Main Events Backs Out Again

[koolkc107]

The WBC has set a new purse bid for May 29th between their light heavyweight titlist, Adonis Stevenson and Sergey Kovalev. Earlier Jake Donovan detailed this situation that saw Main Events pull Kovalev out of a scheduled purse bid between the two sides on April 17th.

So what is the reaction of Main Events to this development?

The head of Main Events, Kathy Duva told BS.com via email:

"I have advised the WBC twice that, while we wish to continue to try to negotiate with the Stevenson camp, Sergey Kovalev will not participate in a purse bid. However, Sergey very much wants the fight to happen. To that end, last week I asked Yvon Michel to meet with me and HBO and make a fair deal based upon a 50/50 split of all the revenue. Thus far, Michel has not responded to that request."

"Sergey is an HBO fighter and he plans to remain with HBO—the number one US network for professional boxing--for the foreseeable future. Reportedly Stevenson, who is coming up on his 38th birthday in September, has no ties to any television network. Therefore, if Adonis truly desires the opportunity to fight for Sergey’s three world championship belts, he must recognize that the only way this fight will take place will be on HBO or through HBO PPV’s distribution network."

"The sooner the Stevenson camp comes to terms with this reality, the sooner we can sit down together, get a deal done, and make the fight that everyone wants to see happen."

http://www.BS.com/main-events- ... bid--90139

[koolkc107]

This is a prime example of Main Events & HBO placing their interests above Sergey Kovalev’s. They wanted to promote and televise the bout on their terms only, but weren’t willing to pay the fighters the purses that Al Haymon’s PBC would have paid (as Kathy Duva persistently refuses to participate in the WBC’s purse bids).

The thing is… Duva harshly criticised the deadline for the initial “quick” purse bid, claiming it as some sort of “stunt”, but now the WBC has extended the deadline by six weeks, she’s still not willing to participate.

Isn’t Egis Klimas employed to look after the best interests of Sergey Kovalev? So what is he doing, other than bowing to Kathy Duva’s instructions?

Sergei is not stupid.

Look for either ME to cave and allow the purse bid or...

Kovalev on a milk carton ala Mickey Garcia

[zorndeslammes]

This is a prime example of Main Events & HBO placing their interests above Sergey Kovalev’s. They wanted to promote and televise the bout on their terms only, but weren’t willing to pay the fighters the purses that Al Haymon’s PBC would have paid (as Kathy Duva persistently refuses to participate in the WBC’s purse bids).

The thing is… Duva harshly criticised the deadline for the initial “quick” purse bid, claiming it as some sort of “stunt”, but now the WBC has extended the deadline by six weeks, she’s still not willing to participate.

Isn’t Egis Klimas employed to look after the best interests of Sergey Kovalev? So what is he doing, other than bowing to Kathy Duva’s instructions?

Sergei is not stupid.

Look for either ME to cave and allow the purse bid or...

Kovalev on a milk carton ala Mickey Garcia

I'm not being funny and nor am I criticising you personally, but your response to my comment doesn't really make any sense to me.

I'm utterly perplexed!

ME = Main Events.

[ikorolev]

This is a prime example of Main Events & HBO placing their interests above Sergey Kovalev’s. They wanted to promote and televise the bout on their terms only, but weren’t willing to pay the fighters the purses that Al Haymon’s PBC would have paid (as Kathy Duva persistently refuses to participate in the WBC’s purse bids).

The thing is… Duva harshly criticised the deadline for the initial “quick” purse bid, claiming it as some sort of “stunt”, but now the WBC has extended the deadline by six weeks, she’s still not willing to participate.

Isn’t Egis Klimas employed to look after the best interests of Sergey Kovalev? So what is he doing, other than bowing to Kathy Duva’s instructions?

Maybe Klimas gets some unofficial cuts from Duva and doesnt want to lose them. Otherwise, why does he allow such relatively low purses ?

