Florida Statutes 548.053 – Distribution of purses to participants; statements
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Florida Statutes 548.053
- Commission: means the Florida Athletic Commission. See Florida Statutes 548.002
- Manager: means a person who, directly or indirectly, controls or administers the boxing, kickboxing, or mixed martial arts affairs of a participant. See Florida Statutes 548.002
- Match: means a contest or exhibition. See Florida Statutes 548.002
- Participant: means a professional competing in a boxing, kickboxing, or mixed martial arts match. See Florida Statutes 548.002
- Promoter: means a person or entity, including an officer, director, trustee, partner, or owner of a corporate promoter or promoter partnership, who produces, arranges, or stages a match involving a professional. See Florida Statutes 548.002
- Purse: means the financial guarantee or other remuneration for which a professional is participating in a match and includes the professional's share of any payment received for radio broadcasting and television, including pay-per-view or closed-circuit. See Florida Statutes 548.002
(1) Unless otherwise directed by a representative of the commission, all purses shall be distributed by the promoter no later than 24 hours after the match. A written statement showing the distribution of the purse, including each item of receipt and each expenditure or deduction, shall be furnished to the participant and her or his manager, together with the participant’s share of the purse. The promoter shall retain a copy of the statement, certified by her or him to be correct, with receipted vouchers for all expenditures and deductions, for a period to be designated by the commission, which copy shall be provided to the commission upon demand.
(2) Unless otherwise directed by a representative of the commission, a manager shall furnish to the participant she or he manages a statement of distribution, together with the participant’s share of the purse, no later than 24 hours after the manager receives the purse and statement from the promoter. The manager shall retain a copy of the statement, certified by her or him to be correct, with receipted vouchers for all expenditures and deductions, for a period to be designated by the commission, which copy shall be provided to the commission upon demand.