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Do you actually believe that Kovalev got paid a pesky $2 Million to fight Andre Ward on PPV.
There is something called tax evasion, tax avoidance and money laundering.
All the international fighters, prefer to have a low figure put in the the official purse, in order to prevent getting taxed twice (both in the US and then in their home country).
They receive the bulk of their money in bank accounts in the Ba*****, Cayman Islands, Switzerland etc, or even in brown envelopes! Yes....this still happens.
Do you really think that PBC is burning through money in the quan****** that get posted on this forum?
Hell no! They inflate their liabilities to reduce their tax bill. Also, debt/interest is tax deductible, as well as increasing the value of your company, which is why it makes sense to finance your business on debt, depending on the risk of the business(PBC).
In all businesses, you get paid your Market Value. When players like HBO, SHO, Bob Arum, Al Haymon, Warren, The Hearns etc have been in the business for so long, they pay fighters and make investments on what they are worth.
There is something called tax evasion, tax avoidance and money laundering.
All the international fighters, prefer to have a low figure put in the the official purse, in order to prevent getting taxed twice (both in the US and then in their home country).
They receive the bulk of their money in bank accounts in the Ba*****, Cayman Islands, Switzerland etc, or even in brown envelopes! Yes....this still happens.
Do you really think that PBC is burning through money in the quan****** that get posted on this forum?
Hell no! They inflate their liabilities to reduce their tax bill. Also, debt/interest is tax deductible, as well as increasing the value of your company, which is why it makes sense to finance your business on debt, depending on the risk of the business(PBC).
In all businesses, you get paid your Market Value. When players like HBO, SHO, Bob Arum, Al Haymon, Warren, The Hearns etc have been in the business for so long, they pay fighters and make investments on what they are worth.