Taxes, Fees Net Sergey Kovalev $125K of Initial $500K Earned for Fighting Bernard Hopkins

WATCH the short right hook from @KrusherKovalev that sent @TheRealBHop to the canvas in round 1 - http://t.co/2CSxjHgmUK #ALIENvsKRUSHER

— HBOboxing (@HBOboxing) November 9, 2014

Sergey Kovalev easily defeated Bernard Hopkins via unanimous decision in New Jersey last month, banking $500,000 on paper. But after taxes and fees he’ll ultimately only see a quarter of his purse.

The news comes from comments the IBF, WBA and WBO light heavyweight titlist made to Russian news agency Itar-Tass this week, where Kovalev explained that after he pays what’s required of him to the government, as well as his manager and trainer, he’ll only walk away with $125,000.

For those without a calculator nearby, that’s a net loss of $375,000.

“Taxes are counted at the end of the year and I have to pay all of them. They told me that from my earnings I have to pay 50 percent taxes, plus deduct payments for my manager and trainer,” Kovalev said. “What’s left is about 25 percent of my purse. There’s not a lot of money to wrestle thinking how to spend it. I have my son, Alexander -- all the diapers, clothes -- they cost a lot.”

Luckily for “Krusher,” his win over Hopkins has put him in line for some bigger paydays. The 31-year-old is tentatively scheduled to face Jean Pascal in March, and his promoter Kathy Duva has promised that the money will come.

“Sergey has made it very clear since the moment we signed him that he only wants to fight the best fighters,” Duva said via press release. “I promised after his demolition of Bernard Hopkins that the next one would be for the money.”