Imagine getting told what your promoter makes just before the weigh in!
Listening to the recent episode of ‘From Brooklyn to The World’ was once again entertaining and insightful. Malignaggi & Peter Cards gave expert insider boxing knowledge on why the Ali Act still let’s fighters down.
Here are some things you probably don’t know:
The Ali Act was introduced to essentially protect fighters. However huge flaws remain.
Malignaggi outlined a major problem for fighters. It’s when promoters for fighters sign agreements for co-promotions. What happens is this! A promoter may lease his fighters services out for a bout to another promoter. E.G Promoter A allows his fighter to take part in a bout on another promoters card. Promoter A is given a package and a portion of that is then passed onto the fighter. The fighter’s purse is known from the beginning. However fighters aren’t usually told how much the package is that their promoter is receiving from another promoter, until it’s to late, usually before the weigh in.
So to make this clearer. Promoters often don't reveal how much the total package is that they have generated, until 24 or 48 hours before the bout. At that stage it's impossible for a fighter to withdraw from a bout. If a fighter withdraws from a bout at that stage they can become legally liable for losses in revenue. The fighter has also signed an agreement before this. So a promoter could have received $1M and paid a fighter a career high purse of $250 000. The fighter is happy with the purse, so he signs on, but by the time the fighter is told how much the promoter makes, it can often be before the weigh in. As long as it's before the bout, 1 day or 30 days, it's the same, it's legal.
Then if a fighter withdraws at that advanced stage, it’s impossible. The damages they have to pay. The loss of fans. Etc etc.
Essentially the Ali Act is great in theory. But reform is needed as Malignaggi has stated, as many professional fighters are told about their promoters package only 1 or 2 days before the bout, after having signed contracts.
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