[Purse Bid Shakedown]

This is a prime example of Main Events & HBO placing their interests above Sergey Kovalev’s. They wanted to promote and televise the bout on their terms only, but weren’t willing to pay the fighters the purses that Al Haymon’s PBC would have paid (as Kathy Duva persistently refuses to participate in the WBC’s purse bids).

The thing is… Duva harshly criticised the deadline for the initial “quick” purse bid, claiming it as some sort of “stunt”, but now the WBC has extended the deadline by six weeks, she’s still not willing to participate.

Isn’t Egis Klimas employed to look after the best interests of Sergey Kovalev? So what is he doing, other than bowing to Kathy Duva’s instructions?

Maybe Klimas gets some unofficial cuts from Duva and doesnt want to lose them. Otherwise, why does he allow such relatively low purses ?

That's what happens when you don't bring a built in fanbase, you gotta pay your dues. Kovalev did, and his purses have gone up accordingly. Over $3m for his last fight, that's no joke

"Kovalev Went From $5K Purse to $1Million-Plus In 2 Years"

http://www.BS.com/kovalev-went ... ars--83935

[crusader]

So according to some sources Kovalev made $3.25m against Pascal---if that's true I didn't realise he was paid so well.

[Purse Bid Shakedown]

So according to some sources Kovalev made $3.25m against Pascal---if that's true I didn't realise he was being paid so well.

That's not the norm though, it's due to Pascal's large Canadian revenue streams, PPV and tickets sold. They supposedly split $6m. Stevenson seems less popular in Quebec, however that'd be more than offset by the 4 belt unification status, plus Kovalev's higher profile in Canada since the Pascal fight.

[Purse Bid Shakedown]

That's what happens when you don't bring a built in fanbase, you gotta pay your dues. Kovalev did, and his purses have gone up accordingly. Over $3m for his last fight, that's no joke

"Kovalev Went From $5K Purse to $1Million-Plus In 2 Years"

http://www.BS.com/kovalev-went ... ars--83935

The article that you've quoted is inaccurate. It claims that Kovalev earned more than $1m for the Hopkins bout, but Sergey himself and multiple sources claimed that his gross purse for that bout was a mere $500K (and after expenses and tax, his net pay was $125K).

Idec is a reputable reporter from NJ, where the fight took place. Kovalev could well be trying to understate his income for Russian tax purposes. Either way his purse had gone up 100-200 fold in 2 years, then 3m+ next.

[crusader]

The Montreal Gazette reported that both Kovalev and Pascal were to receive purses over $2m, with Kovalev to earn more than Pascal, while I've seen a different Montreal source (https://twitter.com/thatsimbros/status/ ... 9418345472) report than Kovalev was to receive 56% of the money to Pascal's 44%, with Interbox expecting the total money to be over $6 million, in which case Kovalev would make around $3.25m. Regardless of the exact figure, it seems like Kovalev was paid very well for his bout with Pascal.

There's no point in theorising and guessing... Kovalev's purse for the Hopkins bout was only $500K before tax and expenses

Maybe, but here are posts you made earlier (http://boxrec.com/forum/viewtopic.php?f=22&t=187282) that are relevant to Kovalev's earnings:

There’s one important figure missing from Kovalev’s figures… and that’s the percentage commission he receives from the profits received from the event:

• Fight Purse = $500,000
• Tax = $250,000
• Manager & Trainer = $125,000
• Net Payday = $125,000

Also, I’m led to believe that tax isn’t 50% in New Jersey, it’s about 40% (according to multiple sources). I could be wrong, but the stuff I’ve been reading suggests that Sergey is embellishing the tax rate.

If I’m right about the things I say (based on info supplied by multiple sources), Kovalev’s net payday for his fight against Hopkins will eventually be double the sum he’s quoted

Dan Rafael & Fight Hype both report that Sergey Kovalev received a cut from the event profits in addition to his fight purse.

[Purse Bid Shakedown]

There's no point in theorising and guessing... Kovalev's purse for the Hopkins bout was only $500K before tax and expenses.

