Connect with us

Hi, what are you looking for?

Headlines

WBA backs Ruiz in taxing situation

LAS VEGAS (October 7, 2008) — “ Last week at the World Boxing Association (WBA) Convention in the Dominican Republic, two-time WBA heavyweight champion John

LAS VEGAS (October 7, 2008) — “ Last week at the World Boxing Association (WBA) Convention in the Dominican Republic, two-time WBA heavyweight champion John “The Quietman” Ruiz (43-8-1, 29 KOs) petitioned the organization to enforce its regulations regarding foreign tax deductions in his fight August 30 against Nikolay Valuev in Berlin.

Because Valuev-Ruiz went to purse bid, Ruiz argued that according to the WBA™s Championship regulations there was a net purse rule in effect requiring any German taxes to be paid by the promoter, Sauerland Event, and could not be deducted from his purse. Last Friday, Team Ruiz was notified that the WBA had ruled in Ruiz™ favor, declaring that at the time of the Ruiz/Valuev bout its purse bid regulations intended and required that there could be no deductions from a foreign boxer’s purse by the winner of the purse bid. The WBA also announced that in the future, its purse bid regulations would operate on a gross basis, where the German tax on foreign boxers could be appropriately deducted by the winning promoter.

Nearly $250,000 was improperly withheld from Ruiz™ check for taxes and must be now be reimbursed to Ruiz by Sauerland.

I’m happy because I haven’t won too many German decisions lately, Ruiz said. “The WBA abided by its rules and stood up for fighters. If we hadn’t fought this Sauerland would have kept my money and now they have to return what they improperly withheld. I want to

You May Also Like

Featured 2

By: Sean Crose Ring Magazine reports that a hoped for dream fight between Canelo Alvarez and Terence Crawford is about to become a reality....

Columns

By Eric Bottjer The post-fight exchange was normal, the victorious boxer shaking hands with the promoter of his rival. But when David Benavidez went...

Featured 2

By: Sean Crose Things seem to be changing for the better. Not all that long ago, well regarded fighters who suffered a single defeat...

Featured 2

By: Sean Crose It really is a shallow world we live in. At least that seems to be the case at times. And now...