City’s past boxing champs offer advice

Past champs suggest Pavlik be nice to fans and careful with his money.

By DON SHILLING

VINDICATOR BUSINESS EDITOR

YOUNGSTOWN — The city’s former boxing champions say Kelly Pavlik has to keep his guard up outside the ring, just like he does inside.

Getting lax could mean the loss of financial security.

Jeff Lampkin knows firsthand.

He said the contracts he signed left him with just $50,000 after winning and defending a cruiserweight world championship belt. He was so frustrated that he walked away from boxing in 1991 while still champion.

“There were some money-hungry people,” Lampkin recalled.

He now works for the City of Youngstown in the street department.

On the flip side is Ray “Boom Boom” Mancini, who speaks brightly of his days as a professional boxer throughout much of the 1980s. He was a world champion lightweight from 1982 to 1984.

“I really enjoyed those days,” said Mancini, who still receives fan mail and does speaking engagements as far away as Europe.

He said his championship days are a pleasant memory because they earned him financial security.

He credited Ed Flask, a local attorney, for creating contracts that allowed him to keep 75 percent of the $12 million in purse money that he won. Local accountant Bill Reali developed a financial plan that allowed him to receive a monthly allowance using only the interest of his investments.

Today, Mancini lives in Santa Monica, Calif., and operates two movie production companies.

Harry Arroyo, who captured a lightweight world championship after Mancini in 1984, said he still receives income from the money he earned as a boxer.

“It worked out OK for me. I just wish I had done as well as Boom Boom,” he said with a laugh.

Arroyo said he works part-time at the Macy’s warehouse in North Jackson so he can have some extra spending money.

The fighters said their job was to know boxing, but being a world champion includes much more. There’s money to manage, complex contracts to sign, and people who want promotion for all sorts of things.

“He’s become Kelly Pavlik Inc.,” Mancini said. “He’s a business entity.”

That can be tricky for someone who only knows fighting, Lampkin said.

He added, however, that he’s not worried about Pavlik being taken by someone shady because of the people in his corner, most notably his father, Mike Pavlik, and trainer Jack Loew.

“Jack ain’t going to let that happen to him,” Lampkin said.

Arroyo said he’s also confident Pavlik has trustworthy people watching his finances but added that Pavlik also has to be careful when dealing with fans.

“You can’t shut them out — even one time will turn things against you,” he said.

On the other hand, the former champs said public demands can be overwhelming.

Mancini said fame shocked him for the first time when his promoter sent him to Italy shortly after he won the title. He said he couldn’t believe that people in another country were so excited to meet a kid from Youngstown.

“You can’t comprehend the power of television,” he said.

Mancini’s recommendation for handling demands from the public:

Never say “no” to anyone but never say “yes” either.

The best answer is, “You’ll have to talk to my people” and then hand out a business card with contact information, Mancini said.

Besides the public, the other big issue for new boxing champions is controlling how they spend their money, he said.

Once their payouts grow, boxers often increase both their training and personal expenses, he said. The earnings usually don’t last long, but the expenses are still there, he said.

Mancini, who bought a condo in the Mahoning Valley while he was still boxing, advised against buying a luxury home and showpiece car.

“You can’t get carried away spending $75,000 or $100,000 on a car. Spending $50,000 is enough,” he said.

Mancini has one last piece of advice for Pavlik:

Don’t spend so much time worrying about money and your next opponent that you miss what’s happening around you.

“You have to understand that this is borrowed time,” Mancini said. “You’re in the light now, but the light will move on. You have to enjoy it now.”

shilling@vindy.com