Essential The Official Boxing Random Thoughts Thread...All boxing heads ENTER.

Apollo Creed

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IVS said:
Should the trainer receive a percentage of your total purse after backend revenue, or only of your initial guaranteed purse ?

And if that wasn't negotiated what is the default expectation really.
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I initial heard the issue was he only wanted to give a cut of guarantee and not backend.
 
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kaldurahm

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IVS said:
Should the trainer receive a percentage of your total purse after backend revenue, or only of your initial guaranteed purse ?

And if that wasn't negotiated what is the default expectation really.
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Did he get the initial guarantee? Seems like DJ was supposed to get 2.5mill that's 10% of the 25m. The texts make it seem like eroll only paid 350k and still owed 2.15m to DJ
 
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((ReFleXioN)) EteRNaL

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JamesJabdi said:
Sad to see Derrick James and Spence falling out over money......sounds like last training camp didn't go good and also another reason why Spence looked so bad his last fight:francis:
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No it sounds like Errol just being greedy and stiffing the guy who helped him become a champion. Just pay that man his 10% and move on with your life.
 
JamesJabdi

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((ReFleXioN)) EteRNaL said:
No it sounds like Errol just being greedy and stiffing the guy who helped him become a champion. Just pay that man his 10% and move on with your life.
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Last training camp did have an influence on Errol and Derrick splitting...he didn't even look like himself......go back to eating your crayons :mjlol:
 
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www.ringtv.com

Derrick James, Errol Spence Embroiled In Two-Way Lawsuit Amidst Bitter Split - The Ring

Derrick James and Errol Spence have not only parted ways but have taken legal action against one another. The Ring has confirmed that James filed a lawsuit against his now former client, seeking damages in excess of $5,000,000. A 19-page Breach of Contract, Fraud and Misrepresentation complaint...
www.ringtv.com www.ringtv.com

“On February 13, 2024, Mr. Spence and Mr. James spoke for the first time about the guaranteed amount Mr. Spence received for the Crawford fight,” the complaint stated. “During that conversation and for the first time in their over 11-year professional relationship, Mr. Spence asserted that Mr. James was not entitled to receive 10% of his guaranteed purse. Based on that interpretation, Mr. Spence asserted someone named “Al” told him that paying Mr. James $350,000.00 for the Crawford fight in exchange for his training services was “generous.

“However, no one named “Al” was present when Mr. James and Mr. Spence originally entered into their agreement nor was anyone named “Al” present when Mr. James provided training services to Mr. Spence for each fight. Thus, any alleged reliance by Mr. Spence on advice from someone named “A1” regarding Mr. James’ compensation is misplaced.”

The conversation prompted James to send a legal letter to Spence on February 14, one day later. In it, he demanded full disclosure on fight purses for Spence’s PPV headliners versus Mikey Garcia, Shawn Porter, Danny Garcia, Yordenis Ugas and Crawford.

According to the complaint, Spence contacted James via phone and “admitted to Mr. James during a phone call that

Mr. Spence was paid “25 mil.” for the Crawford fight as his guaranteed purse. Additionally, he admitted that he was not “true” to Mr. James when he attempted to pay Mr. James $350,000.00 as compensation for the Crawford fight.

“Mr. Spence said he was “man enough and honest and truthful” enough to admit that following the Crawford fight he “did rob” Mr. James by paying him $350,000.00 and he “had to own up to it.” Mr. Spence acknowledged that “it was his wrong” and he had to “own up to [his] s**t.”

A text exchange on February 16 was captured via screenshots and submitted as evidence. James requested a wire transfer for the remaining amount he felt he was owed, and provided his bank information. Spence asked for the specific dollar amount still owed. He then acknowledged that James was still owed $2,150,000 since he already paid $350,000.

Spence requested a one-week period to pay since the lacked the liquid funds to satisfy the requested amount.
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From the article.:huhldup:

In lieu of payment, Spence instead responded on February 20 with bout agreements for the aforementioned PPV main events. The following guaranteed purse amounts were claimed by Spence as the basis for James’ ten-percent commission for each:

  • Mikey Garcia (March l6, 2019) – $3,000,000.00;
  • Shawn Porter (September 28, 2019) – $1,500,000.00;
  • Danny Garcia (December 5, 2020) – $1,500,000.00;
  • Yordenis Ugas (April 16, 2022) – $2,000,000.00; and
  • Terrence [sic] Crawford (July 29, 2023) – $2,500,000.00.
James pointed to this exchange as the the first sign that “he was not being paid 10% of Mr. Spence’s guaranteed fight purse for the aforementioned fights. In fact, he learned that was not even paid 10% of the bout agreement for the fight against Mikey Garcia (March 16, 2019).”
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:huhldup:

“Spence is grateful for James’s longtime assistance,” the complaint read. “But [he] is disappointed by James’s recent attempted overreach to try and obtain payment beyond their longstanding agreement and exceeding the scope of the services that James provided.

“Because Spence performed under the parties’ agreed-upon fee arrangement by paying James ten percent of his fight purse, as understood by and between the parties, Spence does not owe James any unpaid compensation.”

Spence pointed to his first fight purse in his December 2012 pro debut. According to court documents, he was paid $2,500 and paid $250 to James from that amount.

That trend continued to throughout his career, even as Spence’s purses considerably increased as did his in-ring accolades. It included his wins over Mikey and Danny Garcia, Porter and Ugas, all of which headlined PPV events. From that batch, James was given a bonus on top of his $150,000 payment from the Danny Garcia fight in December 2020. The bout was Spence’s first after he recovered from an October 2019 single car crash in his Dallas home region.

Spence honored the same oral agreement for the Crawford fight. Court documents indicate that Spence hand-delivered a $350,000 check on September 3 to James, who “accepted the payment with no complaint. Thus, the standard course of performance between Spence and James occurred, for a 29th time.”
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So Spence wants to pay % of guaranteed purse, DJ wants % of total purse (guarantee and backend.)

The Ring has additionally learned that Spence has interviewed at least three trainers to take over the reins. The No. 1-rated Ring welterweight contender plans to return in late summer or early fall.
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FreedMind

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ChocolateGiddyUp said:
Trainers shouldn’t get PPV come on now :martin:
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Apparently Spence got 25mil guaranteed, but only paid DJ 350,000$. Well below the 10% DJ and Spence had seemingly agreed to.

Could be that Errol never paid DJ 10%, which is why DJ wants to see financial records for purses.

Edit: this shyt all fukked up lol.

James was paid $350,000 from that fight. Both complaints note that Spence based that payment on ten-percent of his $2,500,000 guaranteed purse ($250,000), plus a $100,000 bonus.

The James side insists that the ten-percent payment should be based on total revenue earned by his client. That same viewpoint is not shared by Spence and his legal team.
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