Nevada Regulators Say Berbick Received Only One-Third of Purse After Tyson Bout
Former heavyweight champion Trevor Berbick received only $700,000 of his $2.1-million purse for fighting champion Mike Tyson, with $1 million of the money going to promoter Don King and his son, Carl, state boxing regulators said Friday.
Half of the $1 million went to pay advances improperly made to Berbick by King, while the other $500,000 went to Carl King as Berbick’s manager, members of the Nevada State Athletic Commission said.
Another $400,000 was attached by the Internal Revenue Service for back taxes.
“The kid signed for $2.1 million, and I can guarantee you, we don’t know if he got it,” Commission Chairman Duane Ford said.
Ford said even the remaining $700,000 may not have gotten into Berbick’s hands because it was put in a letter of credit at a Miami bank. He said commissioners have no way of knowing if Berbick ever kept the money, even though the letter of credit was in his name.
Berbick was knocked out in the second round of the November fight, losing his World Boxing Council title to Tyson.
Commissioners expressed concern over the $500,000 paid to Don King for advances reportedly made to Berbick and also the manner in which Carl King got his money.
Carl King has come under fire lately for managing a string of heavyweights. Critics of Don King contend that Carl King is used as a front to collect money from fighters so Don King can, in substance, cut their purses.