So I have this idea.
For every fight a fighter has in the UFC or under their banner, a set fee is put into some sort of retirement vehicle that will be for fighters when they retire.
Help me out here with how this might work.
Big companies like Blackrock do pensions for fire and police departments. Someone like this could set something up. The UFC can't offer a 401k because these fighters are ICs. Or at least that's what we're told. 
They are basically done their career at 40 years old. They can set themselves up for retirement.
FadeToBlack - Big companies like Blackrock do pensions for fire and police departments. Someone like this could set something up. The UFC can't offer a 401k because these fighters are ICs. Or at least that's what we're told.
I know that Sugar Ray Leonard's management firm requires that a portion of their managed fighter's purse goes into some sort of retirement vehicle. So perhaps this is something that management should look into but I really think that some of the venom that is spit at Zuffa could be lessened if they tried something like this.
The fighters may be ICs but they cannot fight elsewhere and if they try they are in a legal mess. So legally Zuffa has made them employees of a sort. So why not try a 401K idea? (I'm not from the USA so I don't know how 401Ks work per say)
rockafella - They are basically done their career at 40 years old. They can set themselves up for retirement.
Maybe the Reebok money should have been used to set up some retirement vehicle for ALL fighters fighting rather than just a few ranked fighters.
DalyDentedDecimated'sDome -
I'm all ears for this idea.
Rather, since i'm reading it,
"all eyes".
Heck, maybe even tie the residuals from fights into it.
Example. You own or have a part ownership of your likeness. When it is used to make a video game or in a promo, or when an event dvd is sold, or a fight is downloaded from the fight library, you get a portion of it but that portion is put into a retirement vehicle for you or by the company that will pay it out after retirement.
DalyDentedDecimated'sDome -Dougie -DalyDentedDecimated'sDome -
I'm all ears for this idea.
Rather, since i'm reading it,
"all eyes".
Heck, maybe even tie the residuals from fights into it.
Example. You own or have a part ownership of your likeness. When it is used to make a video game or in a promo, or when an event dvd is sold, or a fight is downloaded from the fight library, you get a portion of it but that portion is put into a retirement vehicle for you or by the company that will pay it out after retirement.
mMmm...good idea.
But a company run by hard-nosed SOBs who want to make as much money to fund their anti-aging treatments, hair transplants, girlfriends' breast enhancements, penguin and snow park at the president's residence (that rhymed...), they have every moral obligation to, but no final ultimate legal reason to part ways with any pennys they've legally made.
But for fun, let's figure out what kind of plan we can come up with.
ill tell you how it works...you take the money from your purse, put some of it in a bank account...profit
What ever I put into my pension a month my employer matches it. Couldn't the fighters set up a pension scheme somewhere were a certain percentage from sponsorship and fight winnings goes in after each fight and the ufc matches it? Could be written into contracts?
gokudamus -
ill tell you how it works...you take the money from your purse, put some of it in a bank account...profit
Again, looking at an interview with Sugar ray Robinson, he stated that a lot of guys just take the money and live for the now. Fighters under his management are required to put a portion into a retirement vehicle.
I think that Zuffa would do well to put together some kind of retirement plan for fighters. They put into place a health care plan so obviously they do want the fighters to be healthy, why not take the next step?
The goodwill itself might help set up some help for the lawsuit issue too.
MayhemMatthews - What ever I put into my pension a month my employer matches it. Couldn't the fighters set up a pension scheme somewhere were a certain percentage from sponsorship and fight winnings goes in after each fight and the ufc matches it? Could be written into contracts?
It's a great thought.
Fighters could take a portion of their purse and make it a retirement investment and then Zuffa could match it... up to a specified amount.
Dougie -gokudamus -
ill tell you how it works...you take the money from your purse, put some of it in a bank account...profit
Again, looking at an interview with Sugar ray Robinson, he stated that a lot of guys just take the money and live for the now. Fighters under his management are required to put a portion into a retirement vehicle.
I think that Zuffa would do well to put together some kind of retirement plan for fighters. They put into place a health care plan so obviously they do want the fighters to be healthy, why not take the next step?
The goodwill itself might help set up some help for the lawsuit issue too.
why not take the next step? because it costs money.
if a grown man wastes his money and doesnt save it, maybe Im an a-hole but thats his problem
Instead of a "retirement fund", how about an "education fund". Something so that a guy can go get a trade or skills to use in the world outside of fighting.
If a guy chooses to not use this avenue, he's on his own.
