Hyde: Rigo Destroyed Own Career..."Turned Down Many Multi-Million Dollar Offers"

[killakali]

That leaves the question, is it his choice to stay with Caribe, or did he signed a contract with them that doesn't allow him to get out of the contract? You have to think, the guy wants to get out of Caribe, they do absolutely nothing, at all. They are like an invisible promotional company. They're imaginary. So it would be interesting to hear Rigondeaux's current take on Caribe, if he wants to leave, cant leave, or what is it.

I get they helped him defect and he's forever indebted.

[-PBP-]

I think promoters get paid a percentage of purse if they put him on another promoters card. So Caribe will take a percentage of any Rigo purse since they do not actually promote, but TR would not take a percentage when they put Rigo on the card.

This would be b/c if a promoter is putting on the card, taking a percentage is effectively just paying the guy less. You might as well just pay him less. But if a promoter puts you on another card, he isn't making a penny unless he takes a cut of your purse.

KEYWORDS: I THINK. But I'm usually right

That could be what Gary Hyde meant. That they get 20% on top of what Rigo gets as opposed to a deduction from his purse.

Regardless it's still less money in Rigo's pocket whether it's in the form of a lower purse or fees deducted from his purse.

[killakali]

Okay so not for each fight, just $1.8mill overall.

That still leaves the question...Caribe takes 20% of $1.8million right away. So that's $360k. So that leaves 1.4mill divided by 3 fights, $480,000 per fight, minus taxes, promoter fees, manager fees, corner fees, snctioning fees. That leaves Rigondeaux with....just above $100k per fight?

I am tired, my math could be off, I worked from 8AM to 9PM yesterday two shifts, then this morning took a math exam, so someone aide me in this math ****. I'm disoriented.

why do u figure taxes in there? That's like if you have a 80k a year job you don't say I make 80k a year but after tax, medical insurance disability, social security, etc I only make 40k.

Sanctioning fee is 3% sometimes promoters pay them.

this guy had a manager and an adviser and caribe really is just a glorified manager. Too many hands in the pot which is his own fault.

[DoktorSleepless]

You speculating about his lawyers being idiots is no different than me speculating that the promoter is being paid something. A mam with a law degree doesn't know the difference between gross purse and total revenues generated?

Lawyer's throw shit at the wall until something sticks all the time. They throw it knowing it's shit. That part was dismissed for good reason because it was shit.

I see Haymon being paid 15% and Caribe being paid 20% so iii wouldn't surprise me if other promoters are getting paid in some manner.

Haymon is an advisor and a manager. That's a completely different situation from promoters. Managers/advisors do in fact contractually get a specific percentage from a fighter's purse.

I don't know about how Caribbe gets paid. But the promoter that actually guarantees the purse (not Caribe) does not get a cut. And that's the promoter OnePunch was talking about when he specifically bolded Kev's quote

$1.8million over 3 fights. Caribe takes 20%, his promoter takes the usual promoter cut of 27%, his manager takes a cut as well, usually 10-15%, his corner takes a cut, then of course, good ol taxes. That's where I got the math.

But you know in NSB, if a fighter gets $1.8 million, he gets $1.8 million.

promoters do not take a "cut", except in limited instances where they lose a purse bid. Its in the Ali Act.

And before you cite it as "well known", 20 morons on a message board saying Top Rank takes 27% of Pac purses doesnt make that a FACT.

I think promoters get paid a percentage of purse if they put him on another promoters card. So Caribe will take a percentage of any Rigo purse since they do not actually promote, but TR would not take a percentage when they put Rigo on the card.

This would be b/c if a promoter is putting on the card, taking a percentage is effectively just paying the guy less. You might as well just pay him less. But if a promoter puts you on another card, he isn't making a penny unless he takes a cut of your purse.

KEYWORDS: I THINK. But I'm usually right

Okay, this probably explains why Caribe gets paid the way they get paid. Good post. Pretty much exactly the same situation when another promoter wins a purse bid.

But yeah, this whole thing was about people calculating Rigo's take home pay by deducting a percentage from the main promoter. That's wrong as OnePunch tried to explain.

[-Kev-]

why do u figure taxes in there? That's like if you have a 80k a year job you don't say I make 80k a year but after tax, medical insurance disability, social security, etc I only make 40k.

Sanctioning fee is 3% sometimes promoters pay them.

this guy had a manager and an adviser and caribe really is just a glorified manager. Too many hands in the pot which is his own fault.

Because peole love mentioning these big numbers as if the fighter is going to see everything.

[-PBP-]

Lawyer's throw shit at the wall until something sticks all the time. They throw it knowing it's shit. That part was dismissed for good reason because it was shit.


Haymon is an advisor and a manager. That's a completely different situation from promoters. Managers/advisors do in fact contractually get a specific percentage from a fighter's purse.

I don't know about how Caribbe gets paid. But the promoter that actually guarantees the purse (not Caribe) does not get a cut. And that's the promoter OnePunch was talking about when he specifically bolded Kev's quote




Okay, this probably explains why Caribe gets paid the way they get paid. Good post. Pretty much exactly the same situation when another promoter wins a purse bid.

But yeah, this whole thing was about people calculating Rigo's take home pay by deducting a percentage from two promoters. That's wrong as OnePunch tried to explain.

What did it say about the 6th cause of action because that's where the lack of disclosures and compensation issue was discussed?

This article only strikes 1-3 unless I'm reading that wrong.

[OnePunch]

I think promoters get paid a percentage of purse if they put him on another promoters card. So Caribe will take a percentage of any Rigo purse since they do not actually promote, but TR would not take a percentage when they put Rigo on the card.

This would be b/c if a promoter is putting on the card, taking a percentage is effectively just paying the guy less. You might as well just pay him less. But if a promoter puts you on another card, he isn't making a penny unless he takes a cut of your purse.

KEYWORDS: I THINK. But I'm usually right

In instances of losing a purse bid, you are correct. Most other times though when putting a fighter on someone elses card, the promoter will simply utilize whats called a "provision of services" agreement, which is executed between the 2 promoters. Basically it just means he is providing the services of the fighter to the other promoter, in exchange for xxx number of dollars.

And due to an incident not to long ago, I guarantee you every promoter re-drew their provision of services agreements. One of Kings fighters, maybe Cunningham, I cant remember, failed a pre-fight drug test and the fight got scrapped. The other promoter sued King for breach, because ultimately King did not "provide the services" of that fighter. I'd bet dinner that after that every promoter added a clause that insulates them in the event of a failed test lol

[DoktorSleepless]

What did it say about the 6th cause of action because that's where the lack of disclosures and compensation issue was discussed?

This article only strikes 1-3 unless I'm reading that wrong.

I guess the other parts are still up for debate in court. But paragraph 48 was part of what was dismissed.

[khal-d]

In instances of losing a purse bid, you are correct. Most other times though when putting a fighter on someone elses card, the promoter will simply utilize whats called a "provision of services" agreement. Basically it just means he is providing the services of the fighter to the other promoter, in exchange for xxx number of dollars.

So instead of a percentage of purse, it would basically be a separate agreement with the promoter where they get paid x amount?

Sounds like they could get away with even more in these situations.

[-Kev-]

OnePunch why don't you tell us how much promoter's make from a boxer's purse? More thn 20 "morons" have said the same thing, including boxing promoters and managers.