Golden Boy attorney Judd Burstein labels them “trade secrets” and admitted to Yahoo’s Kevin Iole that boxing promoters like to hide them from the prying eyes of both the media and promotional rivals.
But, in the ongoing flap over GBP’s New York State suspension which morphed into a $10,000 fine against Oscar de la Hoya’s outfit, something else came out in the wash.
It’s been previously reported by several sources, including BoxingScene, that Amir Khan’s three bout deal with the Goldens guarantees the Freddie Roach trained world champion a minimum purse of between $1 million to $1.25 million.
Now that could be boxing hearsay or fact.
Many of the staggering figures fight fans wind up hearing about are mere promotional puffery.
Yet, in the flap about Golden Boy not turning over Muhammad Ali Act fight and TV revenue information to the NYSAC, it’s been revealed that Khan was only paid $690,000 while Paulie Malignaggi got $450,000 for their November bout at Madison Square Garden.
Question, then, why would the UK star Khan accept so much less than his minimum purse?
Roach wraps hands for world champion Amir Khan efore training session (Associated Press Photo)
It looks like, at this point anyway, that Khan is no Million Dollar Baby in terms of a purse.
But there may be more to this meets the eye, prying or otherwise.
As I understand it, Khan owns British TV rights to his bouts. I don’t know it to be fact but it makes sense since Khan was built into a superstar in the UK by Frank Warren. GBP had no hand in Khan’s rise to prominence.
Maybe he and GBP agreed to defer some money or maybe he got the underpaid balance as training expenses.
I guess Khan would not be troubled unless the $690,000 was all he recieved.
As long as both the promoter and fighter fully report the payment(s) to the IRS, the total payment to the fighter can be strucured in various ways.
This desire to keep “trade secrets” in house is the biggest reason why the Golden Boy-Top Rank lawsuit over the rights to Manny Pacquiao never went into an open courtroom where all and sundry would be revealed.
It may also be a reason why Pacquiao’s defamation lawsuits will be eventually settled without going to trial in federal court.
They say sunshine is the best disinfectant but fight promoters do not believe it.
Perhaps that’s why there isn’t a single boxing commission in America that has any fighter’s promotional contract on file.
Do you expect promoter to volunteer such “trade secrets?”
You make me laugh, son.
