AMERICAN BOXING ASSOCIATION LAUNCHES AMERICAN BOXER RETIREMENT INITIATIVE
GLENDALE, CALIFORNIA – The American Boxing Association (ABA) is excited to launch the American Boxer’s Retirement Initiative, with the goal of helping fighters to invest in themselves. Until now, professional boxing has been the only sport in the United States that does not have a nationwide pension plan that covers athletes after they retire. Boxing isn't just a way of life for a professional. Boxing is life or death for them, yet many ex-fighters find life outside the ring harder to deal with than a life without the structure and routine that training provides.
Some boxers frivolously dwindle their wealth at the peak of their careers, only to face a harsh reality when they pass their primes. Without a nest egg to sustain their families, many are forced into a career change. As Floyd Mayweather Jr. told the Guardian's Donald McRae, "Boxing is real easy. Life is much harder."
The American Boxing Association is proud to announce to all American boxers that we are offering to waive the standard sanctioning fees on title fights in order to encourage them to plan for the latter years of their lives. The Association of Boxing Commissions, and the Professional Boxers' Assistance Foundation have raised a lot of money to help one down and out fighter per year receive retirement benefits, but the American Boxing Association felt that this is a need across boxing. “Every fighter can benefit from having the advice of a trained financial advisor,” said James Hagler, President of the American Boxing Association. “We want to help fighters invest in themselves.” The American Boxer’s Retirement Initiative will provide professional boxers with access to an independent financial planner, and the fighters’ fees will be reinvested in their future by covering all the setup costs associated with a 401k.
Ex-boxers like Riddick Bowe and Tony Tucker have become members of the ABA to help foster the next generation of American boxing champions. “I want to help prevent athletes from being exploited by managers, family, friends and as well as their own weaknesses,” said Bowe.
Evander Holyfield believes the initiative to provide financial and medical assistance to up-and-coming boxers will revolutionize the sport. “I really want to thank James Hagler, President of the American Boxing Association for his efforts to improve the sport and protect the fighters." Holyfield went on to say that he was inspired to become a boxing promoter so that he could do right by his fellow boxers. Hagler and Holyfield share the same vision for American boxing. “We not only want what's best for them during their careers, but we want what's best for them beyond their careers.” said Holyfield.
For more information about the ABA, or to register with the American Boxing Association, visit www.ababoxing.us.