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Thread: Hendricks pays 50% of earnings to management

  1. #1
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    Default Hendricks pays 50% of earnings to management

    Hendricks pays 50% of earnings to management
    http://www.mixedmartialarts.com/news...to-management/
    Most managers take a fee for their service, some 10%, some 20%, but now UFC champion Johny Hendricks has a unique arrangement with his management team:

    They called it "an educated lottery" and Team Takedown hit the jackpot combination last Saturday when its client, Johny Hendricks, captured the UFC welterweight championship in Dallas.

    Team Takedown was a simple, if not ambitious, concept when it launched in March 2007: fund and manage an aspiring fighter's journey from day one all the way up to a UFC title, with a 50-50 split in profits.

    "Our thought process was we could take a high-level wrestler and give them a place to live, a car allowance, health and dental insurance, a weekly paycheck so they could train -- and then they'd have a really good shot of getting to the top," said Team Takedown founder Ted Ehrhardt.

    Ehrhardt started the management company with his brother Doug and close friend and business partner, Tim McBride. The trio have funded the venture for seven years with revenue from a fire sprinkler company they own together.

    In addition to living expenses, Team Takedown also foots for the smaller things, like flying trainers and relatives to fight events. The company also owns the Velociti Fitness gym in Pantego, Texas, providing a homebase for the Team Takedown fighters. All together, Ehrhardt estimates that funding each fighter (and his family) costs the company around $100,000 a year.

    Thus far, Team Takedown's seven-year investment has been upwards of $4 million. Ehrhardt said the company breaks even with an individual fighter when the yearly intake from purses, sponsorships and other revenues reaches $200,000. And probably most appealing to the fighter is that he doesn't have to retroactively pay back what Team Takedown invested before it started hitting that profit mark.

    Of course, the real profit comes if and when a Team Takedown fighter can win a UFC championship.

  2. #2

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    Interesting. I don't see this as ripping Johny off as they made these terms with everyone before they were remotely anything. Some pay off, some don't. Pretty much, only Johny has paid off. The next best is Jared Rosholt, who in my opinion is very green.

  3. #3
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    Quote Originally Posted by Dr. MMA View Post
    Interesting. I don't see this as ripping Johny off as they made these terms with everyone before they were remotely anything. Some pay off, some don't. Pretty much, only Johny has paid off. The next best is Jared Rosholt, who in my opinion is very green.
    If he wasn't successful or even moderately successful it would actually be a rip off for them.

  4. #4
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    I'm curious cause the article is a little unclear on how long this sort of contract lasts for the fighter.

    Wonder what happens for instance say now that Hendricks is champ and he wants to move on to a different camp

  5. #5
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    didnt hendricks just sign a new deal with the UFC today or yesterday?

    September 27, 2014

  6. #6
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    At first sight, the header gives the feel of a Don King kind of ripoff... but after reading it, it is a big gamble for the managers... so if a fighter makes 200K a year they break even... I wonder how many fighters in their roster are over that mark...

  7. #7

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    Quote Originally Posted by BonesKnows View Post
    didnt hendricks just sign a new deal with the UFC today or yesterday?
    He did, but that has nothing to do with how he pays his managers.

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    Forever.

  9. #9
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    Innovators or bad investors...

  10. #10

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    So what's the over/under on how long it takes Johny to try to get out from this contract?

    If he's still champion by this time next year [and my over/under on that is way under] I bet he wants to be done with them.

    rh
    All manner of men came to work for the News: everything from wild young Turks who wanted to rip the world in half and start all over again -- to tired, beer-bellied old hacks who wanted nothing more than to live out their days in peace before a bunch of lunatics ripped the world in half.

    Dr. Hunter S. Thompson
    The Rum Diary

    wait....did you just say Genki Sudo unretired?

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