Marvelous: The Marvin Hagler Story by Brian Hughes & Damian Hughes

Author:Brian Hughes & Damian Hughes [Hughes, Brian]
Language: eng
Format: epub
Publisher: Pitch Publishing Ltd.
Published: 2013-10-01T04:30:00+00:00

The Build-Up To The Duran Confrontation

DURING THE summer months, Hagler took stock of his financial affairs and declared himself happy with all but one factor. “I don’t like Bob Arum telling the press how much money I get for any of my fights,” he said. “It changes people’s reaction to me.”

It also made him a target for chancers. “Last year, an 18-year-old boy arrived in Brockton and claimed he was Marvin’s half-brother,” said Pat Petronelli. “We put the kid up in a hotel for four days and had the police check his story out. The kid had looked straight in his eyes and claimed, ‘Your father had an affair with my mother.’ It was lies.”

There was little obvious evidence of Hagler’s wealth, apart from his home in the well-appointed Hanover district and his 1983 Cadillac. He retained a number of his frugal habits, such as travelling to New Jersey to buy cut-rate pigeons for his collection and continuing to take his mother to budget restaurants for lunch. “He claims that he never got to eat his food because of the fans interrupting,” Goody Petronelli laughed. “So why waste money at a fancy place?”

Although he had bought a house for his mother after defeating Antuofermo, he insisted that others had to share his own work ethic. His financial adviser, Peter Mareb, revealed, “One of Marvin’s ambitions is to own a chain of laundromats, in order to provide jobs for members of his family.”

“I want to make sure that my brother and sisters have something to do,” Hagler explained. “You want to work, fine; you can earn your money. I can help them instead of me just giving them things. It’s also my way of saying ‘thank you’ for standing by me.”

To protect his interests, Hagler had founded Marvelous Enterprises Inc. He and the two other shareholders, Pat and Goody Petronelli, met monthly with Peter Mareb to discuss investments and strategy. “At first, Marvin was self-conscious at the business meetings,” Mareb recalled. “He had to overcome his basic cautiousness because he was afraid of not being considered smart.” Mareb worked hard to challenge this, “I assured him that some very sophisticated clients understood no more than he did initially.” Pat Petronelli marvelled at the speed of his development outside the ropes. “There’s a wide gap between education and intelligence. Marvin isn’t educated, but he’s intelligent. He probably would have done well even if he had not made it as a world champion.”

Hagler’s income has been funnelled into a profit-sharing plan, a pension plan, a custodial trust account and educational trusts for his children. The champion received a relatively modest monthly salary, “about the same as someone earning in the high five figures”, Hagler once explained. “He’s not like many athletes,” said Mareb. “He’s stayed conservative in his needs. He’s not compulsive about spending. He feels nervous about debts. He won’t run them up.”

Despite the comfort, Hagler worked hard to stave off complacency. “My security isn’t guaranteed,” he said. “I still have to work.

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