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19th May 2024
01:16pm BST
Tyson Fury could lose half of his prize money following his loss to Oleksandr Usyk, according to reports in the UK.
Usyk claimed victory in Saudi Arabia last night when he defeated Fury by split decision after a gruelling twelve rounds, in which many viewers believed the Ukranian had outperformed the Morecambe fighter.
Last night's win makes Usyk the undisputed heavyweight champion of the world and, regardless of the result, both fighters are in line for a hefty pay out.
However, according to financial analytics site Stocklytics, Fury could end up losing a large chunk of his share due to tax and national insurance laws in the UK.
According to the site, Fury would have to pay over £44m in income tax and around £2m in national insurance if he was to earn £100m from the boxing match.
This would leave him with just over half, around £53m, of what was originally and £80m (€93.4m) purse.
A spokesperson for the company revealed: "If you are a resident in the UK you have to pay tax on overseas earnings in the same way, and that remains the same no matter how much someone might earn.
"Good tax advice is always important and in this case you can be sure the Fury camp will have looked at an agreement that would be the most beneficial."
One potential way around it for Fury would be to donate some of his earnings to charity.
"You can offset some money by making a charitable donation, and there is a suggestion Tyson Fury will be making a £1million gift to support Ukraine charities, which would reduce his liability a little," the spokesperson added.
The potential is also there for Tyson to get back into the ring with Usyk for another big payout.
Fury and Usyk have a stipulation in the fight contract that makes a rematch mandatory if both parties agree.
In the ring, Fury had said of Usyk: "His country is at war. So people are siding with someone whose country is at war. I won that fight."
Usyk on the other hand, who was gracious and humble in victory, said: "Thank you so much to my team. It’s a big opportunity for my family, for me, for my country. It’s a great day."
Later, at the press conference, having returned from hospital, he added: "Since 2008 I was planning for this. It’s not for me. It’s for my God, my supporters, my country, the Ukrainian soldiers, Ukrainian mothers and fathers, children.
"But now I want to go to my home, I want to rest, and take a break," he said. The Ukrainian added: "I want to eat, sleep, kiss my wife."
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