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.

[Fenster]

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.

Can you name some fighters you train/manage? I don't recall you ever mentioning a name


(apart from kid thunderpants over the phone )

[DaxxKahn]

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.

Yeah there are loopholes through the ass if you don't read well or know who you deal with....

I remember a few years back there was a guy by me who was throwing a fight card, He had a bunch of local fighters with shabby records or making their debuts.....He was telling everyone though he had a major name on the card.....

He get's in touch with Verno Phillips...(Verno from the area)....Gives Verno a low ball offer (Think it was like $40,000 an insult).....On top of that he had in the contract Verno was responsible for all his own expenses (Though it would have been like 3 days in a hotel but the point you know)....The hidden in the contract he had it where Verno was responsible for a part of the promotion (radio appearences, TV etc) and if the card did not gross a certain amount Verno had to take a cut for the differential.....So if they were expecting 8,000 people and only 2,000 showed up basicall Verno was buying 4,000 tickets lol
\
Crazy shit you see in contracts...Don King was the best at it

[Trainer Monkey]

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.

Can you name some fighters you train/manage? I don't recall you ever mentioning a name


(apart from kid thunderpants over the phone )

Why should I?
If I piss someone off on here,why predispose the person I pissed off on here against my fighter?
Id be bloody freaking stupid to do that now wouldnt I. So Id have to self censor all the time,and other then occasionally using this board to network,I like to have a spot where I can say what I want.
And its bad buissness, I rip on a guy who reads this board,but may not post,and, they know exactly who I am,I can forget getting a fighter booked on one of their promotions.
So sorry,I'll take a pass, on that

[rjj tszyu]

These guys do not make the money everyone thinks...Only the mega stars do...and after all is said and done they do not go home with what you think..

EG- A fighter makes a $1,000,000 payday to challenge for a world title...at the end of the day this is how it gets broken down

$1,000,000
$225,000--Taxes (Appx)
$200,000--Manager (going rate is 20-25% if they are legit but allowed up to 33 1/3 by law and some take all 33 1/13)
$50-$75,000 trainer
$100,000 for people employed at camp, sparring partners, expenses, hotel's etc
$100,000 fee by the sanctioning body to keep the belt.

$225,000
$200,000
$100,000
$100,000
$75,000
-----------
$700,000 Comes to appx leaving a grand total of

$300,000 to the fighter.....

Now remember during this time the mans bills at home need paid rent, car payments, mortgage, credit cards, food, clothes, etc plus if he has children and what ever bills already accumulated

Also that he will not fight again for another 6 months at least....
Add any medical bills from the fight EG- he needs stitches after the fight at the ER, follow up with Dr for removal, any specialist to examine the eye, plastic surgeon, eye doctor and you have another $10,000

By time all is said and done the man has about $50,000-$100,000 dollars left to himself to do with as he wishes....

put some in the bank spend some on a shopping spree, maybe a vacation with the family there goes another $25,000...you have an accountant to do your books that is another 10,000 a year in expenses, to invest it takes time for a return, if the investment does not pan out there is no return.....

Taxes again at the end of the year on house, cars etc (Yes like in Monopoly there is such a thing as a luxery tax)..

The Million is already gone....

Make $2,000,000 double the expenses of taxes trainers, mgrs etc


Not hard at all to see these guys go broke unless they are very wise with their money..they open resturants and such

These are all good points but these questions were aimed more at the Tyson's and Holyfields who were making $15-$20 million a fight minimum not really your fringe title challengers.

[rjj tszyu]

But since they are self employed, don't they get to write off certain expenses that helps to lower taxes paid. So any taxes they pay up front gets reimbursed when tax season rolls around.

Nope,once they sign a management contract,somebody is technically the boss,even when their technically a free runner,the taxes are taken out of their purse for the initial income,just like any other employee,the promoter is employing them.
If they were fighting under cards they were the promoter for,then theyd be self employed.

OK then so Haye and ODLH are self employed despite getting paid off the likes of HBO?

[DaxxKahn]

These guys do not make the money everyone thinks...Only the mega stars do...and after all is said and done they do not go home with what you think..

EG- A fighter makes a $1,000,000 payday to challenge for a world title...at the end of the day this is how it gets broken down

$1,000,000
$225,000--Taxes (Appx)
$200,000--Manager (going rate is 20-25% if they are legit but allowed up to 33 1/3 by law and some take all 33 1/13)
$50-$75,000 trainer
$100,000 for people employed at camp, sparring partners, expenses, hotel's etc
$100,000 fee by the sanctioning body to keep the belt.

