Why do boxers blow so much money?

[Trainer Monkey]

Of course there are bad managers as well that can act as a catalyst to bankruptcy. Boxing is full of people that take a cut and misinform, and make a very good living doing it.

Thats what I was more or less saying,one guy will do you a total solid,and the other guy will totally jack you up.
Thats why I tell all of my fighters,read the damned contract before you sign a thing,and I want to read it too. You dont read that contract,any contract,your butt will be sitting in the poorhouse wondering what happened.
Youd be amazed how few fighters will even read it before they sign

Even guys that do you solid are getting 20% once on an elite level...and TBH they are entitled to it...Hell mate you work with guys and know how hard it is....I mean hell imagine being the MGR of a guy like Hatton let's say...You could not even handle the job alone.....

Very seldom will you see a mgr taking a tiny bit.....By law they are allowed a 1/3rd of your earnings...though you hardly see anyone taking it it does happen....

You come from welfae up-bringings and you have a guy getting you 1,000,000 dollar paydays...the way these guys see it 700,000 is one hell of a paycheck....

Like I said mate you know how it goes in the sport, and like I said people only see the $$$ amount in the check they do not realize what needs to be paid out.....

And that is without the freeloaders

No kidding on the entitled to part,some fighters Ive got,I wince every time I see their number on my caller ID,because that means Ive probably got to fix something.
And on top of that,OK one of the reasons I stay in the buis,other then the love of the sport,is I want things done honestly and professionally, well believe you me Ive got to hustle constantly to do it. Because for every guy in this buis who's trying to run the show like that,there are thirty guys trying to hit a fast buck. And to not lose fights and fighters,I have to spend alot of my time latched on to a phone and working the pavement.
And trust me,I know HOW,I could arrange that I walk with damn nigh every penny a fighter made off a fight,I have to go over contracts all the time,and there's usually a loophole in there you could drive a truck through. Thats why Im picky with who I deal with.