Klitschko vs Fury and a British boxing struggle against purse bids
Boxing fans are still in celebratory mood this week, now that Wladimir Klitschko vs Tyson Fury is finally happening.
Last minute panic
However, with the bout being negotiated before the scheduled purse bid in Panama, alarm bells were raised within the boxing community.
A purse bid takes place when a governing body announces a mandatory title challenger or title eliminator and involves all interested registered promoters who bid on the total amount of money that the fight is worth, and fighters will be paid.
Quite simply, the highest bidder wins.
Behind closed doors Hennessy Sports and the Klitschkos’ own K2 had agreed a deal which would again leave the power of the fight within the hands of the world champion.
Yet again, a British fighter would face the task of a championship opportunity away from home.
British struggle with purse bids
The farce in Panama City is a story for another time, but brings a debate to the forefront about British promoters and fighters’ continual struggle against purse bids.
Although it’s great that promoters don’t have to go through the hassle of a purse bid, it seems time and time again it is leaving British fighters and fans clutching the short straw.
The truth about purse bids are, it’s ultimate risk versus ultimate gain. The promoter, if done right, can earn a substantial amount of money from the fight; assuming the bout is a commercial success.
The location, the date, down to the colour of the ring ropes, winning a purse bid can be seen as monumental in terms of holding an advantage.
Klitschko and K2 will promote the fight, it will take place in the 39-year old’s adopted home of Germany, and it all plays into the hands of the current world champion.
Klitschko and Fury’s German showdown is expected to be broadcast on Sky Sports Box Office in the UK, a service that has only recently started to resurface since the disaster of Wladimir’s title defence against David Haye in 2011.
Looking at things from a monetary perspective, it’s more than plausible that the reason British promoters want to avoid purse bids is because of that huge risk involved; especially in the modern climate of boxing.
This isn’t the only case in recent boxing headlines, George Groves will have to travel to Las Vegas, Nevada on August 22 to face Badou Jack for the Super middleweight title.
A deal was reached between Leonard Ellerbe and Groves’ Sauerland Promotions a few weeks prior to a looming purse bid.
Promoters question the risk of financial strain when they are able negotiate; as Hennessy did with K2, terms that although may benefit Klitschko, will compensate Fury considerably, who is rumoured to pocket a minimum of around £4m.
Home advantage and risk vs reward
It seems almost as if, fighting on enemy territory has become the expected, and that has bread content within the British boxing circuit.
Fans continue to pine for a legitimate international world title bout on British soil, a dream that continues to be just a fantasy.
Holding the championship is key, and a principal tool during negotiations.
Should Fury upset the odds in Germany, maybe we will see a new era in British boxing that will see Great Britain host substantial international bouts once again.
The post Klitschko vs Fury and a British boxing struggle against purse bids appeared first on %%Boxing News and Views/%%.