Boxers need a pension plan 401k or Something

By Boxing News - 04/05/2011 - Comments

By Robert Elmore: Fighters put the time in to prepare for a fight mentally and physically. They put their families aside as well as their life on the line every time they step in that squared ring. Sometimes the end result can be deadly. They suffer brain damage, external and internal injuries and for what? Our entertainment. The way I see it; boxing needs some type of system that can help fighters with medical bills and issue checks once they hang up the gloves. It’s only fair. Where would they get the means to start this? Let’s start with the promoters.

For the small to midsize promoters, they may not be that big financially, but I still think they can take a fixed percentage of a fighters’ purse, even if it’s a small one, and put it aside. As the fights and the purses grow, so does the percentage. For the big boys Like Top Rank and Golden Boy, they can do a little bit more. Although Arum is riding the Pac Train, he still has managed to keep things running at a high rate especially with most of the matches being in house. Golden Boy doesn’t have a cash cow right now outside doing business with Floyd Mayweather. Still they make more than enough money to contribute to the fund.

The Alphabet Soup can definitely contribute to this fund. What used to be the big three; IBF, WBC and WBA has evolved into multiple belts. They have been very quick to sanction bouts and come up with new diamonds belts and so forth to bring in more money. Only God knows what they are doing with the money. One thing is for sure the fighters aren’t seeing any of that cash. Who could blame fighters these days trying to bypass title fights? They rather keep the cash in their pockets. In 2006, Zab Judah forked over his titles because of the sanctioning fees. And recently Tim Bradley just added the IBF to his waist so he’s probably paying a pretty penny. Again, take a percentage of that money and put it aside for the fighter.

The fighters themselves have more than enough power to help as well. I have come to understand that every fighter is not going to become a promoter during or after their careers. But while they are in the game, they should take a more active role in their career. Ray Robinson did this at one point in his career. He usually touched every part of the fight money wise. It seemed he retired okay, but later on returned to the ring because of financial woes caused by him. (Source: His autobiography; can’t remember the name). Evander Holyfield is still fighting today presumably because of money problems. It hurts me to see this cause he was making more than enough money to retire comfortably. The only manager that I know of to take an active role in putting money aside for their fighter was Cus D’Mato , Jim Jacobs, and Bill Caton. This was done for Tyson. Money was put into a fund and at the end of every year, no less than $250,000 would be in the bank. Tyson ended using that money in his rape case in 91.

FACETIME: Bottom line, these fighters have families to take care of, bills to pay, and other basic necessities. Most fighters fight until they are beat up and can’t talk. These fighters should be compensated in more ways than one. Sure, they might get inducted into the Hall of Fame, but to me it’s not enough. Some of my favorite fighters today not in good shape. Watching Legendary Night; Chavez-Taylor, I had to gather myself when Taylor was trying to talk. It was sad. And what about the boxers who are deceased? Their families should be compensated. If nothing else it says “This is blood sweat and tears your husband gave to the game. We know it compare to what he did. But we just want to say thanks”.



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