British heavyweight Tyson Fury is set to take a significant cut in his earnings from his rematch with world champion Oleksandr Usyk. The financial details reveal that Fury’s initial earnings of $76.1 million from the fight will be nearly halved due to mandatory tax and national insurance deductions introduced by the United Kingdom.
In the rematch, part of a lucrative $190 million prize pool, Oleksandr Usyk, the current WBA, WBC and WBO champion, will receive 60% of the total purse, equivalent to approximately $114 million. Conversely, Tyson Fury’s share stands at 40%, amounting to US$76.1 million. However, this figure is significantly affected by UK tax liabilities. Fury is expected to pay £28.19 million ($35.7 million) in tax, according to estimates from bookmaker Jeff Bet. This includes £26.99 million in income tax and £1.2 million for national insurance contributions, leaving him with around £31.81 million ($40.3 million) in the end.
Data provider Jeff Beth highlights the inevitability of these tax obligations for UK residents earning significant overseas income. He said Daily Mail“If you are a UK resident, you have to pay tax on overseas earnings in the same way, and it remains the same regardless of how much someone may be earning. Good tax advice is always important and in this case you can be sure that the Fury- camp looked at an agreement that would be most beneficial.”
Despite the significant tax burden, Fury’s earnings remain substantial. In their initial May 2024 fight, Fury earned $103 million from a 70% share of a $147 million purse, while Usyk received $44.4 million from his 30% stake. Fury’s strong brand recognition and marketability have positioned him as a leading figure in the heavyweight division.
