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What do you expect when the top promoter controlling boxing was a chap called Don King. He was definitely no angel and saw boxing as an opportunity to make some serious money. He used charity as a guise to make his first promotion look more legitimate. The funds raised were meant to go to a local hospital in Cleveland and of the $85000 raised they only received $1500.
Unfortunately Don dominated the world of boxing from the late 1970's up until the late 1990's and had some of the best boxers in the world on his books. Muhammad Ali was under Don's spell and would later regret having anything to do with him. Most boxers that worked with Don were screwed along the way.
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Don arrived with Foreman and left with Ali as he was the new champion. This fight was known as the rumble in the jungle fought in Zaire (Congo then).
A standard promoters cut on a contract was 33% and Don would normally take 50% or more. There is a list of well known boxers who never saw anything close to what they were promised in payment. The problem was he controlled boxing and was so powerful he could end your career.
King had a special contract for any boxer wishing to fight against one of his boxers. The paperwork stipulated that if you won you would automatically fall under his wing and be promoted by him. Boxers that refused this found it difficult to obtain fights and this is why most of them eventually agreed.
The IBF President Robert Lee was on Don's payroll and is known to have fixed the rankings favoring Don's boxers. He was rumored to be tied to the underworld with the Gotti family and when questioned by the FBI he pleaded the 5th amendment.At the time the mob was heavily involved with boxing and fights were fixed. They saw this as a big payday and boxers were paid to throw fights in order to be allowed a title shot at some point. This is why some boxing decisions don't make sense and the scorecards just look wrong as the result was never in doubt before the fight and was rigged.
He saw the fighters as a way to a means and to make him hat he was. He often would dazzle the fighters with bags full of cash and notably Muhammad Ali fell for this and dropped a $1 million Dollar lawsuit for a mere $50 000 cash sweetener.
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His last big payday when Tyson scuppered the fight with Holyfield, biting a chunk out of his ear.
He bit off more than he could chew with Mike Tyson as Mike was swindled out of more than $20 million and he hunted Don King down and beat him up.Don King is semi retired today but will always sniff out a buck or two.