Becoming the champion of the world is an impressive feat. It can also become an expensive one.
The date was December 11, 2013. Jerry Belmontes was set to face Francisco Vargas in Indio, California on the 12th. This bout was scheduled for ten rounds for the NABF (North American Boxing Federation) Super Featherweight title and the WBO (World Boxing Organization) Inter-Continental Super Featherweight title.
After the weigh-in, Jerry was signing his contract, and I noticed a % on the WBO agreement. I stopped Jerry from signing and asked, "What is 3% for"? It was explained to me that the 3% was the sanction fee the WBO charges for each fighter competing for their respective title.
I remember walking back to our hotel room, confused about what to tell Jerry. I was unaware there was an additional charge to compete for a belt! Hall of Fame wrestler Ric Flair used to say, "To be the man, you have to beat the man." While that remains true, to become a champion in the sport of boxing, you also have to PAY THE MAN!
World Boxing Council (WBC) - 3%
International Boxing Federation (IBF) - 3%
World Boxing Organization (WBO) - 3%
World Boxing Association (WBO) - 3%
- Both fighters pay 3% to compete for the title.
- If you become champion, you must pay the sanction fee each time you defend the belt.
- The more belts you have, the more sanction fees you must pay.
THESE BELTS AIN'T FREE!
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