Once a month the Irvine Marriott holds boxing matches. I’ve been told that they’re selling out, so it’s apparent that boxing does draw well in California. It’s likely that a major prize fight would also draw well.
Bob Arum is the promoter who will be selecting the location of the Manny Pacquiao vs. Floyd Mayweather Jr. fight taking place next Spring. New York’s Yankee Stadium was already ruled out due to New York’s high taxes. Now, the Staples Center in Los Angeles has also been ruled out.
Why? It’s all about taxes. If the fight were held in California, 8.8% of the prize pool would end up going to California. If the fight were held in Nevada or Texas, nothing would be withheld for state taxes. Nothing beats something (and in this case, a very big something), so the fight won’t be here.
As Bob Arum told the Associated Press, “Staples is not a factor at all. There is no possibility at all of Staples because of California’s tax situation.”
Tags: BozoTaxPreparer