LAS VEGAS – UFC parent company Zuffa LLC made headlines earlier this month when it announced a new accident-insurance policy for the 350 or so fighters under its umbrella.
The move was not only seen as measure of its commitment to protecting the health and safety of its fighters both in and of the cage, but a strong counter to talks of unionization that heated up in the wake of the company's purchase of rival promotion Strikeforce.
Today, UFC president Dana White took a cue from former light-heavyweight champion Quinton Jackson to express his openness to the idea of a pension fund for retired fighters.
Jackson, who meets Matt Hamill in the main event of Saturday's UFC 130 event, said his insistence on providing a good life for his family after his fighting career has been informed by athletes who had not been wise with their money.
"I look up to Mike Tyson, big time," Jackson said. "A lot of fans didn't understand when I said I want to move on and do other things after fighting. Honestly, fighting is a great job. The UFC's done so much for me, and it's been a great organization to be a part of.
"If Dana would pay me every month after I retire, than I (would) fight a little longer. It just don't work that way. I see a lot of pro wrestlers and football players and boxers that don't have anything.
"I have kids to look after, and I want to put some of my kids through college, and I know some of my kids I'm going to need lawyer fees for them."
Jackson, 32, said he plans to retire at 35, though he'll fight longer to assure his future. White, however, hopes the UFC eventually can create an environment in which fighters don't have to fight past their prime out of necessity.
At the same time, the idea of a safety net for an inherently unstable career may not be realistic at this point.
"If we can figure out something for a fighter pension, that's something we'd love to do," White said. "But it goes right along with, 'What do you think about a fighter's union?' That's up to the fighters. That's not up to me. I [couldn't] care less. It doesn't matter to us."
For now, the UFC is focused on educating its current fighters on how to manage their money. It's one of many issues addressed at the promotion's annual fighters summit – ideally, a way of heading off trouble before it surfaces.
"Listen, you fight and you make one million dollars," White told MMAjunkie.com (www.mmajunkie.com). "You're like, 'Holy [expletive]. I have a million dollars.' No, you don't. These guys pay a percentage to this guy, a percentage to that guy. The government comes in and takes half of what you made.
"Then the end of the year comes, and ... you owe [$1.5 million] in taxes. But you went out and bought a house, bought some cars, went on some trips. The next thing you know, you're broke."
White said he'd heard that former boxing champion Roy Jones Jr., who at 42 was knocked out this past week in Russia, is paying a portion of his fight purse to the IRS.
"We're trying to prevent a situation where guys retire and they retire with nothing," he said.
There is, however, an inherent problem to making the UFC responsible for a pension, White cautioned. A big disparity exists between the top earners and those who are lucky to take home $60,000 year. Getting top-tier fighters to give away a greater portion of their paychecks is a tough sell. This, after all, is prizefighting, and fighters want the entire prize.
"Let me tell you what – fighters don't want to share with anybody, and fighters don't want us taking a piece of their money," White said. "Taking some out and saying, 'We're going to put it over here and invest it for you.' Guys are like, 'I need all that money, and I want it now.'
"So it sounds like a great idea, and it sounds like something to do, but it's a lot harder than people think."
White, however, is not adverse to a fight, especially when it comes to causes he feels are just. Although a pension might not be feasible at this point in the promotion's history, it might be later on. The promotion just passed a major milestone in making sure its athletes aren't sacked with medical bills in the event of injury. A workable solution to a financial security could be the next big challenge to tackle.
Source: http://mmajunkie.com/news/23737/dana-white-ufc-open-to-pension-program-for-retired-fighters.mma