Errol Spence Jr. took a stand by speaking out against the sanctioning fees imposed by boxing’s governing bodies.
Spence’s comments came at his second press tour with Terence Crawford at the Palladium Times Square, New York.
In what is arguably boxing’s biggest fight of the year, with the winner having the chance to become the first undisputed welterweight champion of the four-belt era, Spence used the stage to voice his opinion.
Errol Spence Asks “Where Does The Sanctioning Fee Money Go?” https://t.co/8QtXMt4NZm pic.twitter.com/a992DoczvC
— East Side Boxing (@eastsideboxing) June 14, 2023
It is well known that the sanctioning bodies receive a percentage of a fighter’s purse during world title bouts.
And as Spence and Crawford will put the following titles on the line (WBA, WBC, IBF, and WBO,) both fighters will give up a percentage of their purse. And for Spence, he questioned the rationale behind it.
“We give three percent to these organisations, and we got to know where this money’s going to.
“I mean, you got Canelo and [Anthony] Joshua and all these guys making 50 million dollars, and these belts getting three percent of that. Where’s it going to? How is it helping the fighters out? What are they doing with it,” Spence
Those questions raised some telling points about the viability of fighters holding their belts since it may encourage boxers to vacate them in order to avoid the fees.
And in doing so, sacrifice legacy at the expense of a payday.
Social Media Reaction
For the WBC it is to make belts for celebrities.
— TC (@Boxingcontent) June 14, 2023
It's a hustle
— 🇵🇷Julian Herot🇵🇷 (@HerotJulian) June 14, 2023
finally calls out this after @andreward spoke up. One of the main reasons @Gervontaa and @FloydMayweather never rushed to get Tank the titles. They know this whole thing is a scam. Look at @Realdevinhaney a #paperchamp undisputed fraud not even the best in his own division smh 🤦🏽♂️
— mike (@junglecure) June 14, 2023