$225,000
$200,000
$100,000
$100,000
$75,000
-----------
$700,000 Comes to appx leaving a grand total of

$300,000 to the fighter.....

Now remember during this time the mans bills at home need paid rent, car payments, mortgage, credit cards, food, clothes, etc plus if he has children and what ever bills already accumulated

Also that he will not fight again for another 6 months at least....
Add any medical bills from the fight EG- he needs stitches after the fight at the ER, follow up with Dr for removal, any specialist to examine the eye, plastic surgeon, eye doctor and you have another $10,000

By time all is said and done the man has about $50,000-$100,000 dollars left to himself to do with as he wishes....

put some in the bank spend some on a shopping spree, maybe a vacation with the family there goes another $25,000...you have an accountant to do your books that is another 10,000 a year in expenses, to invest it takes time for a return, if the investment does not pan out there is no return.....

Taxes again at the end of the year on house, cars etc (Yes like in Monopoly there is such a thing as a luxery tax)..

The Million is already gone....

Make $2,000,000 double the expenses of taxes trainers, mgrs etc


Not hard at all to see these guys go broke unless they are very wise with their money..they open resturants and such

These are all good points but these questions were aimed more at the Tyson's and Holyfields who were making $15-$20 million a fight minimum not really your fringe title challengers.

Yeah well most fringe title challengers don't make a million for the challenge but anyhow.......EG- Carlos Baldomir only kept one of the titles when he beat Judah because he could not afford the sanctioning fees....Was more then his purse

With that being said....You sound as if you are being a wise ass and I can tell with the way you are posting....

So I will educate you.....

1. The Million dollar amount I used was simply for math sake to make it an easy example.

2.I see you have no IDEA on what the United States goverment charges on penalties for over due Taxes....The penalty on 25 million can be 10 million alone

3. I also said that you take the amount (Million) and double, triple it etc according on how much the purse is so either way the % comes out the same....yeah I know you will say "But even though if they get $50,000,000 after all is said and done that is still $50,000,000 they blew"

The you have one tax audit....They seize property...you have a $5,000,000 home you still owe $2,000,000 on...they auction it off for $50,000...you have $20,000,000 in taxes owed and $5,000,000 in penalties...That is $25,000,000

well now you only owe,

$24,950,000.

They take the rest from your money in the bank or what ever have you....Not that anyone has 50 mil in savings not even billionaires it is all in asset's

Plus the $3 mil still owed on the house

Taxes due again for the current year

Starting to get the idea?

[DaxxKahn]

But since they are self employed, don't they get to write off certain expenses that helps to lower taxes paid. So any taxes they pay up front gets reimbursed when tax season rolls around.

Nope,once they sign a management contract,somebody is technically the boss,even when their technically a free runner,the taxes are taken out of their purse for the initial income,just like any other employee,the promoter is employing them.
If they were fighting under cards they were the promoter for,then theyd be self employed.

OK then so Haye and ODLH are self employed despite getting paid off the likes of HBO?

Hmmm Lets see

You own a construction company....

You do a job for let's say Wal-Mart

the job is done,
Wal-Mart pays you a check

Are you a Wal-Mart Employee?

[rjj tszyu]

Nope,once they sign a management contract,somebody is technically the boss,even when their technically a free runner,the taxes are taken out of their purse for the initial income,just like any other employee,the promoter is employing them.
If they were fighting under cards they were the promoter for,then theyd be self employed.

OK then so Haye and ODLH are self employed despite getting paid off the likes of HBO?

Hmmm Lets see

You own a construction company....

You do a job for let's say Wal-Mart

the job is done,
Wal-Mart pays you a check

Are you a Wal-Mart Employee?

Forgive me if I'm mistaken here but don't they sign multi-fight contracts with the likes of HBO? So wouldn't that make them sort of employed by them?

And by the SMART ARSE. I wasn't being a wise ass I was genuinely on about the likes of Tyson who went into London and bought I think it was a £5 million watch before the Julius Francis fight and blew his money in these kinds of ways........

[Fenster]

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.

