A scholarship offer is a method that allows promoters to bid and secure the rights to a professional boxing match and its undercard. It is also used to decide who can bid on a mandatory title challenge if the representatives of the two fighters fail to come to an agreement first.
For a standard scholarship offer, one fighter would agree to face another. Then, the registered promoters would have the right to bid on the bout, assuming the fighters had not already accepted an offer from the respective promoters.
The promoter who would bid the highest would be awarded the fight, and they would then have to produce a down payment or deposit before any action, with the proceeds of the fight then distributed among the fights. The proportion of the distribution is decided by formulas established by the governing body concerned, for example the governing bodies WBA, WBC, WBO and IBF.
When one of these bodies prescribes that a fight must take place between a defending champion and a challenger, and both fighters choose to do the fight, promoters and managers often engage in discussions to agree on the match. ‘revenue sharing. However, on some occasions no deal can be made and Fighting Rights then proceed to a scholarship offering where all registered promoters can throw their hats in the ring. A tax of around 10% of the tax is usually paid in advance as a kind of deposit.
Which fighter gets the most money?
The formula for a split tends to be that the belt holder will be entitled to a larger share of any income.
The 2015 fight between Wladimir Klitschko and Tyson Fury is an example of a purse bidding process for a mandatory title fight. Fury was the mandatory WBA challenger for Klitschko. Representatives of the Ukrainian, K2 promotions and Fury’s Mick Hennessey have entered into talks to decide on the revenue split for the upcoming fight, but neither side has been able to come to an initial deal with the other. part.
As a result, the WBA ordered the couple to fight a scholarship offer, which would have allowed any promotional organization or individual promoter to make their own offer, with the highest value winning the chance to promote the show. However, in the meantime, the two fighters were able to come to an agreement and a scholarship offer was ultimately unsuccessful.
A more recent scholarship offer that has been accepted is that of George Kambosos Jr. and unified lightweight champion Teofimo Lopez. Lopez was unable to come to an agreement with his promoters, Top Rank, and his fight against his mandatory challenger IBF therefore switched to a stock market offer. While Lopez’s Top Rank team made an offer, it was ultimately won by rivals Triller, who secured the rights to show the fight.
Some bodies can exercise some control over the fight if they do not believe that the level of a scholarship offer is correct or is too low.