Tyson Fury will lose almost half of his earnings after the highly anticipated rematch with Oleksandr Usyk. The 36-year-old British boxer is expected to earn around £60 million for fighting the Ukrainian in Saudi Arabia.
However, if Usyk, who handed Fury a split decision victory in their first meeting in May, wins again, it won’t be the only thing Fury will lose. According to data analyst JeffBeta, Fury will receive almost £30 million in prize money deducted by the taxman for income tax and national insurance, which he will have to pay when he returns to the UK.
In total, around 47 per cent of his winnings will go to HM Revenue and Customs. He will have to pay around £28 million in tax and an additional £1.2 million in National Insurance contributions.
The fight purse shared by Usyk and Fury is believed to be valued at a staggering £150 million. With a victory in the first fight, Usyk is expected to take home a larger share of the purse, estimated at around 60 percent.
Discussing the tax treatment of Fury’s earnings, a JeffBet spokesperson commented: “If you are a UK resident you must pay tax on your earnings abroad in the same way and this remains the same regardless of how much someone may earn.
“Good tax advice is always crucial and in this case you can be sure that the Fury camp will consider the most advantageous deal.”
While financial aspects play their part, Fury, better known as the Gypsy King, is determined to fix his only professional failure. He recently confessed that he had not spoken to his wife Paris for three months in order to maintain absolute concentration.
On his approach to the upcoming fight, Fury revealed: “If anything, a little more focus. More laser focus and less clowning around.
“If I put two things into my game plan, it will be a little more effective. There are no large advantages here. They only gave him a point [it could have been] either way, split decision, draw, whatever. So there’s not much we can change easily.
“But how about this one? How about I won the round 10-8 in round nine? This is no longer a draw or a one-point victory, it is a decisive victory. A little less cheating and a little more focus, laser focus and I should get my job done.
This article first appeared Take back the USA.