Tyson Fury is set to lose nearly half of his £60 million earnings from this weekend’s heavyweight rematch against Oleksandr Usyk through tax deductions.
The Wythenshawe-born boxer will face an immediate £28 million tax bill following the Saudi Arabia bout on Saturday night.
The massive deduction will see the former heavyweight champion’s take-home pay reduced to £31.8 million after UK tax regulations are applied to his overseas earnings.
According to calculations by JeffBet, £26,986,203 will be taken from Fury’s purse as income tax contributions.
Tyson Fury will lose a substantial amount to the taxman after his Oleksandr Usyk fight
Reuters
A further £1,202,010.60 will be deducted for national insurance payments, which help fund the NHS and pensions.
These tax obligations apply to Fury’s earnings despite the fight taking place overseas, as UK residents must pay tax on foreign income at the same rates.
The deductions mean the ‘Gypsy King’ will be left with a final take-home amount of £31,811,786.40.
The rematch follows Fury’s first career defeat to Usyk in May, where he missed out on becoming the first undisputed heavyweight champion since Lennox Lewis.
Usyk has since vacated the IBF belt after choosing to pursue the rematch with Fury rather than face mandatory challenger Daniel Dubois.
Both fighters are hoping this second bout could lead to a trilogy, with Fury seeking revenge against the Ukrainian who claimed his WBC, WBA, WBO, and Ring Magazine titles in their first encounter.
Stream the long-awaited rematch between the two best heavyweights in the world, Fury vs Usyk. The clash will see Tyson Fury aim to avenge his first-ever professional loss, as he fights Oleksandr Usyk in Riyadh, Saudi Arabia for the second time in a year. DAZN lets you stream across a range of devices, from iPhone, Android, iPad, Fire TV Stick, Roku, Samsung TVs, and many more. New users qualify for a 7-day free trial too. The fight is also available to stream via Amazon’s Prime Video service and TNT Sports too
Tyson Fury and Oleksandr Usyk will fight it out on Saturday night
Reuters
A spokesperson for JeffBet explained: “If you are a resident in the UK you have to pay tax on overseas earnings in the same way, and that remains the same no matter how much someone might earn.”
“Good tax advice is always important and in this case you can be sure the Fury camp will have looked at an agreement that would be the most beneficial,” the spokesperson added.
Tyson Fury was set to bank £60million after his fight against Oleksandr Usyk
Reuters
The heavyweight clash is set to take place on December 21 in Saudi Arabia.
Fight fans can watch the bout on DAZN pay-per-view for £24.99, which includes a seven-day free trial of the streaming service.
The event will also be available on Sky Sports Box Office for £24.95, while TNT Sports subscribers can access it through Prime Video with a discovery+ subscription.
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