Why

[lefty]

Why does there seem to be this feeling that boxers on the world class level particularily world champions should be set up for life once they retire? Dont get me wrong- I don't begrudge the ones that are and boxing is a bloody tough sport but there seems to be this concensus sometimes that that once they should retire it's almost automatic that they should never have to work again. Obviously in reality that isnt the case a lot of the time anyway but yeah I just wondered.

[Mimmy]

I bet there is hardly any Ex-heavyweight in the UK that has retired in good comfort and does not need to do anything. Also it depends on the marketing of the boxer really, getting the public to like them. Bruno for example is proberly one of those who did have lifes comfort but with bad financial nouse im sure he has to watch his pennies. Eubank Sr was a dick with money, he could have been set for life but again no financial sense.

Im friends with an ex British heavyweight title contender fought for a European heavyweight title but now in his 50's in laying drives. Not saying he regrets it but because he was top 5 in the UK at the time didnt make him a million.

Lennox Lewis seems to have been shrewd with money so i expect he is comforable. Lots of ex pugs generally work in Security these days. My Cousins best friend fought for the British featherweight title, only lost 1 fight I think but now is a fireman.

Actually its interesting to know what many of the yesteryear boxers are doing outside the ring to make a living.

[Sklar]

I bet there is hardly any Ex-heavyweight in the UK that has retired in good comfort and does not need to do anything.

The only one we've had in the modern era who was the best in the world retired with a huge fortune. That he was the very best, is not profligate, is a tough negotiator and knows his value are some of the reasons he's one of the exceptions to the rule.

[lefty]

I bet there is hardly any Ex-heavyweight in the UK that has retired in good comfort and does not need to do anything.

The only one we've had in the modern era who was the best in the world retired with a huge fortune. That he was the very best, is not profligate, is a tough negotiator and knows his value are some of the reasons he's one of the exceptions to the rule.

Bit like Wlad i'd imagine.

[Boxerbeetle]

I bet there is hardly any Ex-heavyweight in the UK that has retired in good comfort and does not need to do anything.

The only one we've had in the modern era who was the best in the world retired with a huge fortune. That he was the very best, is not profligate, is a tough negotiator and knows his value are some of the reasons he's one of the exceptions to the rule.

He also had the good sense to avoid Don King & FW.

[Sklar]

Yep. Too many dummies fell for Don's bag of cash, name on the dotted line routine. Every one of those ended up with less than they could've done had they removed their ghetto specs when they saw him coming.

[Broomhall]

world class athletes in many sports earn enough to be able to "retire". Boxers should be no different, but so much depends on your marketability. You get paid what you are worth to the TV companies/public. That is why they are so easily tapped up. If you are getting 10k a fight and someone says they can get you 20k it is hard not to listen.

I think many people would be shocked to see how much or rather how little the majority of world champions make for each fight. Most end up broke because

A) they are boxers not businessmen
B) often have low levels of education
C) wives and children to support a la Holyfield.

It isnt just boxers, I read somewhere that 1/3 of premiership footballers go bust within 5 years

[lefty]

world class athletes in many sports earn enough to be able to "retire". Boxers should be no different, but so much depends on your marketability. You get paid what you are worth to the TV companies/public. That is why they are so easily tapped up. If you are getting 10k a fight and someone says they can get you 20k it is hard not to listen.

I think many people would be shocked to see how much or rather how little the majority of world champions make for each fight. Most end up broke because

A) they are boxers not businessmen
B) often have low levels of education
C) wives and children to support a la Holyfield.

It isnt just boxers, I read somewhere that 1/3 of premiership footballers go bust within 5 years

Well I should of specified professional sports generally. I dont think it should be a given that because you're good at sports that it should mean that you never have to work again retiring in your early 30's or something. Dont get me wrong, fairplay to the ones that do but I dont see why it's almost seen as being a given that it should be the case.

[Mimmy]

world class athletes in many sports earn enough to be able to "retire". Boxers should be no different, but so much depends on your marketability. You get paid what you are worth to the TV companies/public. That is why they are so easily tapped up. If you are getting 10k a fight and someone says they can get you 20k it is hard not to listen.

