Ufc should hire a pay check gatekeeper.

[JudoThrowFiasco]

@avenue94 how about ufc validating/qualifying specific financial advisor firms. That way at least a fighter has access to that list. I remember Shane Carwin saying his management set up his llc and financial advisory. Seems like something that would fall under management representative domain

 

[avenue94]

@avenue94 how about ufc validating/qualifying specific financial advisor firms. That way at least a fighter has access to that list. I remember Shane Carwin saying his management set up his llc and financial advisory. Seems like something that would fall under management representative domain

Yeah wouldn't hurt, as long as those advisers are completely indepedent. Don't want any repeats of "ufc/NFL doctors".

And while I don't know what info the UFC gives fighters, would it kill them to send a welcome email for all signees telling them setting up an LLC is a good idea. Assuming they aren't doing so already.

 

[PicoPulse]

if you're combining his luxury purchases I dont see a problem at all and as a top tier best in the world at his craft athlete I dont see hundreds of thousands being spent on training/coaches/partners/travel as strange

 

[JudoThrowFiasco]

Yeah im on the same page. I guess the view I take of it as a fan is sure most fighters would ignore but say 10 fighters listen and have better post career lives? That's a pretty cheap cost to pay for what keeping a financial adviser on ufc retainer or payroll for less than 7 figures.

Sure, I'm all for them providing options or pathways. I'm just of the mindset you're an idiot if you're not currently seeking out that. I'm assuming every fighter has a bank they deal with, basic advisory is offered for a minimum cost. Are these guys just puting their pay into a chequing account and calling it a day? I'm sure you manage your finances in an astute manner on your own accord (seeking advisory services)

 

[JudoThrowFiasco]

Yeah wouldn't hurt, as long as those advisers are completely indepedent. Don't want any repeats of "ufc/NFL doctors".

And while I don't know what info the UFC gives fighters, would it kill them to send a welcome email for all signees telling them setting up an LLC is a good idea. Assuming they aren't doing so already.

Wouldn't kill them at all. Although if a fighter isn't doing that already I'm assuming they are using turbo tax and not seeking out a cpa.

 

[DegenerateHypeTrain]

I heard Mike Perry is available

I’m screaming at that one. Hahahahahahaha

 

[avenue94]

Sure, I'm all for them providing options or pathways. I'm just of the mindset you're an idiot if you're not currently seeking out that. I'm assuming every fighter has a bank they deal with, basic advisory is offered for a minimum cost. Are these guys just puting their pay into a chequing account and calling it a day? I'm sure you manage your finances in an astute manner on your own accord (seeking advisory services)

Not going to go too far astray here, but keep in mind that despite the UFC having a relatively affluent fan base, combat sports disproportionately recruit from lower income demographic. And the UFC has a massive talent pool from non US countries who won't be as financially lierate in US standards.

It's sort of like when reporters laughed at nick Diaz when he complained about not knowing how to buy a house.

And yeah my finances are good, been investing in UFC hot dog Brandeis since they are collectibles. Can't quit for hotdog brander NFTs.

 

[Megatronlee]

Hence why i said it makes sense for kids coming out of school going to the pros which is where those initiatives are applied. They don't enforce vets to take it.

Nah it’s a good thing. They should all be given this resource dumbo

 

[TempleoftheDog]

Or they could you know actually pay their champions well.

The champions get paid fine. When have you ever heard one complain? Maybe active Ngannou should actually fight as the champion, and then he’d get paid.

The guy is taking the victim role way too far at this point. When everything is literally his choice. And his fans just eat it up.

 

[JudoThrowFiasco]

Not going to go too far astray here, but keep in mind that despite the UFC having a relatively affluent fan base, combat sports disproportionately recruit from lower income demographic. And the UFC has a massive talent pool from non US countries who won't be as financially lierate in US standards.

It's sort of like when reporters laughed at nick Diaz when he complained about not knowing how to buy a house.

And yeah my finances are good, been investing in UFC hot dog Brandeis since they are collectibles. Can't quit for hotdog brander NFTs.

The international fighters is a good point I hadn't considered and that adds a new dynamic outside possible scope if said fighter isn't keeping their money within the US. Although I haven't heard too many international fighters going broke or complaining so I don't know whst the brazilans or eurasians are doing.

 

[StonedLemur]

No, grown humans don't need to be mandated a financial coach. There's an argument for kids coming right out of school to the pros but in the ufc, no. Most fighters are 25 plus

Perfectly stated sir.
If an adult can't handle their own money they more problems than just that.

 

[pick999]

No, grown humans don't need to be mandated a financial coach. There's an argument for kids coming right out of school to the pros but in the ufc, no. Most fighters are 25 plus

Also its not like ufc paying highly touted rookies 50 million dollar contracts

 

[avenue94]

The international fighters is a good point I hadn't considered and that adds a new dynamic outside possible scope if said fighter isn't keeping their money within the US. Although I haven't heard too many international fighters going broke or complaining so I don't know whst the brazilans or eurasians are doing.

Yeah I couldn't tell you how bad that problem is. Lack of anecdotal evidence (aka most US mma coverage won't follow ufc vets in Brazil, etc) and I doubt the UFC does surveys or keeps track on how fighters do after their tenures.

