Eddie Hearn’s offer to Deontay Wilder demonstrates fear
Several media outlets have reported that Anthony Joshua’s promoter, Eddie Hearn, offered Deontay Wilder $12.5 million for a championship showdown.
On Wednesday, April 11, The Daily Telegraph reported that Eddie Hearn offered Deontay Wilder $12.5 million to fight Anthony Joshua in the U.K. The report also states that the offer was a flat fee. This offer is not only insulting, but it demonstrates Hearn’s lack of desire for the creation of this bout.
Numerous pundits and websites, including The Daily Telegraph’s Report, estimate that a matchup between Wilder and Joshua could generate more than $100 million. Wilder’s team requested a 60/40 split in which they would be willing to take the 40 percent.
Wilder’s request is more than reasonable considering rumors on how money was distributed between Anthony Joshua and Joseph Parker in Joshua’s previous bout. While the exact figures have not been reported, The Daily Telegraph originally estimated that Parker would be paid around $18.5 million. This number is estimated to be about 30-40 percent of the amount generated by the bout.
Hearn has cast doubt on the accuracy of Parker’s purposed earnings for his fight with Joshua. One of his tweets insinuates that Parker earned less than the $12.5 million offered to Wilder.
Where an earth do you get that Parker purse from 😂
— Eddie Hearn (@EddieHearn) April 11, 2018
Arguably, a matchup between Wilder and Joshua is the most desired fight in all of boxing. Joshua is able to draw more than 80,000 fans into U.K. arenas. Wilder proved in his fight with Luis Ortiz that he is able to command a large American TV audience. The Showtime broadcast of the fight peaked at 1.2 million viewers according to Nielsen Media Research via BoxingScene.com.
Joshua’s performance against Parker was anti-climactic, but he possesses the majority share of the heavyweight title. Wilder has the WBC title and his performance against Ortiz was exciting and impressive.
Joshua commands much more money per fight than Wilder does. It’s conjectured that Joshua has made more than $20 million dollars for a single fight. According to ESPN, Wilder earned $2.1 million for his fight with Ortiz.
Wilder’s co-manager, Shelly Finkel, rejected Hearn’s $12.5 million offer.
“We will respond appropriately in the next day or so with our counter offer. If Joshua is serious, we will take the fight,” stated Finkel to The Daily Telegraph.
Some boxing fans on social media have attacked Wilder and his team for rejecting Hearn’s offer. It’s true that Wilder has never earned nearly as much as Hearn offered, but he’s never been in a fight with the earning potential of this one. The same can be said for Joshua.
Wilder and Joshua need each other in order to command a mega-fight deal. Joshua has done incredibly well in the past, but he can triple his earning potential in a bout with Wilder.
If Wilder accepted Hearn’s offer, he could potentially de-value himself to roughly 12 percent of the total purse. Joshua’s name has more earning power than Wilder’s, but together they break the bank. Signing a fight at a 60/40 split is a win-win for both boxers, but Hearn doesn’t believe this.
Hearn’s offer to Wilder was all for show. He and Joshua are under pressure from boxing fans to make a fight with Wilder. Hearn knew his pitch to Wilder would be rejected. He’s trying to frame fight talk narratives in a context that puts him and Joshua in the best light.
Hearn’s offer allows him to boast that he has given Wilder the most lucrative deal of his career. It allows him to mask the enormous revenue that this fight can generate. In reality, this deal proposes Wilder peanuts in comparison to what Joshua could earn.
Hearn doesn’t want Joshua to fight Wilder next because Wilder is a legitimate threat. He stated more than a month ago that Jarrell Miller is a possible opponent for Joshua in his next bout. Hearn knows that Miller would be an easy payday for Joshua and himself. Miller also has a promotional deal with Hearn.
If Joshua immediately jumps into a deal with Wilder, he runs the risk of losing. This would significantly damage his earning potential for the remainder of his career. He can have a safe fight against Miller first.
Hearn would be the biggest winner in this scenario because he wouldn’t have to split generated revenue with another promotional company. He’s purposefully sabotaging negotiations with Wilder’s team to push their fight back long enough to get some lucrative, easy paydays in before Joshua’s longevity is threatened by Wilder.
Hearn is a promoter and he is playing a financial game that he thinks will fill his pockets the most. He’s trying to throw Wilder and his team under the bus in order to cloak his true intentions of putting off Wilder for at least one more fight.
Next: Canelo-GGG rematch off after Alvarez withdraws
Ultimately, fight fans are the ones losing in these negotiations. Hearn needs to be careful or else he might become the new face of greed in boxing.