Tobias explains costly fights
Boxers paid
Nestor 'Sunshine' Tobias, who was recently accused of owing boxers money, has revealed that he has paid up after hosting a costly event.
Jesse Jackson Kauraisa
Windhoek
MTC Nestor Sunshine Tobias Boxing Promotions has announced that boxers involved in their last boxing bonanza, held about two weeks ago, have been paid.
This comes after several boxers who fought during the event complained that they had not received the money promised to them.
Promoter Nestor ‘Sunshine’ Tobias released a lengthy statement yesterday in which he confirmed that the due amounts have been settled.
“We would like to categorically confirm that all the visiting boxers were paid. “We would also like to categorically state that no foreign boxer was ever stranded in Namibia and having to beg for their money.
“We do, however, acknowledge that there has been a slight delay in processing payment, which is a totally acceptable practice in boxing where visiting boxers would get paid via wire transfer after the fight – with anything between one or two weeks after the fight depending on what was agreed upfront,” the stable announced.
Treated well
Tobias added that the boxers opted to leave with their money in cash, and therefore they gave the boxers an option to either wait or fly back to their countries.
It is a process that the stable promoter deems normal and standard in the world of boxing. Tobias noted that in some instances, boxers could wait for their proceeds for up to three weeks.
“In this case, the boxers opted to remain in Namibia to wait for their money in hard cash, and we afforded them a five-star treatment as far as accommodation and other amenities were concerned until they returned to their countries.
“There is therefore no bad blood between us and these boxers because they know that we treated them very well.”
Costly fights
Tobias added that MTC Nestor Sunshine Tobias Boxing Promotions has a clean record when it comes to honouring their payment commitments.
“No visiting boxer to Namibia will ever be mistreated in any way, and that is why Namibia has become Africa’s capital city of boxing, welcoming boxers from across the African continent,” he said.
Tobias revealed that the event was hosted to the tune of N$1.7 million.
He said that a similar event in the past cost them half the amount they are hosting events for today.
Tobias revealed that they have to stage four fights per year because “our champions are by law obliged to defend their titles every four months.” Failure to do so will result in them losing their titles and, subsequently, their world rankings.
Thankful
“This is therefore a long-term investment. Each of the four fights cost us on average N$1.5 million per fight, which translates into a total annual required budget of N$6 million.
“We receive a total amount of N$2.8 million from sponsors – MTC sponsorship: N$2.5 million and PstBet N$300 000 – for which we are totally grateful for.
“This, however, leaves us with a budget deficit of N$3.2 million per annum, which we fund from a combination of our own revenues and loans from financial institutions, which we pay back with interest.”
Tobias has therefore vowed to keep working hard for the benefit of Namibian boxing at all times.
He further lauded all sponsors involved in the last boxing event, including their main sponsor MTC as well as PstBet, who have come on board as a co-sponsor.
Windhoek
MTC Nestor Sunshine Tobias Boxing Promotions has announced that boxers involved in their last boxing bonanza, held about two weeks ago, have been paid.
This comes after several boxers who fought during the event complained that they had not received the money promised to them.
Promoter Nestor ‘Sunshine’ Tobias released a lengthy statement yesterday in which he confirmed that the due amounts have been settled.
“We would like to categorically confirm that all the visiting boxers were paid. “We would also like to categorically state that no foreign boxer was ever stranded in Namibia and having to beg for their money.
“We do, however, acknowledge that there has been a slight delay in processing payment, which is a totally acceptable practice in boxing where visiting boxers would get paid via wire transfer after the fight – with anything between one or two weeks after the fight depending on what was agreed upfront,” the stable announced.
Treated well
Tobias added that the boxers opted to leave with their money in cash, and therefore they gave the boxers an option to either wait or fly back to their countries.
It is a process that the stable promoter deems normal and standard in the world of boxing. Tobias noted that in some instances, boxers could wait for their proceeds for up to three weeks.
“In this case, the boxers opted to remain in Namibia to wait for their money in hard cash, and we afforded them a five-star treatment as far as accommodation and other amenities were concerned until they returned to their countries.
“There is therefore no bad blood between us and these boxers because they know that we treated them very well.”
Costly fights
Tobias added that MTC Nestor Sunshine Tobias Boxing Promotions has a clean record when it comes to honouring their payment commitments.
“No visiting boxer to Namibia will ever be mistreated in any way, and that is why Namibia has become Africa’s capital city of boxing, welcoming boxers from across the African continent,” he said.
Tobias revealed that the event was hosted to the tune of N$1.7 million.
He said that a similar event in the past cost them half the amount they are hosting events for today.
Tobias revealed that they have to stage four fights per year because “our champions are by law obliged to defend their titles every four months.” Failure to do so will result in them losing their titles and, subsequently, their world rankings.
Thankful
“This is therefore a long-term investment. Each of the four fights cost us on average N$1.5 million per fight, which translates into a total annual required budget of N$6 million.
“We receive a total amount of N$2.8 million from sponsors – MTC sponsorship: N$2.5 million and PstBet N$300 000 – for which we are totally grateful for.
“This, however, leaves us with a budget deficit of N$3.2 million per annum, which we fund from a combination of our own revenues and loans from financial institutions, which we pay back with interest.”
Tobias has therefore vowed to keep working hard for the benefit of Namibian boxing at all times.
He further lauded all sponsors involved in the last boxing event, including their main sponsor MTC as well as PstBet, who have come on board as a co-sponsor.
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