Kovalev, Pascal heats up | Boxing News | Fightnews
It refers to that at the bottom of this. What a joke.
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Kovalev, Pascal heats up | Boxing News | Fightnews
It refers to that at the bottom of this. What a joke.
So kathy duva is fuckin sergey over hard or she doesn't know how to fuckin negotiate...wtf???
Damn, I hope his worth has increased, the guy is amazing
Doesn't really speak well of Hopkins either??? Its a slap. Guys with half the talent, even less desire and 10 shitty rappers walking them to the ring get handed more for far less.
That's fuck all when you figure he's losing about half of that to tax alone, and then trainer, manager, lawyer, promoter, ect take their chunks, and of course a chunk needs to go towards paying off the living/food expenses you rack up over a 2-3 month period of intense training. That really is disgraceful money, because that was a big fight with a lot of build up. He should have made 10 times that amount.
Well, hbo did a special on him, he probably got a nice chunk of change for that. Still, a screwed up amount for such a big fight. The guy always has a smile on nonetheless.
$500 thousand was Kovalev' purse, but half goes right off the top for taxes.
Trainer's standard rate of 10%.
His manager gets a cut.
He took home $125 thousand, a quarter of his check.
I remember Buster Douglas' interview on Howard Stern.
1.3 million purse.
After taxes and trainer/manager fees, expenses, return airfare to tokyo, hotel fare; he said he took home about 15 grand for knocking out Mike Tyson in the biggest upset in boxing history.
is it fifty percent tax bracket for that kind of money. Seems higher than I thought, when you do well, the government does well.Quote:
Originally Posted by bradlee180
Hopkins didn't have large purses throughout his career either.
You would think for a three belt unification , probably one of the biggest fights of the year, he would have been better paid. Hope the risk pays off for him now and he gets more money.
yeah beating hopkins must give him the potential for big paydays tho now ehQuote:
Originally Posted by Tam Seddon
especially battering him the way he did
This may very from contract to contract but as a ball park answer....
Do the after tax bods take a percentage of what's left after tax, or what's left when it's their turn in the queue?
For example, if Kovolev got 500k, paid say 250k tax he's left with 250k. Does the manager then take his 20-30% or whatever it might be, then the trainer take his 10-15% from what's left, or does the trainer take a 10-15% share of the 250k?
Kovolev has got to be worth 1 - 2 million per fight, if he's not getting that something is wrong. If Kovolev took home 125k from a 500k purse, he's done alright I reckon.
That's promotion for the fight, which is in every fighter's contract to do. He doesn't get paid for that.Quote:
Originally Posted by walrus
It's all based on the % of the main purse. If you make 100k and your manager's take is 20%, that's 20k.Quote:
Originally Posted by Memphis
From what I've read, I believe the manager/promoter usually takes 25% and trainer takes 10%. So let's say 45% is gone to taxes already, that leaves the boxer - the guy who's putting on the show and taking the risks - a 20% cut of the money, or 20k in Kovalev's case. And that's not taking into account any lawyer fees and the expenses incurred during the training camp - feeding a world class athlete for an intense training camp can't be cheap.
It's easy to see why guys get in such big tax trouble. Someone hands you a check for 1 million dollars and you think "oh my god, I'm rich" and you go out and start buying houses and fancy cars and jewelry, and then tax season comes and it's like "oh, by the way, you still owe the government 400k of that. Hope you didn't spend it all."
It can be done however the person chooses. It's in everyone's best interest to take all expenses out first for simplicity. But many fighters don't trust to do it this way. That's why they get into financial problems. They get a check and don't realize how little they keep.Quote:
Originally Posted by Memphis
The smart way to do it if you are making big money is to not pay taxes and pay a settlement. The government is so eager to get a big check they will take a fraction of what you should pay them.
The thing I read said he made 150k after the taxman and everybody else has been paid. He's in line for some proper paydays now that he beat Hopkins but he was ten or fifteen fights into his career and fighting for about five thousand dollars so even if he did make five or six hundred k gross purse for Hopkins (Duva says it was more) he's doing a lot better than he was.Quote:
Originally Posted by Beanflicker
Both fighters fought a good fight Kovalev was too young, strong and better than B Hop. Both can fight again and I hope they get bigger purses after raising their profile with the unification.