Back in the day, who would have imagined a young boxing fan discussing the “exit strategy” of a boxer? But today, young fans who watch fights, read articles, and exchange posts on the many sites, have been able to build up, albeit unknowingly, an understanding of many basic business and economic concepts.
Marketing
Tyson Fury makes Adrian Broner look dull (which, in fact, he may be). Saying outrageous things that make The Donald look pious. Fury has created a persona that attracts the attention of scribes like honey attracts bees.
Broner, on the other hand, is the bad book-end that creates attention through disgusting and self-destructive behavior. Giving interviews while on the toilet seat is not what Marketing 101 teaches—or maybe a newer version does.
Shannon Briggs has used mind-numbing self-marketing notions to secure a big payday against David Haye. Listening to “Let’s go champ” is akin to scratching one’s fingernails across a blackboard, but it seems to have worked.
Risk–reward
Witnessing Canelo Alvarez weigh the risks of fighting Gennady Golovkin vs. relinquishing his belt so he can continue to secure big paydays at far less risk may not make the fans happy but at least they understand his rationale. Right now, Canelo’s prospects for big paydays are better than GGG’s notwithstanding the latter’s perceived superior skills. Fact is, the entire notion of cherry picking is predicated on risk-reward with some elements of “marketing” thrown in. Haye and Briggs have this down pat.
Supply and Demand
Andre Ward has run out of opponents and therefore has become much in demand. Now, the Krusher fills the bill. Adonis Stevenson, meanwhile, seems to have vanished.
The welterweight division has the supply, and the demand is building. The fans will benefit from great matchups but the “price” will be steep as demand usually equated to higher ticket prices
Conversely, Golovkin may have to move up because the supply of viable opponents is rapidly dwindling. Time will tell as he scrambles for his money against the likes of Jacobs, Eubanks and./or Billy Joe.
Erislandy Lara, as just one example, possesses obvious skills and is ranked high but his fights are usually boring, and he refuses to take chances. There simply is no demand to see him fight
Price theory
Quite simply, when a fighter can command a storing demand, he or she can enjoy the benefits of more revenue via stronger ticket sales. David lHaye does this in the UK as he usually is the A side fighter and people will pay to see him toil in the ring.
Consolidation
Golovkin is all about consolidating belts and securing a solid base.
Fraud
The fixed fight is not a commonplace happening, but fighters’ using banned substances are and it begs for stiffer penalties. Unlike “perp walks” that corporate fraudsters are known for, a multi-year ban could work wonders.
Exit strategy
Floyd Mayweather, Jr. waited until Pacquiao had marinated and then beat him handily. Floyd then completed his exit plan by beating a very beatable Andre Beto. The exit plan he used could be the topic of a Harvard case study given its length and use of careful cherry picking along the way.
Negotiations or the Art of the deal
Catchweight fights have become controversial but they are usually made, through careful negotiation, to give one fighter an advantage over another, “Caneloweight” and ”Cottoweight” are new boxing terms that reflect the use of this technique.
When Sugar Real Leonard negotiated the terms of the Hagler fight, someone on Ray’s team knew all about the “art of the deal.”
There are many, many additional ways that young fans have learned about business through boxing.
Can you name some?
Marketing
Tyson Fury makes Adrian Broner look dull (which, in fact, he may be). Saying outrageous things that make The Donald look pious. Fury has created a persona that attracts the attention of scribes like honey attracts bees.
Broner, on the other hand, is the bad book-end that creates attention through disgusting and self-destructive behavior. Giving interviews while on the toilet seat is not what Marketing 101 teaches—or maybe a newer version does.
Shannon Briggs has used mind-numbing self-marketing notions to secure a big payday against David Haye. Listening to “Let’s go champ” is akin to scratching one’s fingernails across a blackboard, but it seems to have worked.
Risk–reward
Witnessing Canelo Alvarez weigh the risks of fighting Gennady Golovkin vs. relinquishing his belt so he can continue to secure big paydays at far less risk may not make the fans happy but at least they understand his rationale. Right now, Canelo’s prospects for big paydays are better than GGG’s notwithstanding the latter’s perceived superior skills. Fact is, the entire notion of cherry picking is predicated on risk-reward with some elements of “marketing” thrown in. Haye and Briggs have this down pat.
Supply and Demand
Andre Ward has run out of opponents and therefore has become much in demand. Now, the Krusher fills the bill. Adonis Stevenson, meanwhile, seems to have vanished.
The welterweight division has the supply, and the demand is building. The fans will benefit from great matchups but the “price” will be steep as demand usually equated to higher ticket prices
Conversely, Golovkin may have to move up because the supply of viable opponents is rapidly dwindling. Time will tell as he scrambles for his money against the likes of Jacobs, Eubanks and./or Billy Joe.
Erislandy Lara, as just one example, possesses obvious skills and is ranked high but his fights are usually boring, and he refuses to take chances. There simply is no demand to see him fight
Price theory
Quite simply, when a fighter can command a storing demand, he or she can enjoy the benefits of more revenue via stronger ticket sales. David lHaye does this in the UK as he usually is the A side fighter and people will pay to see him toil in the ring.
Consolidation
Golovkin is all about consolidating belts and securing a solid base.
Fraud
The fixed fight is not a commonplace happening, but fighters’ using banned substances are and it begs for stiffer penalties. Unlike “perp walks” that corporate fraudsters are known for, a multi-year ban could work wonders.
Exit strategy
Floyd Mayweather, Jr. waited until Pacquiao had marinated and then beat him handily. Floyd then completed his exit plan by beating a very beatable Andre Beto. The exit plan he used could be the topic of a Harvard case study given its length and use of careful cherry picking along the way.
Negotiations or the Art of the deal
Catchweight fights have become controversial but they are usually made, through careful negotiation, to give one fighter an advantage over another, “Caneloweight” and ”Cottoweight” are new boxing terms that reflect the use of this technique.
When Sugar Real Leonard negotiated the terms of the Hagler fight, someone on Ray’s team knew all about the “art of the deal.”
There are many, many additional ways that young fans have learned about business through boxing.
Can you name some?
When Boxing fans become MBA’s
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