Are you really claiming that Main Events & HBO are accessories to a tax evasion crime being perpetrated by Sergey Kovalev? You're smarter than that!

And personally-speaking, I can't find any reliable sources to backup the claim that Sergey earned $3.25m for the Pascal fight. I really hope he did... but the figure quoted seems unsubstantiated and overinflated (when reviewing the historical purses earned by both men).

Tax evasion is very common among athletes, or anywhere big money is made. That's why Pac was in trouble recently, why so many athletes move to Monaco. Pascal and Bute had split 2m each, for a non title bout with Pascal's opponent popular, but washed up. That fight also had a much smaller network license fee than Kovalev Pascal.

[koolkc107]

This is a prime example of Main Events & HBO placing their interests above Sergey Kovalev’s. They wanted to promote and televise the bout on their terms only, but weren’t willing to pay the fighters the purses that Al Haymon’s PBC would have paid (as Kathy Duva persistently refuses to participate in the WBC’s purse bids).

The thing is… Duva harshly criticised the deadline for the initial “quick” purse bid, claiming it as some sort of “stunt”, but now the WBC has extended the deadline by six weeks, she’s still not willing to participate.

Isn’t Egis Klimas employed to look after the best interests of Sergey Kovalev? So what is he doing, other than bowing to Kathy Duva’s instructions?

Sergei is not stupid.

Look for either ME to cave and allow the purse bid or...

Kovalev on a milk carton ala Mickey Garcia

I'm not being funny and nor am I criticising you personally, but your response to my comment doesn't really make any sense to me.

I'm utterly perplexed!

HBO and ME have 2 choices.

Put the right money behind Sergei, engage in the purse bids and win them.

Or, allow Kovalev to be free to fight elsewhere within his agreement with HBO

All of Kovalev's big fights are with guys beholden to Al Haymon.

If ME and HBO continue to take the stance that his fights MUST be on HBO, Sergei will find himself not fighting anyone who counts
or means a big payday.

Being the astute man he is, you can bet Kovalev will then do anything he has to to make himself a free agent.

That, or HBO will have to cave in some way.

[koolkc107]

HBO and ME have 2 choices.

Put the right money behind Sergei, engage in the purse bids and win them.

Or, allow Kovalev to be free to fight elsewhere within his agreement with HBO

All of Kovalev's big fights are with guys beholden to Al Haymon.

If ME and HBO continue to take the stance that his fights MUST be on HBO, Sergei will find himself not fighting anyone who counts
or means a big payday.

Being the astute man he is, you can bet Kovalev will then do anything he has to to make himself a free agent.

That, or HBO will have to cave in some way.

Understood! That's crystal clear... and I agree with your theory, apart from Kovalev is contractually-tied to HBO & Main Events, so his options are rather limited (as he's outside Haymon's inner-circle).

Which is why he might wind up like Mikey Garcia...on a milk carton with folks saying they don't know why he isn't fighting when, in truth, the story is right there for anyone to see.

[koolkc107]

Which is why he might wind up like Mikey Garcia...on a milk carton with folks saying they don't know why he isn't fighting when, in truth, the story is right there for anyone to see.

Main Events & HBO will almost certainly use the very same tactics that HBO & Top Rank used against Mayweather Jr. by promoting their own fighter using their rivals name.

They’ll try to convince casual boxing observers by attacking Adonis Stevenson in the media again and again, by arguing that the WBC Canadian champion is “ducking” their man (Sergey Kovalev) in the hope that pure repetition alone will displace the truth.

HBO & Main Events are probably also hoping that fight fans have short-term memories, as they’ll be hopeful that we’ll forget the fact that they refuse to financially back their own man by participating in the WBC’s purse bids.

Kathy Duva will probably be hoping that we’ll also forget the fact that she negotiated Kovalev’s contract renewal with HBO (after the announcement of the WBC purse bid) knowing full-well that it would scupper any hopes of Sergey fighting Adonis Stevenson anytime soon.

