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Old 10-13-2018, 12:47 AM #21
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Originally Posted by Dontae She'marc View Post
How is that legal, if you don't mind my asking?
Creative accounting is an art. Every major business uses creative accounting to minimize liabilities. Multi million dollar athletes are no different.

So there are a million ways to manipulate the purse. I'll give you some basic examples. Let's say fighter X is guaranteed $5 million per fight by his promoter. His promoter can pay fighter X $2 million to fight and $3 million to be hired as a spokesman to help market the fight. Thus the commission and sanctioning body, as well as possibly his trainer, are only getting a percentage of his "purse" of $2 million, while having no claim on his $3 million "marketing agreement."

Or, promoter pays $5 million to a shell company owned by fighter X to make fighter X available for the fight. Fighter X than pays himself $2 million to be hired by his own company to fight, thus making $2 million his "purse" while the other $3 million is corporate income, which you can then write off all sorts of expenses, not to mention be taxed at the lower corporate tax rate.

I can give you a million examples, but some of them are a little more borderline in terms of legality, so I'll just give you one more safe one since the game is to be sold, not to be told.

Promoter has the fighter "co-promote" the event. He's still essentially guaranteed $5 million, but you file $2 million as the purse. Then in the co-promotion agreement, the company of fighter X is entitled to the first $3 million of income from the promotion. So the fighter is taking no risk, but that $3 million is coming in as promotional income, and the fighter can even write off a bunch of bogus expenses from the promotion of the event.

These are just some very basic examples, but you get the idea.
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Old 10-13-2018, 12:47 AM #22
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Originally Posted by WBC WBA IBF View Post
You're responding to a thread that clearly exposes that filed purses are bogus, and posting a bogus filed purse as fact. Do you see how stupid that makes you look?
You mean Crawford will make more than $3.625 m. I see.
Any estimate how much more Terence will make?
Will it total $5-10 M?
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Old 10-13-2018, 12:49 AM #23
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Originally Posted by genrick View Post
You mean Crawford will make more than $3.625 m. I see.
Any estimate how much more Terence will make?
Will it total $5-10 M?
hahahahaah you ****ing moron. the thread clearly states his filed purse is TWO MILLION, even though he's really making 3.625 million.
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Old 10-13-2018, 01:03 AM #24
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Originally Posted by genrick View Post
You mean Crawford will make more than $3.625 m. I see.
Any estimate how much more Terence will make?
Will it total $5-10 M?
Do you support Bob Arum overpaying his fighters to be in mismatches?
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Old 10-13-2018, 01:07 AM #25
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Originally Posted by WBC WBA IBF View Post
hahahahaah you ****ing moron. the thread clearly states his filed purse is TWO MILLION, even though he's really making 3.625 million.
And why are you so defensive when it comes to purses?
The sample in this thread just proves it won't even double the filed one.
Yet you always make it sound as if Wilder makes 3x his filed purse.
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Old 10-13-2018, 01:11 AM #26
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Originally Posted by genrick View Post
And why are you so defensive when it comes to purses?
The sample in this thread just proves it won't even double the filed one.
Yet you always make it sound as if Wilder makes 3x his filed purse.
Haymon fighters are more blatant than Top Rank fighters because Top Rank is a promotional company and Haymon is a manager. Haymon has a fiduciary duty to help fighters protect their money, Top Rank doesn't.

I've said the economics of the Wilder-Ortiz fight indicate Wilder likely made somewhere between 4 and 5 million. That not 3x his filed purse. I've never ever said 3x his filed purses. You're lying.
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Old 10-13-2018, 01:45 AM #27
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Hearn is wondering to himself, "is this even legal?" So Bud is making damn near DOUBLE the reported purse. This is something Hearn didn't take into consideration when going after the PBC fighters.

Crawford got himself one hell of a deal. Getting paid almost $4 million to fight Benavidez? Sheesh, he's going to want at least $6-8 or so million to fight someone like Spence. No wonder Arum keeps saying that fight only happens when it does 500k buys.

As for why the guaranteed purse is less than the reported purse? Remember, Crawford as the champion has to pay sanctioning fees from his purse. If he reports a bigger purse, then a bigger cut gets taken from him. I wonder how it works with trainer fees. If he gives 10% of his purse to his trainer, is he only giving 200k here instead of 360k?
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Old 10-13-2018, 01:49 AM #28
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Originally Posted by WBC WBA IBF View Post
Creative accounting is an art. Every major business uses creative accounting to minimize liabilities. Multi million dollar athletes are no different.

So there are a million ways to manipulate the purse. I'll give you some basic examples. Let's say fighter X is guaranteed $5 million per fight by his promoter. His promoter can pay fighter X $2 million to fight and $3 million to be hired as a spokesman to help market the fight. Thus the commission and sanctioning body, as well as possibly his trainer, are only getting a percentage of his "purse" of $2 million, while having no claim on his $3 million "marketing agreement."

Or, promoter pays $5 million to a shell company owned by fighter X to make fighter X available for the fight. Fighter X than pays himself $2 million to be hired by his own company to fight, thus making $2 million his "purse" while the other $3 million is corporate income, which you can then write off all sorts of expenses, not to mention be taxed at the lower corporate tax rate.

I can give you a million examples, but some of them are a little more borderline in terms of legality, so I'll just give you one more safe one since the game is to be sold, not to be told.

Promoter has the fighter "co-promote" the event. He's still essentially guaranteed $5 million, but you file $2 million as the purse. Then in the co-promotion agreement, the company of fighter X is entitled to the first $3 million of income from the promotion. So the fighter is taking no risk, but that $3 million is coming in as promotional income, and the fighter can even write off a bunch of bogus expenses from the promotion of the event.

These are just some very basic examples, but you get the idea.
Should have read your post beforehand. So you touch on some of the things I said and asked.

The co-promotion unfortunately doesn't happen with nearly as many fighters as it should. Happens a lot with Haymon fighters but that's because he hires promoters on card by card basis and he maximizes the revenue for his fighters.
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Old 10-13-2018, 02:04 AM #29
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You guys got it all wrong. ESPN is paying him 2 million. Arum topped it up to make it 3.6 million. And the +app topped it yet again to make it a respectable 175 million dollar purse.
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Old 10-13-2018, 02:10 AM #30
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Yup, and people wonder why he's with Top Rank.

Well... when you get to fight Horn, Benavidez and likely Kavaliuskas and you're getting $3M + per fight, why go anywhere else?

Reminder that Shawn Porter vs. Danny Garcia, one of the biggest WW fights of the year, each only got $1M to beat each other up.

Crawford is getting $3.6M for a tuneup.
Wouldn't be too sure about that :>
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