Famous trainer and mixed martial arts fighter James Krause has found himself at the center of a scandalous fight rigging situation. According to the latest reports, he owes a huge sum of 5 million dollars, which caused a wide resonance in the world of sports.
Many athletes and coaches already find themselves in uncomfortable situations related to betting and casinos. Especially young fighters who are just showing promise suffer. They buy into the promises of sites like topcadcasinos.net, which advertise no-deposit freespins, and start playing illegally. This is why sports associations are trying to shine a spotlight on betting and gambling among athletes in general.
James Krause must pay over $5 million dollars for fake fights
James Krause, a former trainer in the world of mixed martial arts (MMA), has found himself at the center of a scandal with contracted fights and admitted to having huge financial problems. Despite the difficulties, he has not lost his pep in his step and spoke about his recent difficulties amidst his struggles with the real estate world.
According to Krause, his debts exceed $5 million dollars, and he admits that this is a serious amount. Nevertheless, the former coach doesn’t allow himself to be discouraged and continues to move forward. In his Facebook post, he delicately touches on the topic of debts but focuses on his real estate investment plans.
In addition to financial difficulties, Krause has faced an indefinite suspension from the UFC, which has been a major blow to his career. According to reports from the promotion, the FBI has launched an investigation into his possible role in the fighter’s defeat as a result of suspicious betting. These circumstances only add to the difficulties facing the former trainer. In addition, the promotion has notified the fighters that they will not be able to continue fighting if they continue to cooperate with the disqualified trainer.
Krause himself decided to change direction and get into real estate investing. He rebranded his Facebook page and began promoting a variety of real estate projects. And despite the short period of time, the projects have already started making a profit.
During his career in real estate investing, Krause has already sold, remodeled and renovated several properties. He was even able to realize one structure that was originally valued at $239,000.
Sports contract fights and contracts are a rather complicated topic that is often the subject of scandals. For example, in the case of Krause, he mentioned that he receives 10 percent of his fighter’s salary. That’s a pretty high percentage, considering UFC fighters can earn anywhere from $10,000 to $5,000,000 per fight.
The contracts themselves between fighters and their managers, as well as between fighters and the organization, are usually confidential and govern various aspects of a career: salary, bonuses, health care and other parameters. However, as the Krause case shows, sometimes, such agreements can cause scandals and disputes.
In the United States, where sports betting has long been legalized, scandals involving contract fights are not uncommon. Nevertheless, it is important to note that no results of the investigation in this case have been announced yet, and it should be kept in mind that all allegations must be supported by relevant evidence.