CONTRACTS AND FINANCIAL ARRANGEMENTS
Execution of Contract
Unless otherwise directed by the Director, a contract between a boxer and a manager is not valid unless both parties appear at the same time before the Director, and it receives written approval. No contract shall be approved between a manager and a boxer for a period exceeding five years. No option to extend the initial period shall be permitted.
Number of Boxers
Managers shall not have more than three boxers under their management in any one show without expressed written permission from the Director.
Accounting for Advances by Manager
Any manager who advances or loans any money to a boxer or incurs indebtedness on behalf of any boxer shall furnish a statement under penalty of perjury to the boxer every ninety days. The statement shall be specific and shall set forth as to each transaction or item at least the following information:
(1) The amount of money involved;
(2) The date that the indebtedness occurred;
(3) The purpose of the indebtedness; and
(4) The name of the person to whom the debt is owed.
Manager Annual Record Required
(1) A manager of a boxer shall maintain an accurate annual record showing all of the following with respect to each contest in which the boxer has participated:
(a) Training expenses;
(b) The amount of money actually paid to the contestant;
(c) The amount of money which the manager received from the purse;
(d) The amount of money owed to the manager by contestant.
(2) The manager's record shall be supported by documentation, shall be made available to both the fighter under contract and the Director upon request, and shall be kept in the manager's possession for a period of five years from the transaction.
(3) The manager's written report shall specify each item listed as a training expense, the date the expense was incurred and the kind of expense involved.
Expiration of Contract
No manager shall be allowed to contract for the services of a boxer under the manager's management for a match to take place on a date after the expiration of the contract between the boxer and manager.
Boxer-Promoter Contract Provisions
(1) No verbal or written agreement other than a contract on the Superintendent's official form shall be accepted by the Director.
(2) No contract between a promoter and a manager or boxer shall be enforced by the Superintendent until all contracts between the promoter and the contestants for any particular match are filed with the Director and meet the requirements of these rules and the provisions of the code applicable to professional boxing.
(3) Contracts are prohibited wherein a certain sum other than federal, state or local government taxes is taken by the promoter from the gate receipts or, where applicable, receipts from the sale, lease, transfer, or other exploitation of broadcasting and television rights, before a boxer is paid a percentage of the balance of said receipts for the boxer's services. Deductions may be allowed only if the amount to be deducted is clearly specified and itemized in the contract signed by the club with the boxer. If the Superintendent determines that the deductions are not sufficiently itemized and specific, the superintendent may disallow such deductions.
(4) Contracts containing "blanket contracts" or options on a boxer's services relating to activities other than the immediate event shall not be approved.
(5) Contracts containing provisions wherein a boxer agrees to accept a certain percentage for the boxer's services with the understanding that at the same time the boxer is to pay his or her opponent a stipulated amount of this percentage will not be approved.
(6) Contracts between a boxer and promoter shall contain the following provision:
"Boxer and promoter agree and understand that in no event will promoter honor any assignments executed by boxer which will cause the compensation to be paid to boxer by promoter to be any less than 66-2/3% of the gross purse to be paid boxer nor will any deductions from the gross purse occur which will bring the compensation paid to boxer to a level below 66-2/3% of said gross purse".
(7) When a manager is not present at the contest where the manager's boxer is performing, before said boxer may lawfully contract for the boxer's own services, it shall be necessary that the boxer:
(a) Present written authorization from the boxer's manager to sign the contract for the fight;
(b) Present written authorization from the boxer's manager to receive the purse.
(8) In case managerial authority is temporarily transferred to another person acting as manager, the acting manager shall:
(a) Hold a valid manager's license;
(b) Present a written agreement, signed by both the boxer and the existing manager;
(c) File a copy of such written agreement of transfer of authority with the Director for approval.
(9) Managers are prohibited from signing a fight contract for the appearance of any boxer when the manager does not have a written contract on file with the Director for said boxer.
(10) Manager shall send written notification to the Director immediately upon the termination of a contract with a boxer.
(11) If the boxer and promoter agree that the promoter shall pay the boxer's travel expenses, such agreement must be reflected in the contract or the Superintendent will take no steps to enforce the agreement.
Stat. Auth.: ORS 463.113 & ORS 463.185
Stats. Implemented: ORS 463.113 & ORS 463.185
Hist.: BWC 1-1988, f. 3-22-88, cert. ef. 3-29-88; BWC 1-1991, f. & cert. ef. 9-20-91; BWC 1-1995, f. 10-10-95, cert. ef. 10-13-95
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