Balmoral Group preaches commercialisation as key to boxing success
World heavyweight boxing title contender, Efe Ajagba, has advised Nigerian boxers to be mindful of the wordings of any contract presented to them before signing off such.
Ajagba is one of the top contenders in line to challenge world champion, Oleksandr Usyk, for the prized crown.
Usyk, at the weekend, knocked out Britain’s Daniel Dubois in the fifth round to retain the title he won by beating Nigeria’s Anthony Joshua a couple of years ago.
Speaking at a pro-boxing masterclass organised by the Balmoral Group Promotions, where he was the special guest, Ajagba shared his experience of signing a bad contract before later realising the need for proper guidance and direction.
He warned Nigerian boxers against jumping into contracts without proper advice, regardless of the economic hardship in the country.
“I once signed a wrong contract as an inexperienced boxer and it was later that I got the courage to switch it.
“No matter what happens though, delay cannot stop you if you have that passion inside of you,” he said.
At the masterclass, Balmoral Group Promotions, a leading boxing promotion company, stressed the importance of commercialising the sport to drive its growth and development.
The company’s Chief Executive Officer, Dr. Ezekiel Adamu, explained the importance of coaches demanding payment for their services and promoters charging the right fees to create wealth and sustain passion in the sport.
Adamu noted that the current practice of training boxers for free was unsustainable, adding that coaches should be paid for their services to enable them deliver their best.
“We need to make boxing a great business in Nigeria and Africa, and it starts with everyone of us. Coaches should charge money for training boxers, and promoters should charge the right money to engender a sense of commercialisation in the value chain.”
Also speaking at the event, a legal consultant and commercial lawyer, Uzoamaka Orakwue, who spoke on the business and law aspects of boxing, advised boxers to seek personal development in education and literacy to avoid signing unprofitable contracts.
She stressed the importance of having responsible managers, who would protect the interests of boxers.
She said that boxing could be a great tool for Nigeria’s youth development, noting that it could also help the youth to avoid unnecessary troubles, including crimes and drugs.
“The most important is the business of boxing. Education is not a scam and our boxers and other sportsmen in Nigeria need to also get education which will help to protect them when it comes to contracts and self development.
“Passion alone will not pay your bills,” she said.
She also educated boxers on managers and contracts they sign during the course of their careers, advising them not to settle for short term benefits.
In his submission, the president of the Nigeria Boxing Board of Control (NBB of C), Dr. Rafiu Ladipo, warned that the body would no longer allow boxers to fight without a manager or proper contracts.
He emphasised the need for boxers to have responsible managers who would sign contracts on their behalf.
Ladipo thanked Balmoral Group Promotions for championing a new phase of boxing in Nigeria and appealed for cooperation between the NBB of C and boxers.