Boxer Terence Crawford’s Promoter Owes Cut to Predecessor

Welterweight champion Terence Crawford’s promoter Top Rank Inc. must pay a percentage of Crawford’s purse for each title defense it promotes to the fighter’s previous promoter whose contract the company bought out, the Eighth Circuit said.

The plain language of the agreement between Top Rank and TKO Boxing Promotions LLC requires Top Rank to pay TKO 8% of Crawford’s purse for each title defense, the court said.

It doesn’t limit Top Rank’s obligation to the term of the original contract between Crawford and Top Rank, which expired in July 2016, the court said.

The agreement between TKO and Top Rank ...