Most guys are out in their thirties. They have a long life ahead of them to build a "retirement fund".
I think it's a super good idea. Even just giving them an opportunity for financial advice. I know in a lot of professional sports the bankruptcy rate after ritring is ridiculously high, so even knowing HOW to plan would probably go a long way. 
King Trav - Instead of a "retirement fund", how about an "education fund". Something so that a guy can go get a trade or skills to use in the world outside of fighting.
If a guy chooses to not use this avenue, he's on his own.
Most guys are out in their thirties. They have a long life ahead of them to build a "retirement fund".
This is a great idea too!
"The Clay Guida School Of Carpentry."
"The Vladimir Matyushenko School of Janatorial training."
All kidding aside it is a cool idea to offer and would be optional for fighters.
Rinickulous - I think it's a super good idea. Even just giving them an opportunity for financial advice. I know in a lot of professional sports the bankruptcy rate after ritring is ridiculously high, so even knowing HOW to plan would probably go a long way.
Truth. A lot of sports are offering support that is optional on how to live after their chosen sport.
gokudamus -Dougie -gokudamus -
ill tell you how it works...you take the money from your purse, put some of it in a bank account...profit
Again, looking at an interview with Sugar ray Robinson, he stated that a lot of guys just take the money and live for the now. Fighters under his management are required to put a portion into a retirement vehicle.
I think that Zuffa would do well to put together some kind of retirement plan for fighters. They put into place a health care plan so obviously they do want the fighters to be healthy, why not take the next step?
The goodwill itself might help set up some help for the lawsuit issue too.
why not take the next step? because it costs money.
if a grown man wastes his money and doesnt save it, maybe Im an a-hole but thats his problem
I understand your point but in the long run the burden falls onto the system and we all pay for it but if you look at guys like Mark Colman unable to even get medical work done and pay for it then it makes you wonder.
Even if they let fighters maintain their medical benefits after fighting by payments they make on their own, that might be an option.
Dougie -gokudamus -Dougie -gokudamus -
ill tell you how it works...you take the money from your purse, put some of it in a bank account...profit
Again, looking at an interview with Sugar ray Robinson, he stated that a lot of guys just take the money and live for the now. Fighters under his management are required to put a portion into a retirement vehicle.
I think that Zuffa would do well to put together some kind of retirement plan for fighters. They put into place a health care plan so obviously they do want the fighters to be healthy, why not take the next step?
The goodwill itself might help set up some help for the lawsuit issue too.
why not take the next step? because it costs money.
if a grown man wastes his money and doesnt save it, maybe Im an a-hole but thats his problem
I understand your point but in the long run the burden falls onto the system and we all pay for it but if you look at guys like Mark Colman unable to even get medical work done and pay for it then it makes you wonder.
Even if they let fighters maintain their medical benefits after fighting by payments they make on their own, that might be an option.
Do you know what Mark got his BA in? I can't recall but he 's a college graduate so maybe his degree and doing something with it might be a decent plan B. I could see him coaching a college wrestling team and making a HUGE difference in the lives of up and comers. I definitely agree with you in that there needs to be an emphasis on the planning and preparation of what an athletes post-fight world will look like because its inevitable their prize fighting days will end decades before they reach the age of true retirement like the rest of us. I wish Mark the best.
Cindy
King Trav - Instead of a "retirement fund", how about an "education fund". Something so that a guy can go get a trade or skills to use in the world outside of fighting.
If a guy chooses to not use this avenue, he's on his own.
Most guys are out in their thirties. They have a long life ahead of them to build a "retirement fund".
"Instead of a "retirement fund", how about an "education fund". Something so that a guy can go get a trade or skills to use in the world outside of fighting."
I love this idea. Perhaps a tuition reimbursement program would help. There is no reason a fighter can't attend SOME type of training or start working on a degree to aid in their post-fight career search while they are competing, IMO.
Cindy
CindyO -Most fighters when they are done fighting train other fighters or have there own gymKing Trav - Instead of a "retirement fund", how about an "education fund". Something so that a guy can go get a trade or skills to use in the world outside of fighting.
If a guy chooses to not use this avenue, he's on his own.
Most guys are out in their thirties. They have a long life ahead of them to build a "retirement fund".
"Instead of a "retirement fund", how about an "education fund". Something so that a guy can go get a trade or skills to use in the world outside of fighting."
I love this idea. Perhaps a tuition reimbursement program would help. There is no reason a fighter can't attend SOME type of training or start working on a degree to aid in their post-fight career search while they are competing, IMO.
Cindy