All in all - that's just a few questions that popped up within 20 seconds - nevermind legal issues and other complex questions and issues such as unions and such.

[JmH Reborn]

And you guys are making this a promoter's issue - which in itself just isn't feasible. They are agents - not employers. This to me falls in the realm such as drug testing that should be done by state and federal governments e.g. the Commissions.

Imagine Top Rank wanting to pay into a pension fund for Al Haymon's guys and these guys can't even negotiate a deal to match their fighters. Why would they wish to do this?

Then you run into issues where promoters offering all these perks like pensions/healthcare or whatever and then locking these guys into lifetime contracts for example, you are signed to Goosen promotions and in order to draw out from the pension plan - you have to fight under Goosen's banner for 10 years. So you are in year 6 - and you can't go across the street to Top Rank because you have to be there for 10 years to draw a pension, but TR is only willing to sign you up for 3 years and you are already on the downslide of your career. Do you go to Goosen and make less money for a pension that pays say 20% of your median net income?

[JmH Reborn]

They just need to form some sort of union like basketball has.

Unions work in basketball and football because there is a single entity to effectively bargain with.

You can't unionize in a sport where everyone [boxer] is essentially a contractor and promoters provide a service of promotion.

You can't have an effective union where 2/4 are signed w/ Haymon, 1/4 with TR and 1/4 signed to everyone else.