Promoters may be vultures, but they take all the risks. They guarantee the purse and pay for the arena and everything including often fronting the money for the fighters to train.
Anyone can not do their job.
If a fighter is injured and can not fight, then the promoter takes the hit, he is still obligated to pay for the arena and many other things, so this is not a risk free enterprise.
They organise the venues, put the money up, deal with the paperwork, promote the fight....
These guys pretty much put their money on the line - No everybody is a pay per view cash cow - In fact, the vast majority of fighters couldn't half fill a backstreet hall.
Generally speaking, the boxers seek out the best promoter to promote them... Nobody puts a gun to their heads.
Most promoters have to finance an undercard too...
It's very hard to make money from promoting, I guess that's why it's a cut throat business.
Quickly off the top of my head, I can rhyme off some expenses:
1) Hiring of the venue
2) Boxers purse
3) Supporting of undercard
4) Media conferences
5) Ringside Doctor's expenses
6) Judges expenses
7) Health & Safety certificate for event
9) Fire safety certificate for event
10) Insurance for event
11) Security for event
12) IRS / Tax deductions
13) Vat costs
14) Doormen
15) Caterers
Damn... The list goes on....
Not all fights are at the MGM featuring Mayweather.... The domestic fights rake in 20 thousands and below,,,, Not a lot of margin for error there you will agree....?
Business. Schaefer is good at what he does, splitting the money, building a fighter, making fights (thoigh eric gomez is the match maker), making money and getting millions in return. Oscar as the president pulls the strings, its like a mafia. Oscar the Don pulls the strings and Schaefer the right hand man/underboss pulls the trigger. I don't see anything wrong with Goldenboy due to them actually making fights worth our money and making interesting fights. Arum is the worst of all the devils bloodline.
Connections my friend, large connection to influential people in the business...and a keen eye for possible future cash cows
idk what al hayman makes but it seems fighters love em
They just wheel themselves out to talk **** every now and again. Anyone could do their job of putting fights together. Blatant conmen every one of them.