I guarantee you that in twelve months’ time, assuming Stevenson & Kovalev are still champions, that many people that use this forum will once again be passionately arguing that Adonis is “ducking” the Russian… and they won’t be able to recollect the "HBO contract extension" or "WBC purse bid" issues.

Wish that was a Vegas Prop bet. We could get rich

[crusader]

The Montreal Gazette reported that both Kovalev and Pascal were to receive purses over $2m, with Kovalev to earn more than Pascal, while I've seen a different Montreal source (https://twitter.com/thatsimbros/status/ ... 9418345472) report than Kovalev was to receive 56% of the money to Pascal's 44%, with Interbox expecting the total money to be over $6 million, in which case Kovalev would make around $3.25m. Regardless of the exact figure, it seems like Kovalev was paid very well for his bout with Pascal.

I really haven’t got a clue who that Simon Simbros character is (your source), but the media sources traditionally considered as "reliable" did not disclose the actual fight purses received by Kovalev & Pascal.

Like I said earlier, I’d be rather pleased if an unheralded and underpaid fighter like Sergey Kovalev did receive a $3.25m payday, but the figures quoted by your source seem rather anomalous to me... and it surprises me that other media outlets don't quote that sum.

This is one of the very few occasions that I’d be utterly delighted if I was proven wrong on this, so please feel free to do so!

There's no point in theorising and guessing... Kovalev's purse for the Hopkins bout was only $500K before tax and expenses

Maybe, but here are posts you made earlier (http://boxrec.com/forum/viewtopic.php?f=22&t=187282) that are relevant to Kovalev's earnings:

I have to be honest, my comments in that seperate thread were about my inability to reconcile the $125K that Kovalev claimed was the sum he received for defeating Bernard Hopkins (the net figure from the $500K gross total)… and we have not received confirmation from Kathy Duva, Sergey Kovalev or any other reliable sources that the Russian was actually paid extra an additional sum from a share of the profits.

To be fair, I was very non-committal about my claim that Kovalev could have also received a profit share one-off payment. I could be right, but then again, "I could be wrong"... and I believe that I actually muttered that phrase in the post you quoted.

Therefore, we can only go with the $500K that was the official figure quoted by Sergey Kovalev, as the Russian himself should be considered as the most reliable source of information.

There's no point in theorising and guessing... Kovalev's purse for the Hopkins bout was only $500K before tax and expenses.

Are you really claiming that Main Events & HBO are accessories to a tax evasion crime being perpetrated by Sergey Kovalev? You're smarter than that!

Tax evasion is very common among athletes, or anywhere big money is made. That's why Pac was in trouble recently, why so many athletes move to Monaco.

Sergey Kovalev has recently uttered multiple racist comments… and if you’re correct in your belief about him also committing tax evasion crimes, then he’s not only a racist but he is also a criminal.

I refuse to be drawn into such extreme speculation, because not only do I have a deep-seated appreciation for Sergey’s fighting style, but I believe that he “generally” carries himself quite well outside the ring (when he doesn't "unintentionally" make the odd racist remark ).

I’d rather live in ignorant bliss than make unfounded accusations about Kovalev being a racist criminal.

The Montreal Gazette is a reliable source for the Quebec boxing scene and they reported that Pascal and Kovalev each were to make over $2m, with Kovalev earning the greater figure. The information from the other source, which is based in Montreal and seems fairly knowledagble about the local scene, is consistent with this, but even if Kovalev made closer to $2m that's still a very nice payday that eclipses nearly every PBC purse, which I mention because you consistently mention how well paid PBC fighters are.

As for Kovalev's money for the fight with Hopkins, like you acknowledged it was reported by credible sources that Kovalev was getting a portion of money other than his set purse. Maybe he didn't, but it makes me wonder why it was so commonly reported, and Kovalev also seems to suggest in his comments about his payment for the fight that 25 percent of his purse would remain after deductions, which leaves open the possibility that he had income from other sources or was to receive it.