Boxing is often regarded as one of the most profitable combat sports among its kind. Boxers are able to make a lot from their battles, which is one of the many reasons for this expression. Nevertheless, casual followers may be unaware of certain expenses concealed beneath the opulence of the opulent lifestyle.
In addition to the obvious costs associated with logistics and preparation, boxers bear a heavy financial burden in the form of sanctioning fees that they must pay to the regulatory organizations. Each of the four major sanctioning organizations—the WBA, WBC, WBO, and IBF—has its own highly sought-after title. Every title fight has fees levied by these bodies, which puts more financial strain on the fighters. Due to an important point it makes, an old video of boxing legend Floyd Mayweather speaking with a Showtime Sports reporter on the sidelines of the October 2020 fight between Gervonta Davis and Leo Santa Cruz is going viral.
Floyd Mayweather Jr. is heard in the video, which boxing reporter Michael Benson just published, lamenting what he sees as the unjust costs charged by boxing commissions. Mayweather also shares his worries on the overabundance of titles at each weight class.
Mayweather stressed in the video how the necessary sanctioning costs have a detrimental effect on the legitimacy of the sport. “Most people are unaware that there is a sanctioning fee associated with each belt you win. A boxer must pay a sanctioning fee if he is in possession of an interim belt. A boxer must pay a sanctioning fee if he only owns the standard belt. A boxer must then pay a sanctioning fee if he is a super champion. This is detrimental to boxing as a sport.
further emphasized the spread of winners, diminishing the honor attached to the title. He voiced his worries, saying, “Every fighter is now a champion. Nowadays, belts are akin to an amateur medal won by a boxer.It’s imperative that the WBC, WBA, IBF, and WBO tidy this up. This boxing sport needs to be cleaned up. This sh** appears unappealing.
Mayweather’s fear seems reasonable given how much the boxers must pay the sanctioning organization, and nothing has changed.
Knowing the World Boxing Council (WBC), World Boxing Association (WBA), International Boxing Federation (IBF), and World Boxing Organization (WBO) sanctioning fees in the world of professional boxing can be difficult. Every organization has different policies and fees that affect the bottom line of boxers and promoters.
According to WBC regulations, promoters must pay an annual registration fee, often in the range of $7,000. The cost of a fight varies from $5,000 to $25,000 based on the weight class and type of title. While unoccupied belts demand $2,000 from each party, champions and challengers with earnings up to $100,000 get minimum payments of $3,000 and $1,000, respectively.
Moving on to the WBO, their pricing structure makes more sense. There are no fees for promoters, and winners give back 3% of their total fight earnings, with a minimum of $1,000 and a maximum of $200,000. This is slightly changed by unification fights, which keep the same minimum and maximum restrictions but add a 2% charge to the purse.