 

[Blayt7hh]

They should maybe try to educate fighters when they come to the UFC. But no matter what you do, there are a lot of people out there that will run out and blow money as fast as they get it.

 

[snackgod]

It’s not normal that someone like Francis ngannou spent over 730k in camps and luxuries in less than a year. Should someone hire him a finance coach ?

combat sports isnt cheap. what also isnt cheap is the manison and 500k watch he wears and those private planes he flys in.

 

[Oeshon]

Ufc does a year summit where they provide resources like financial planning to fighters

Its not their fault is Ngannoue is an idiot and blows all his money. If anything, its great for the UFC as it keeps guys hungry to fight and earn more money to fuel their lifestyle

 

[Goober stoober]

I think when you get into MMA, you gotta decide right away if you're doing this for the money or the competition. Because very early on, you're going to realize if you want to rise up the ranks through merits alone, you will be spending a shit ton on training and earning peanuts for several fights.

If you care about the money, then you build a following as you make your way through the regional scene, looking to fight dust bins and tomato cans for highlight finishes. Then when the UFC comes calling, you can grab some money up front and build up an incentive laden contract that allows you to make more money as you gain more fans.

If you want to be the best, you're gonna be paying ALOT up front while making virtually nothing for years. And when you rise up, unless you have a following that you have created along the way, your initial UFC offer will be shit. But you will take it because competition matters and being the best matters. So while you build your resume, you don't have time or money to build your following. Now you get your chance at the top but even if you win, you're not given a chance to renegotiate your deal and you find out guys like Derrick Lewis make more than your ass.

In boxing, you have a handler and as you come up and if you're seen as a worthwhile investment, you will have everything taken care of, from food, rent, expenses, training, etc. This isn't something you can apply to the UFC because investors would rarely, if ever, get their money back, let alone make a return.

 

[nhbfan8080]

I'm not against offering the option. But it's one of those things in which apt people will do on their own accord and indifferent people won't partake in either way

UFC did offer financial and tax advise to fighters in their 2017 UFC Athlete Retreat where a whole lot of hilarity happened. UFC learnt their lesson from that/

Al Iaquinta bailed after a day , Cat Zingano posted a sarcastic tweet about her 50% off Reebok coupons. Kajan Johnson got escorted out after criticizing the Reebok deal.
Kobe Bryant gave financial/retirement advise to fighters (like how to spend $500k wisely or something like that) without considering that most of the roster would've done better with more practical advise about how to fix their old cars, buying cheap food, finding cheap rent, etc.

https://mmajunkie.usatoday.com/2017/05/al-iaquinta-ufc-summit-speakers-talked-down-sudden-departure
https://www.mmafighting.com/2017/5/...mous-reebok-coupon-and-insulting-nature-of-it
https://www.mmamania.com/2017/5/22/...-after-criticizing-promotions-reebok-deal-mma

“How much is Kobe getting to be there? And I love the man. Don’t get me wrong, I love Michael Strahan. Michael Strahan is actually one of the producers that did my documentary [Religion of Sports], so I have an invested emotion in actually liking this guy because he was delicate with my situation and my story. I do care about these guys, but it’s like, how much did it cost to get them there? How much did it cost for Snoop to be there for a private concert? And every carpet in this hotel saying ‘Fighter Retreat?’ Why not spread that money out over us? Or get us health insurance? We’re getting welcomed to a family, this professional athlete family, a world family. Kobe’s telling us how to invest our money. Tell me how do I invest and intelligently get a return on f*cking five thousand dollars?

“I don’t feel they were considering at all our positions.”

Zingano said that there was also an element of staging going on, in which she felt like the UFC would gather footage of the merrier times during the retreat — such as when people were drinking and socializing — then splice that footage into the seminar footage, creating an illusion.

“I saw the highlight video that they made, and it’s exactly what I told everyone it would be,” she said. “I said, look, they’re getting us all drunk. They’re feeding us, and they’re taking video and taking pictures of all of us laughing and having a great time and enjoying ourselves, and they’re taking footage of the seminars, and they’re going to edit it all together and make it look like that’s why we’re laughing, and that we’re smiling, and we’re so happy and so satisfied.”​

Leslie Smith asked Kobe Byrant a simple question about having a fighter union which was awkward. There was a video of that incident when she asked the question which can't be found on youtube anymore.
https://mmajunkie.usatoday.com/2017...-bryant-unions-ufc-athlete-retreat-lakers-mma

 

[gaffbyknees2]

The champions get paid fine. When have you ever heard one complain? Maybe active Ngannou should actually fight as the champion, and then he’d get paid.

The guy is taking the victim role way too far at this point. When everything is literally his choice. And his fans just eat it up.

Didn't Henry their last champion they tried marketing as the goat for his division retire because the money was shit. That's embarrassing as hell for an organization. Dont defend that bullshit. I'm not saying everyone needs to make Conor money but the champions should be making serious bank. The amount the fighters make compared to the rest of the revenue is a joke. Anyone saying its not is a corporate shrill.

 

[Kung Fu Kowboy]

Soulja Boy has a program for this on his gaming computers he's selling...