Why does Castillo need money?

[Quik]

I keep hearing on other threads that the man needs money but why? Its not like he didn't make some good pay days in his career....Does he have a gambling problem or something:think?

[bxrfan]

Did you hear all the stuff with the third Corrales and the Hatton fight?

[El Presidente]

Did you hear all the stuff with the third Corrales and the Hatton fight?wut really happened in the third fight agaisnt Corrales and the Hatton fight?

[Quik]

Did you hear all the stuff with the third Corrales and the Hatton fight?
Nope can you elaborate....

[Thread Stealer]

Boxers don't get paid that much.

So he made a few nice paydays. Big deal.

He got like 300k, gross, for the 1st Corrales fight. Let's say he makes a lot more for the rematch, a mil, got some paydays for the Mayweather fights, and got some decent money from the Mexican TV broadcasts.

How much of it does he actually take home? After fees and taxes, he doesn't take home THAT much. Then he had to pay that large fine for not making weight.

Boxers are not known for being the smartest people with their money, I might add.

[Quik]

Boxers don't get paid that much.

So he made a few nice paydays. Big deal.

He got like 300k, gross, for the 1st Corrales fight. Let's say he makes a little more for the rematch, got some paydays for the Mayweather fights, and got some decent money from the Mexican TV broadcasts.

How much of it does he actually take home? After fees and taxes, he doesn't take home THAT much. Then he had to pay that large fine for not making weight.

Boxers are not known for being the smartest people with their money, I might add.
Ok but I don't hear that often about other boxers needing money...I mean i read that in like 5 different threads today... So there must be something else...

[Thread Stealer]

Ok but I don't hear that often about other boxers needing money...I mean i read that in like 5 different threads today... So there must be something else...

Mike Tyson filed for bankruptcy.

So did Riddick Bowe.

Iran Barkley made millions during his career and he lives in the projects.

Beau Jack headlined more MSG fights than any other fighter and ended up shining shoes.

Joe Louis ended up in serious debt with the IRS.

Sonny Liston died without much money.

Wilfred Benitez was discovered when his career was over, homeless, in South America.

Roberto Duran, well, it's not too clear exactly what his financial status is, but mostly everyone agrees that he spent way too much money.

Gerald McClellan's family has financial trouble, especially with the medical bills, and Roy Jones helps them out.

Diego Corrales's family has financial problems. Chico had money problems toward the end of his life, disputes with Gary Shaw, and was getting sued for underpaying Dan Goosen (probably because he couldn't afford to properly pay him).

Carl Williams, after his career as a HW contender was over, was barely getting paid minimum wage as a security guard.

When Ray Robinson's career was over, they gave him a nice trophy at MSG honoring his career. He then took it home to his barely furnished apartment.

I can go on and on with these types of stories for boxers.

[Quik]

Mike Tyson filed for bankruptcy.

So did Riddick Bowe.

Iran Barkley made millions during his career and he lives in the projects.

Beau Jack headlined more MSG fights than any other fighter and ended up shining shoes.

Joe Louis ended up in serious debt with the IRS.

Sonny Liston died without much money.

Wilfred Benitez was discovered when his career was over, homeless, in South America.

Roberto Duran, well, it's not too clear exactly what his financial status is, but mostly everyone agrees that he spent way too much money.

Gerald McClellan's family has financial trouble, especially with the medical bills, and Roy Jones helps them out.

Diego Corrales's family has financial problems. Chico had money problems toward the end of his life, disputes with Gary Shaw, and was getting sued for underpaying Dan Goosen (probably because he couldn't afford to properly pay him).

Carl Williams, after his career as a HW contender was over, was barely getting paid minimum wage as a security guard.

When Ray Robinson's career was over, they gave him a nice trophy at MSG honoring his career. He then took it home to his barely furnished apartment.

I can go on and on with these types of stories for boxers.

:good

[Scotty78]

I wondered that too , heres a article after the hatton fight

[Only registered and activated users can see links]

Castillo's financial problems aren't over, either. Out of his $500,000 purse, he has to pay promoter Bob Arum back $100,000 he was advanced to cover the remainder of the fine from Nevada officials as well as a $125,000 advance he got from Arum. After he pays his corner, taxes and sanctioning fees, he won't be left with much.

[Bodysnatcher]

Shaw and Goosen seem like exceptionally unpleasant characters.

[4Rounder]

I keep hearing on other threads that the man needs money but why? Its not like he didn't make some good pay days in his career....Does he have a gambling problem or something:think?
Castillo had to pay a fine for not making weight in the rubber match with Corrales. Then he was sued by the leeching snake Gary Shaw for millions of dollars in loss for canceling the fight. Shaw was also screwing Corrales at the time.

With the Hatton fight he was basically fighting to pay his debt only and even then Shaw tried to withold his purse to make sure Castillo didn't go home with anything, which would have given Castillo more problems if he had pulled out of the Hatton fight if he was gonna fight for nothing. But thankfully Shaw's plan failed.

Castillo is not homeless by any means, he is doing ok in Mexico, he just had a lot of debts. I don't know if he has paid them all though.

[TRUEBELIEVER 66]

Dosen't Castillo live in Mexico?? with the Money he has made during his career, he should be very comfortable living in Mexico wher the cost of living is much-much lower than in the U.S, I CAN'T UNDERSTAND WHY THESE BOXERS ARE SO BROKE, they should take lesson's from Larry Holmes, George Foreman and Sugar Ray Leonard, on how to invest Money and live after their boxing careers are over..

[faisal]

high paid boxers buy alot of property and have alot of shares, onces there finished there unable to pay the bills for all those lavish country clubs and villas there shares fall and there left with a Mil or 2

[auggiewest]

too many botanas