A blog about money with Music from Everlast

           Hola people, hope all is well in your neighborhood! Everything is great on this side as the team gears up for fights this year and my family and the team continue to grow. Exciting times!! Since my team is growing so are my responsibilities. Now I am taking it upon myself to get way better at something I am super poor at. Finances! I wasn't really exposed to how to take care of money, save money, or grow my money. If you don't know how to do these things I urge you to find out how immediately, especially if you're planning on a career in the fight game.

Tyson made about $400 million. Filed for bankruptcy in 2004.

          I was once told, "fighters don't make money, promoters do". Over the years I have realized that this is beyond the truth. It is a business and the promoters are the CEOs and the fighters are their product. There is an unlimited supply of bodies to throw at each other. Each one searching for fame or fortune. Unfortunately the fighters get paid a very small percentage of the pot and they take all the damage. From the outside it may seem "glamorous" or "so cool" to be a fighter, but the reality is much more sinister. I obviously love being a trainer and I truly enjoy teaching Muay Thai and working on my Jiu Jitsu so don't get me wrong but the truth must be told. Full disclosure for up and coming fighters is not only beneficial to the fighters but also to the business of combat sports.
         First off, if you plan on becoming a world champion fighter, then you need a few things. You will definitely need talent, mix that in with discipline and heart and top that off with the most necessary of items, MONEY!! Yes you'll need money. You want to train jiu jitsu with a top notch instructor, maybe $200 per month for the gym alone, or up to $150 per session for private lessons. What about a Muay Thai instructor, might be a little less for the gym but private lessons could still get up to $100 or more per session. Have you considered strength and conditioning or even a manager? In order to get to a world champions level and maintain that, it will require some cash. So many people think they are getting into fighting to make money but don't realize that unless you're in  the top 3%  to 5% you're not really making money. So let's say hypothetically that you are making $15,000 per fight but you only fight twice per year. That's only $30,000 and that's before Uncle Sam takes 40%, then of course you have to pay your trainers and management, don't forget bills etc... If you don't believe me just do your due diligence, fighters are coming out of the woodwork against the payment methods of the UFC and it's not unheard of for boxers to get paid poorly and end up broke as well. I mean not for nothing one of the greatest fighters in our generation, Manny Pacquiao, with a full team around him to make sure everything is taken care of owes about 45 million dollars in taxes. How does that happen when you have a major promoter "supporting you". It's simple, they don't support you. While you're winning you're the greatest thing since sliced bread, but as you start to decline or skid they start to put focus on the new guy or girl that is doing well. As a fighter you have a shelf life. There is a laundry list of broke world champions out there.
          The only way to fight this trend of getting beat up and ending up broke is to get educated, save, invest and diversify. Maybe while looking for trainers and gyms you should also look into accountants. Don't think of the long term as you standing in the ring or the octagon hoisting the belt over your head while fans scream your name. You should think of the long term as you standing in front of your trophy case showing your grandchildren that belt and explaining how that fight money that you invested is the reason they don't have to settle for a public school education. Life is fleeting and fighting is even a shorter window of opportunity. I'm working on getting it right for myself as a trainer and I plan on passing on any knowledge I gain to my fighters as they start down this road to their dreams.

Here's a link to the list of the earnings for the UFC in 2013. Where do you think you would rank?

http://www.mma-manifesto.com/ufc-fighter-salary-database/salary-main/2013-year-in-review-ufc-fighter-salaries.html