Can you name some fighters you train/manage? I don't recall you ever mentioning a name


(apart from kid thunderpants over the phone )

Why should I?
If I piss someone off on here,why predispose the person I pissed off on here against my fighter?
Id be bloody freaking stupid to do that now wouldnt I. So Id have to self censor all the time,and other then occasionally using this board to network,I like to have a spot where I can say what I want.
And its bad buissness, I rip on a guy who reads this board,but may not post,and, they know exactly who I am,I can forget getting a fighter booked on one of their promotions.
So sorry,I'll take a pass, on that

Are you taking the fucking piss?

Let me get this straight.. on this site you have no problem CONSTANTLY mentioning you're a trainer/manager, right?

You've posted pictures of yourself, talk about your past and current personal life - ALL THE TIME.. but you're now unable to name fighters you train/manage for fear of EXPOSING yourself!?!

Insane.

[Trainer Monkey]

Can you name some fighters you train/manage? I don't recall you ever mentioning a name


(apart from kid thunderpants over the phone )

Why should I?
If I piss someone off on here,why predispose the person I pissed off on here against my fighter?
Id be bloody freaking stupid to do that now wouldnt I. So Id have to self censor all the time,and other then occasionally using this board to network,I like to have a spot where I can say what I want.
And its bad buissness, I rip on a guy who reads this board,but may not post,and, they know exactly who I am,I can forget getting a fighter booked on one of their promotions.
So sorry,I'll take a pass, on that

Are you taking the fucking piss?

Let me get this straight.. on this site you have no problem CONSTANTLY mentioning you're a trainer/manager, right?

You've posted pictures of yourself, talk about your past and current personal life - ALL THE TIME.. but you're now unable to name fighters you train/manage for fear of EXPOSING yourself!?!

Insane.

No,if you knew anything about the buisness,youd know most of it is done over the phone. I dont even see half of the promoters or matchmakers I deal with every day.Hate to break it to you,I rarely if ever even travel to the fights Im involved in.

[Fenster]

Why should I?
If I piss someone off on here,why predispose the person I pissed off on here against my fighter?
Id be bloody freaking stupid to do that now wouldnt I. So Id have to self censor all the time,and other then occasionally using this board to network,I like to have a spot where I can say what I want.
And its bad buissness, I rip on a guy who reads this board,but may not post,and, they know exactly who I am,I can forget getting a fighter booked on one of their promotions.
So sorry,I'll take a pass, on that

Are you taking the fucking piss?

Let me get this straight.. on this site you have no problem CONSTANTLY mentioning you're a trainer/manager, right?

You've posted pictures of yourself, talk about your past and current personal life - ALL THE TIME.. but you're now unable to name fighters you train/manage for fear of EXPOSING yourself!?!

Insane.

No,if you knew anything about the buisness,youd know most of it is done over the phone. I dont even see half of the promoters or matchmakers I deal with every day.

Fuck promoters and matchmakers. I'm talking about YOU!!!

Do you train/manage pro boxers or not?

[Trainer Monkey]

Are you taking the fucking piss?

Let me get this straight.. on this site you have no problem CONSTANTLY mentioning you're a trainer/manager, right?

You've posted pictures of yourself, talk about your past and current personal life - ALL THE TIME.. but you're now unable to name fighters you train/manage for fear of EXPOSING yourself!?!

Insane.

No,if you knew anything about the buisness,youd know most of it is done over the phone. I dont even see half of the promoters or matchmakers I deal with every day.

Fuck promoters and matchmakers. I'm talking about YOU!!!

Do you train/manage pro boxers or not?

Uh duh,and why would I expose any of my fighters to flack from someone like you?
Tell me what it would benefit my fighter?
Id love to hear this

[Fenster]

No,if you knew anything about the buisness,youd know most of it is done over the phone. I dont even see half of the promoters or matchmakers I deal with every day.

Fuck promoters and matchmakers. I'm talking about YOU!!!

Do you train/manage pro boxers or not?

Uh duh,and why would I expose any of my fighters to flack from someone like you?
Tell me what it would benefit my fighter?
Id love to hear this

Why would i give them flak? I dont even know if they EXIST!!!

Listen, i don't care what level they are at (there's no skullduggery at play here).. i just want to know some names, that's all

[Trainer Monkey]

How's it feel to want,no way I give up my names,you dont need to know,and even if I did drop names, youd know very few of them without checking box rec.
Again,what possible benefit is it to me to drop names,other then to prove you wrong? And I cant see a single possible benefits to any of the fighters I work with.
Great,I exposed my fighters,just to prove an obviously hostile person on the internet wrong. Great management skills on my part,maybe I should also encourage them to play in traffic.