I think many people would be shocked to see how much or rather how little the majority of world champions make for each fight. Most end up broke because

A) they are boxers not businessmen
B) often have low levels of education
C) wives and children to support a la Holyfield.

It isnt just boxers, I read somewhere that 1/3 of premiership footballers go bust within 5 years

Good point Broom, I wouldnt imagine there are many sporting personalities that go to any education training on how to look after the pennies. Most do daft things, buy stupid bits of property thinking that its there retirement fund, that property needs money money money on it so its a bad investment.

As ive previously said my cousins best mate fought for the British title only lost one fight but does not live in a mansion, the money is simply not there unless as you say have market appeal.

Can you imagine Derek Chisora advertisng Old Spice? It wouldnt sell because for 1 he has no sex appeal and hes not a house hold common name, or appealing for that matter. Bruno was sold correctly the public loved him and would proberly buy anything he advertised. Lennox Lewis again is proberly well off but does not have the public appeal that Bruno had so advertisers would only go with him a week after winning the belt while the public still were thinking about him. Bruno is still in the public eye for one reason or another but the public still love him.

Yes, indeed its all in the marketing appeal

[Mimmy]

world class athletes in many sports earn enough to be able to "retire". Boxers should be no different, but so much depends on your marketability. You get paid what you are worth to the TV companies/public. That is why they are so easily tapped up. If you are getting 10k a fight and someone says they can get you 20k it is hard not to listen.

I think many people would be shocked to see how much or rather how little the majority of world champions make for each fight. Most end up broke because

A) they are boxers not businessmen
B) often have low levels of education
C) wives and children to support a la Holyfield.

It isnt just boxers, I read somewhere that 1/3 of premiership footballers go bust within 5 years

Well I should of specified professional sports generally. I dont think it should be a given that because you're good at sports that it should mean that you never have to work again retiring in your early 30's or something. Dont get me wrong, fairplay to the ones that do but I dont see why it's almost seen as being a given that it should be the case.

I think I can only ever remember Eubank saying he didnt like the sport it was his way of making it rich, apart from him I cant think of anyone else who have publicly said im in it for the money until im 30 then sit back and watch the world go by.

[lefty]

world class athletes in many sports earn enough to be able to "retire". Boxers should be no different, but so much depends on your marketability. You get paid what you are worth to the TV companies/public. That is why they are so easily tapped up. If you are getting 10k a fight and someone says they can get you 20k it is hard not to listen.

I think many people would be shocked to see how much or rather how little the majority of world champions make for each fight. Most end up broke because

A) they are boxers not businessmen
B) often have low levels of education
C) wives and children to support a la Holyfield.

It isnt just boxers, I read somewhere that 1/3 of premiership footballers go bust within 5 years

Good point Broom, I wouldnt imagine there are many sporting personalities that go to any education training on how to look after the pennies. Most do daft things, buy stupid bits of property thinking that its there retirement fund, that property needs money money money on it so its a bad investment.

As ive previously said my cousins best mate fought for the British title only lost one fight but does not live in a mansion, the money is simply not there unless as you say have market appeal.

Can you imagine Derek Chisora advertisng Old Spice? It wouldnt sell because for 1 he has no sex appeal and hes not a house hold common name, or appealing for that matter. Bruno was sold correctly the public loved him and would proberly buy anything he advertised. Lennox Lewis again is proberly well off but does not have the public appeal that Bruno had so advertisers would only go with him a week after winning the belt while the public still were thinking about him. Bruno is still in the public eye for one reason or another but the public still love him.

Yes, indeed its all in the marketing appeal

Well property is a good investment depending obviously on the property you buy and what condition you buy it in and at what price. Also the housing market at the time of purchase is important aswell.

[liamlion]

I think quite a big issue is the fact that the fighter is self employed as opposed to employed.

The boxer therefore gets his purse gross of tax and will need to tuck away his tax money and not fall into temptation and spend it. You need to be disciplined and thats where a lack of education/intelligence can be costly.

