If he is paying that much in tax, it is even more scandalous that he has to pay that much to Booth.
Printable View
If he is paying that much in tax, it is even more scandalous that he has to pay that much to Booth.
I would love Booth to be in Groves' corner just for the whole showmanship and dramatic effect of it. Of course I can't see it happenng though. :-\
Managers have always made money because they are dealing with people who aren't that bright.
No one is putting a gun to these fighters heads and if they are too simple to go to some advisor to see what their best option is then unless we are going to take time out of our lives to point out where they are going wrong then a good manager is worth their weight in gold to that fighter.
Some fighters have a little bit upstairs and resent the money they are fighting for going in to someone else's pocket. Look at Floyd Mayweather, he's turned himself in to the biggest name in boxing by picking his favoured opponents. I don't think there is anyone out there that can beat him but he could have had a harder time and probably shortened his career.
If a fighters purse is say 1 million they will probably, after all expenses and taxes take home a quarter of that and that is the figure they need in the back of their mind when spending or "investing".
Taking the money off the top is scummy. Groves gets 400k and Booth immediately takes 25%. Then Groves pays 10% to his trainer, training expenses and half the rest in tax. He ends up with 125k. Booth makes almost as much as Groves for doing a job you could pay a lawyer five or ten thousand quid to do.