Spence’s purse $3.5M for next fight

By Boxing News - 10/12/2017 - Comments

Image: Spence’s purse $3.5M for next fight

By Allan Fox: IBF welterweight champion Errol Spence Jr. (22-0, 19 KOs) is promised a purse of $3.5 million for his next fight in December or January, according to Dan Rafael. Spence, 27, is getting that money from his manager Al Haymon, says Rafael, and he’ll likely be facing #5 IBF Lamont Peterson (35-3, 17 KOs) on December 17 or in January.

Peterson, 33, makes the most sense for Spence to fight, as he is with Haymon and he’s also ranked in the top 5 with the International Boxing Federation.

Spence has a lot of promoters trying to sign him right now, since he’s not signed to a promoter yet. He’s working with Haymon, but he’s not with any of the big promoters. Spence was one of fighters that turned down a fight against WBO junior middleweight champion Miguel Cotto for December 2 on HBO Championship Boxing. A win over Cotto would have made Spence a star, but he would have involved him being signed to Golden Boy in a long term deal.

”The fight would have been part of a longer term agreement,” said Rafael about Spence turning down the Cotto fight due to it meaning he would have been signed to Golden Boy as part of taking the fight. “Several promoters are after Spence. In fact, if you had a draft of every Haymon fighter not signed to promoter Spence would without question be the No. 1 overall pick and it’s not actually close. Other promoters have been making a run at Spence.”

It’s unclear how long Spence will go before he eventually signs with a promoter. But if he’s going to be getting big money like $3.5 million for fights against the likes of Peterson, then it’s understandable why he wouldn’t want to sign with another promoter. Spence wouldn’t get that kind of money fighting Cotto. It’s likely going to take a tremendous offer from a promoter to get Spence to sign with them in a long term deal. Spence is seen as the next start in the welterweight division, but he’s not fighting nearly enough now. Spence should be fighting at least 3 times a year. Spence has fought only once in 2017 with his 11th round knockout win over Kell Brook earlier this year on May 27 at Bramall Lane in Sheffield, England.

If Spence fights in December, then he’ll have 2 fights this year. He’s not making big money yet, and he needs to be fighting as frequently as possible to increase his brand with the U.S boxing public. At 27, Spence should be fighting as often as possible. Only fighting 1 or 2 times a year isn’t going to help turn Spence into a PPV star in the U.S. Floyd Mayweather Jr. was able to become a big PPV attraction fighting only 2 times per year when he was Spence’s age.

Mayweather had big name opponents that helped making him a huge star. These are some of the fighters Mayweather fought from 2005 to 2010: like Oscar De La Hoya, Ricky Hatton, Shane Mosley, Zab Judah and Arturo Gatti. Spence doesn’t have those kinds of stars to make him a big name. That’s why he should be fighting at least 3 times a year so the U.S boxing fans can see him fight as much as possible so they become fans of his.

“I am told Haymon has promised him like $3.5M for his next fight, which is a lot of money for him to turn down and nowhere near what anyone else was offering him for a fight,” said Rafael in explaining why Spence isn’t signing with another promoter right now.