Muhammed Ali, the biggest name is sports and maybe in the world, has taken the sport of boxing to a spectrum of it's own, by making it entertainment. Mainstream fans who never follow the sport would come out in massive numbers just to see Ali train or walk into airports or bus stations. His charismatic flare and charm warmed over the hearts of the people, plus he was an amazing fighter. Unfortunately, Ali fought too long in the sport, and mainly because he was taken advantage of by managers and promoters, like many other fighters.
In 2000, an act that has been worked on for over 20 years. The Muhammad Ali Boxing Reform Act, was passed which separated promoter from manager legally. Pat English, a prominent boxing lawyer who helped draft the legislation, said it was intended to clearly separate promoters and managers.Promoters assume the financial risk for an event, select the site, rent the ring and pay insurance. The less they pay any one fighter, the more they make. The manager is beholden to an individual boxer, not the card. In practice, the two should act as a counterbalance.
Click here to Read the Muhammed Ali Boxing Reform Act http://www.ftc.gov/os/mabra/aliact.pdf