FreedMind
DOPAMINE FOR MY BABY!!
Can someone explain the purse bid stuff to me? I think I have a general idea but it makes Haney look crazy saying he was getting 30mil+ for the Ryan fight.
Fairly straightforward:
A champion and his mandatory can’t come to an agreement for their fight.
The sanctioning body (WBA,WBC,IBF etc) orders a purse bid
Any promoter can place a bid to promote the fight.
The highest bid wins the right to promote the fight.
Sanctioning body determines how to split the winning bid (i/e 60/40 split in favor of champ etc)
Teofimo Lopez - George Kambosos is a notable recent example of purse bid fukkery.
Teo had a publicized disagreement with Top Rank, and wouldn’t accept their terms for the Kambosos fight.
The IBF ordered a purse bid, and in a shocker, Triller won by bidding 6 million dollars. Top Rank and Matchroom bid 2.3$ million and 3.5$ million respectively.
However, after numerous setbacks and delays, Triller failed to post the money they bid for the fight, the IBF granted the fight to next top bidder, Matchroom, and Teofimo lost to Kambosos.*
After looking it up, the final straw was Triller trying to reschedule the fight AGAIN from October 4 to October 16, and while Lopez agreed, Kambosos refused. So the IBF split the deposit from Triller between the fighters, and gave the promotional rights to Matchroom.
There’s more fukkery than I remember.
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