BoxRec

Bandit wrote:He pays tax on what is left after all deduction, anything from trainers fee to hand tape.

100% Correct every expense like travel,trainers fees equipment etc is Tax deductible as long as he keeps all receipts and proper records etc coz if he doesnt it is just plain stupidity, all of this is explained to all applicant boxers when they appear before an Area Council to apply for their Licence but of course not all of them listen to the advice which is given to them and then problems start with HMRC sometimes after they have retired

As well as equipment. Sparring partners. Everything can be claimed for!

Bandit wrote:As well as equipment. Sparring partners. Everything can be claimed for!

Correct mate

stevegoodwin wrote:

wrimc wrote:Well can somebody explain how Eddie Hearn makes his money from the Brook Alexander bill when he isnt promoting it and isnt Brooks managers? (I dont know if he is Brook managers as well or not but lets say he isnt) He has put all the money and risk forward to get Brook into that position and now that he gets there he doesnt get a share of the profits. I think this is unlikely? Im sure HBO will be compensating Hearn in some form. Please correct me if I am wrong

I am told that several high profile promoters have clauses that they receive 25% of a boxers purse should they fight on another show. It is entirely possible that Matchroom could be recouping their investment by taking up to 25% of Kell's purse. I do not have a clue as to their paticular arrangement but am aware of many instances before where this has happened with other promoters

There is no way any of my boxers would ever be the subject of such a clause. Purse bids won by 'rival' promoters are often the way a champion, or challenger can really earn good money. I take the view that if a promoter submits a bid that fails to secure his right to stage a contest, then that is unfortunate, but my boxer should not be penalised for it.

From memory, Jim Watt hit the jackpot when Harry Levine failed to secure the Watt - Arguello fight, which was bid for and won by a foreign businessman with little or no experience of this type of thing.. Who bid way over the odds...

metchampion wrote:

stevegoodwin wrote:

wrimc wrote:Well can somebody explain how Eddie Hearn makes his money from the Brook Alexander bill when he isnt promoting it and isnt Brooks managers? (I dont know if he is Brook managers as well or not but lets say he isnt) He has put all the money and risk forward to get Brook into that position and now that he gets there he doesnt get a share of the profits. I think this is unlikely? Im sure HBO will be compensating Hearn in some form. Please correct me if I am wrong

I am told that several high profile promoters have clauses that they receive 25% of a boxers purse should they fight on another show. It is entirely possible that Matchroom could be recouping their investment by taking up to 25% of Kell's purse. I do not have a clue as to their paticular arrangement but am aware of many instances before where this has happened with other promoters

There is no way any of my boxers would ever be the subject of such a clause. Purse bids won by 'rival' promoters are often the way a champion, or challenger can really earn good money. I take the view that if a promoter submits a bid that fails to secure his right to stage a contest, then that is unfortunate, but my boxer should not be penalised for it.

From memory, Jim Watt hit the jackpot when Harry Levine failed to secure the Watt - Arguello fight, which was bid for and won by a foreign businessman with little or no experience of this type of thing.. Who bid way over the odds...

Whats your position in the sport mate promoter, manager, trainer?

Hello Mate, I hold a managers and seconds licence.

metchampion wrote:Hello Mate, I hold a managers and seconds licence.

And I must say obviously a very good manager who knows his stuff

It's a recession so who knows. I bet some promoters do buy ons. Some may charge for tickets then you get a % if you sell a certain amount

Some fighters have their wives as their manager. Initially I thought it was a bit odd, but it's a very good way of ensuring that your manager is on your side.

keithmoonhangover wrote:Some fighters have their wives as their manager. Initially I thought it was a bit odd, but it's a very good way of ensuring that your manager is on your side.

Here's one to consider..... Your manager is entitled to 25% of your boxing related earnings - after the usual expenses... Then you pay tax on what's left.. The remainder is yours to do with as you please.

Then you divorce and 50/50 is what the courts view as a staring point for division of assets..... Imagine that... 25% of your earnings before tax, then 50% of what'a left if it goes wrong indoors.......

How long before a promoter offers to Promote, manage & then marry their boxer?

Then the promoter can make profit on the shows he / she promotes that the boxer appears on, they then charge you 25% to box on another show, if you sign to say they can...then deduct 25% of your net purses, then Divorce you when you're finished and take 50% of what's left!!!

metchampion wrote:

keithmoonhangover wrote:Some fighters have their wives as their manager. Initially I thought it was a bit odd, but it's a very good way of ensuring that your manager is on your side.

Here's one to consider..... Your manager is entitled to 25% of your boxing related earnings - after the usual expenses... Then you pay tax on what's left.. The remainder is yours to do with as you please.

Then you divorce and 50/50 is what the courts view as a staring point for division of assets..... Imagine that... 25% of your earnings before tax, then 50% of what'a left if it goes wrong indoors.......

How long before a promoter offers to Promote, manage & then marry their boxer?

Then the promoter can make profit on the shows he / she promotes that the boxer appears on, they then charge you 25% to box on another show, if you sign to say they can...then deduct 25% of your net purses, then Divorce you when you're finished and take 50% of what's left!!!