Chris Eubank Jr and Conor Benn could lose half their prize money from fight
Chris Eubank Jr and Conor Benn will earn millions for their middleweight dust-up - but will likely then have to hand over almost half in tax.
The highly-anticipated showdown will take place at the Tottenham Hotspur Stadium in London on Saturday night. Eubank Jr comes into the bout off the back of a devastating knockout win over Kamil Szeremeta back in October, while Benn defeated Peter Dobson in his last outing.
There is a real animosity between the pair, having been thrown into a family feud following their fathers' two historic fights in 1990 and 1993. The fight was due to take place back in October 2022, but the bout was cancelled after Benn failed a drugs test. 'The Destroyer' has since had his suspension lifted and has been cleared to fight in the UK.
With millions set to tune in, both men are set to be rewarded handsomely for their efforts in the ring. The total fight prize money for the main event is reportedly £15 million - with the pot split down the middle to ensure both men earn £7.5m. However, the fighters are set to suffer a huge financial loss as they will have to cough up a large chunk of their purse to the tax man.
The HMRC were quick to get on Anthony Joshua's case ahead of his defeat to Daniel Dubois last September. Two-time heavyweight champion Tyson Fury suffered the same fate in his rematch with Oleksandr Usyk. It was reported the Brit was expected to pay an estimated £35,250,000 in deductions, according to data collected by JeffBet.
Speaking about the jaw-dropping financial loss for Fury, a spokesperson for Jeff Bet said: "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."
Eubank Jr's last reported net worth was £5m. That said, it's likely to have changed given the fact that he claimed around £2.4m for his bouts against Liam Smith. With 'Next Gen' set to earn the biggest payday of his life, the 35-year-old revealed how he came to agree his fight purse with Turki Alalshikh.
'Many of you would have heard Eddie boasting about a 60-40 split he secured for Conor,' he said. 'That's just an absolute lie, which is not surprising. The truth of it is, Uncle Turki flew in and saved the day like the superhero he is. This is the Saudi show, he called me and said, 'What do you want to make this fight?' I'm sitting there thinking, 'I've got to be a businessman now, and any good businessman in any negotiation, starts with an aggressively high number, then there are counter offers and negotiating and you get to the number.
'I gave him a diabolical number, I gave him an inconceivable number, and he said, 'Done, I'll send you the contract on Monday.' I'm thinking I could have got more, or a couple of watches out of him! 'There is no split, there are no percentages, you lied to the public in front of everybody and now I'm setting this straight.'
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