A big tax bill has caught out many boxers/musicians/actors in the past.

[littlepug]

My manager when I was pro also managed tom Collins the lightheavy, he told me toms wife took every single purse from his fights off him, she saved up enough to buy a big house (saw it once very affluent area) and invested the rest in all kinds of stuff, she basically set them up for life. On the other hand sure I read somewhere that Paul Hodkinson works on the railways, no shame in that just goes to show that in boxing you can reach the top but it doesn't garrantee financial security.

[Counter-puncher]

I bet there is hardly any Ex-heavyweight in the UK that has retired in good comfort and does not need to do anything.

The only one we've had in the modern era who was the best in the world retired with a huge fortune. That he was the very best, is not profligate, is a tough negotiator and knows his value are some of the reasons he's one of the exceptions to the rule.

Bit like Wlad i'd imagine.

nicely put, sklar, and yes, a description that fits the klits pretty well

[bripez]

I read last week that Sol Cambell has put his house up for sale for £25 mill (just a few weeks after he was moaning about the rate of tax in this country).

I don't know what other assets he has but I imagine that only Lennox would have earned that kind of dough.

[The Law]

Naseem Hamed successfully invested a lot in property and is reported to be worth between £30-£70 million (yes there are no official figures but he has done very well for himself! )

[Mimmy]

Naseem Hamed successfully invested a lot in property and is reported to be worth between £30-£70 million (yes there are no official figures but he has done very well for himself! )

There will be more boxers broke than rich. Im also quite sure that there will be lots who have had to sell all their boxing attire too. Calzaghe, Hamed (as you say) Lewis to name 3 most likely have been very wise, but lots havent been and are now on the bread line or broke.

[mickey1975]

Bruno still works hard. He's a constant on the dinner circuit.

[mickey1975]

Bruno still works hard. He's a constant on the dinner circuit.

I got quoted around 4-5k to have him on one of my shows so not a bad job he's got there

That sounds a bit steep to he honest. He's doing Henry's gym next month and I can't see him being on that.

[stevedoc]

i do think if you've managed to become a world champ especialy a british world champ you should be able to get by after without having to work ,by this i mean just say you were ricky burns now i don't think ricky would of had say 1/2 mill purses but i would of thought maybe £150,000 a few times i might be completely wrong just a guess ,now £500,000 won't last for ever but if you invest it in property to rent out then he should have a decent lifestyle not a lavish lifestyle but more like a decent pension .
having said that many fighters just don't think like that just as many office workers don't

[bripez]

i do think if you've managed to become a world champ especialy a british world champ you should be able to get by after without having to work ,by this i mean just say you were ricky burns now i don't think ricky would of had say 1/2 mill purses but i would of thought maybe £150,000 a few times i might be completely wrong just a guess ,now £500,000 won't last for ever but if you invest it in property to rent out then he should have a decent lifestyle not a lavish lifestyle but more like a decent pension .
having said that many fighters just don't think like that just as many office workers don't

The likes of Ricky Burns might have been getting say £50k a fight - after all exes, manager, trainer, tax etc. he probably end up with about half of that - £25k a fight 4 times a year is £100k a year after tax.

3 or 4 years of that and he should be able to buy a house mortgage free, but he would still have to work.


*Note : the above does not consider legal fees etc. which are required and could wipe him out - no worries, I am sure his new promoter will look after him ..... *

[mickey1975]

Burns will have been on a lot more than that, gross, for a good few fights.

[expe]

Burns total career earnings were quoted as £750k when he left Warren, once his earnings from his 5 fights with Matchroom are taken into consideration, that will be well over £1 million, however that's without deductions being taken into account.

[SamWise72]

Can you imagine if Lewis had Bruno's likeability, or Bruno had Lewis's talent? That combination could set all of us up for life!

[bripez]

Can you imagine if Lewis had Bruno's likeability, or Bruno had Lewis's talent? That combination could set all of us up for life!

Matthew Ellis - "the first billion dollar boxer"

Seriously though, imagine hearing that and then ending up on the door of Wetherspoons in Blackpool or whatever he is doing?