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Let's say the boxer get a 250k pay day! How much % goes to taxes, promoter, manager, and trainer? & how much does he actually take home!
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They would be lucky if they take home 45 to 55% of their actual payday, that’s after paying everyone (Taxman/woman, trainer, manager, cutsman/woman,promoter)..... That’s why a lot of them can do with sponsorship (Hublot, energy drink, painting in their backs, trunks, shoes or sole in case they get flattened). -
Even less if you are with the pbc. Don't forget pbc fighters have to pay Al if they get paid to advertise stuff like ducks and chickens or if they get the chance to punch a tampon on TV with a man in it, haymon takes a cut.
We've all seen the pbc contracts that's a moving around the internet. You go the drive through for some chicken nuggets? If you are a pbc fighter you owe Al haymon 3 of those nuggets.Comment
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okay a fighter today got paid $250,000, it starts getting chipped away like so
TAX man takes a cold $45,689.50 + 35% over 200K which = $17,499.65 for a total the tax man takes = $63,189.15
- So after the tax man takes his cut you have left $186,810.85
Time to pay your promoter or advisor and say they takes 15% that = $37,500 (they take as high as 22% too)
- So after the promoter/advisor takes his cut you have left $149,310.85
Time to pay your trainer and their cut is usually 10% so that = $25,000
- So after the trainer takes his cut you have left $124,310.85
So after paying the top 3 MUST (tax,promoter,trainer) you have $124,310.85
Disclaimer this isnt everything, fighters pay their sparring partners, pay their helpers, chef, S&C etc etc etc these people usually get a flat fee.
Also if its a title fight the sanctioning bodies take 3%,
So lets dig deeper, Say its a title fight.
Time to pay the WBC/IBF/WBO etc etc Sanctioning Bodies take 3% which = $7,500
- So after the Sancationing body take their cut youre left with $116,810.85
Time to pay your sparring partners, you bring in 4 pay them each $2,500 = $10,000
- So after paying your sparring partners youre left with $106,810.85
Time to Pay your helpers you have with you at camp, say 1 helper = $4,000
- So after paying your helper youre left with $102,810.85
Time to pay your Chef which say $700/week x8 weeks = $5,600
- So after paying your CHEF you're left with $97,210.85
Time to pay your S&C which lets say is $20,000
- So after paying your S&C you're left with $77,210.85
So After diving deeper the fighter ends up taking home $77,210.85Last edited by .!WAR MIKEY!.; 05-06-2019, 02:46 AM.Comment
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naw under the new tax bill you income is taxed at 2 different rates, for this example of someone making 250K the first 200K is taxed at one rate and the remainder (50K) is taxed at another rate.Originally posted by Curtis Harper View PostComment
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Taxes are high and there's different levels of promotion, management, legal representation. Smart guys that are really making money will pay people to watch the watchers. You can't say there's one formula for calculating this stuff. Some guys are poorly handled and walk away with very little. Others are sharp and maximize their profits. Really depends on what people you've hired, what you're paying them, and how effective they are at what you're paying them to do.
No to mention that boxers are generally not in this game because they're intelligent. The pot gets pilfered often.Comment
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its a hard business thats for sure when you know over 50+% of your pay is gone as soon as you get it.Originally posted by Redd Foxx View PostComment
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as usual you guys have no idea what you're talking about.
you don't pay taxes on the entirety of your purse. only what you take as income. IE you subtract your expenses. managers are not allowed by law to take more than 33%, and that's usually around what they take. trainers typically get 10%, but when fighters get to a higher level they often negotiate. it's only after these expenses, and other training, travel, medical, etc expenses that a fighter takes income, and that income is what is taxed.
fighters do not "pay" their promoters in most instances. fighters are independent contractors working on contract for a promoter. the promoter makes his money by taking in more revenue than he has in expenses. so the promoter gets 2 million in license fees for the fight. he pays the fighters 500K a piece, has expenses for the venue and marketing / promoting the fight. the total revenue, minus the expenses he pays, is his, and he pays taxes on it.
so to answer your question and distill it for you, TS
the big two chunks of money that come out of most fighter's purses are management and training. 30% for the manager and 10% for the trainer, let's say. cutmen usually get 1.5% or a flat fee. sparring partners, hotels, etc. these are all paid by the fighter when he's established. many managers and promoters will sign a young fighter long term and supplement his living and training expenses early in his career. it's an investment. you set the kid up as your fighter and give him what he needs to succeed. and then eventually he's on showtime and fighting for a couple million bucks, and you get 30% of it. cha ching.Comment
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