Money Boxing

There's a balancing act to perform between fighting enough to pay the bills, and knowing when it's time to retire for health reasons.

Anti-phoenixing rules throw money boxing into the spotlight

As a pro boxer, your salary is made up of several components: As such, there's no "typical" salary. George Foreman amassed much of his wealth after retiring from the sport, by allowing Russell Hobbs to use his name on the "George Foreman Grill. While these sums are eye-wateringly attractive, they're also out of reach for your average boxer. Pro boxers have to pay their own travel, training and management fees from these earnings, so their take home pay may be far less than the figures suggest. The Bureau of Labor Statistics does not maintain job growth data specific to pro boxers.

Floyd Mayweather Jr. vs. Conor McGregor - Wikipedia

However, it does keep data for pro athletes generally, whose careers you would expect to follow a similar trajectory. Employment for pro athletes is projected to grow 7 percent through , which is about as fast as other occupations. Pro boxers may fare better than average as there's lots of money in the sport. As long as fans continue to buy tickets, there should be a place in the ring for newcomers.

Her articles have appeared on numerous business sites including Typefinder, Women in Business, Startwire and Indeed. Find her at www. Skip to main content. During his successful UFC mixed martial arts career McGregor maintained an interest in boxing and entertained the idea of a "money fight" with Mayweather.

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He also predicted that pay-per-view viewership of the hypothetical bout could possibly rival Mayweather vs. On March 7, , Mayweather called upon McGregor to "sign the paper" and "make it happen", arguing that "if Conor McGregor really wants this fight to happen, stop blowing smoke up everybody's ass. In July , IBF junior lightweight champion Gervonta Davis was reported to be going to participate in a co-main event. In the United States , the fight was televised via Showtime pay-per-view , available through both traditional television providers and various digital services, including the Showtime PPV website and apps, and UFC.

Fathom Events organized public screenings at venues such as movie theaters. The fight was called by Showtime's lead commentary team of Mauro Ranallo play-by-play , Al Bernstein color , and Paulie Malignaggi color , along with ringside reporter Jim Gray.

McGregor , focusing on the preparations for the fight. Due to the high demand, a large number of television providers, as well as UFC. The main event was delayed by an hour from its projected start time in order to address these problems. Following the fight, a class-action lawsuit was proposed in Oregon against Showtime Networks for unlawful trading practices and unjust enrichment , alleging that the network knowingly advertised a level of quality it was unable to deliver with the amount of bandwidth it allocated for the PPV stream.

Although it was initially believed that the price would match that of the U. As with Mayweather vs. Pacquiao , it was expected that many viewers would seek unauthorized streams of the fight due to the high cost of the PPV. Showtime successfully received a preliminary injunction against the registrant of a group of 44 websites who planned to illegally stream the fight in violation of its copyrights , and all parties in active concert or participation with them.

It was estimated that nearly 2. The referee also warned him, had he lifted a leg, he would have not been warned and got a straight point deduction. Guaranteed Base Purses [60]. On August 23, , the WBC revealed that the inaugural "Money Belt" would be on the line; it is made from Italian-made alligator leather and encrusted with 3. On August 16, , the officials were named for the fight: This was far less than the Mayweather vs.

This would've also meant the fight generated more buys in the UK than Mayweather-Pacquiao which took place in On December 14, , Showtime officially announced 4.

How Much Do Professional Boxers Get Paid?

At the weigh-in, Mayweather tipped the scales at Mayweather was expected to dominate the fight early, but McGregor started strong and was ahead on one judge's card cards for the first few rounds, due in part to Mayweather using the rope-a-dope technique in the early stages. Because of this, the fight looked closer than it actually was due to Mayweather abandoning his usual stick-and-move style in order to knock McGregor out. As the fight reached the minute mark, when MMA fights end five rounds of five minutes , Mayweather began to attack.

In Round 9, Mayweather landed a series of punches to McGregor's face, and the onslaught continued into Round 10, when referee Robert Byrd eventually called the fight in favor of Mayweather after McGregor failed to defend himself. After the match Mayweather stated that he had expected McGregor to be a fast starter, and had allowed him to deliver his heavy blows early. Former boxers such as George Foreman and Evander Holyfield expressed their impression regarding McGregor's boxing skills and the competitiveness of the fight, [78] [79] with Foreman claiming that experts who criticized the fight "should apologize.

Mayweather announced in his post-fight interview that he had fought his final boxing match, and would officially retire from the sport. Mayweather stated "Any guy that's calling me out? Forget it," putting an end to his boxing career. Within the same consultation document, it highlights money boxing as one of the main areas where it is concerned that aggressive tax planning is most likely to occur.

Proposed money boxing rules could harm contractors

Although HMRC insists it has no plans to introduce any new rules beyond those recently enacted, the fact that it has identified money boxing as a problem has fuelled concern within the contracting sector that stricter regulations may be just around the corner. With the understanding that money boxing remains an option for limited company owners, HMRC is considering encouraging contractors to wash out the money left in their company that exceeds their working capital requirements, so that it can be taxed as either dividends or income.

The suggestion is that HMRC may look to make this a compulsory requirement, with very few — if any — non-compliant contractors likely to adhere unless it is written in law. For Abbott, this proposal poses numerous problems, notably concerning what constitutes working capital requirements:. Abbott admits that the proposed measures would likely prove effective in clamping down on money boxing, but warns of multiple ways in which compliant contractors could also be negatively affected.

Whilst Abbott concedes that some contractors do build up funds within a company to claim tax advantages, he notes that for others it simply makes good business sense. The difficulties that many contractors face getting paid on time by larger clients is well documented. As a result, some contractors like to hold money within their company as a reserve, a safety net that the new proposals would eliminate.