British heavyweight Tyson Fury is set to experience a substantial reduction in his earnings from his rematch against world champion Oleksandr Usyk. Financial details reveal that Fury’s first US$76.1 million in earnings from the fight will be almost halved due to compulsory tax and National Insurance deductions imposed by the UK.
In the rematch, part of a prize pool of $190 million, Oleksandr Usyk, the current WBA, WBC and WBO champion, will receive 60% of the total purse, equivalent to about $114 million. On the contrary, Tyson Fury’s share is 40%, which amounts to US$ 76.1 million. However, this figure is significantly affected by UK tax obligations. According to bookmaker Jeff Bet’s projections, Fury is expected to hand over £28.19 million ($35.7 million) in taxes. This includes £26.99 million in income tax and £1.2 million towards National Insurance contributions, leaving you with around £31.81 million ($40.3 million).
Data provider Jeff Beth emphasized the inevitability of these tax liabilities for UK residents earning substantial overseas income. He said to Daily Mail“If you are a resident of the United Kingdom, you have to pay tax on overseas earnings in the same way, and that remains the same, no matter how much someone might earn. Good tax advice is always important and in this case, you can be sure that the camp of Fury looked for an agreement that would be the most beneficial.
Despite the significant tax burden, Fury’s earnings remain substantial. In their initial May 2024 fight, Fury earned $103 million from a 70% share of a $147 million purse, while Usyk received $44.4 million from his 30% stake. Fury’s strong brand recognition and marketing have positioned him as a leading figure in the heavyweight division.
