|Sportswire||Dec 29 2016|
The National Police Gazette asks on a cover from this month in 1950 “What Will Happen to Joe Louis?” It's a poignant question. Louis had earned more than $4 million during his boxing career (about $40 million in 2016 money), but thanks to predatory managers and slimy handlers had received only about $800,000 of it. However, his gross earnings left him with a huge tax bill, forcing him to fight past his prime in an attempt to pay off the debt. In September 1950 he met Ezzard Charles and was thrashed. For his pain he earned just over $100,000—not nearly enough to pay off the government. Left with no choice, he decided to shoot for another big payday. First he notched several wins again club level fighters, then booked a bout against another top boxer. That boxer was twenty-seven year old Rocky Marciano, and the meeting ended with Louis being knocked clean out of the ring. So, getting back to the Gazette's question: "What will happen to Joe Louis?" What happened is he retired and became an exhibition fighter, still carrying that heavy debt, and he never paid it off.