James DeGale: I need £30million to live my lifestyle | Boxing | Sport
But despite being wild for women, it is his mum Diane and sister Eloise who keep him from joining fellow Brit Lewis Hamilton in moving to Switzerland to save on tax.
DeGale, 31, returns to the ring after 11 months out with a shoulder injury against American Caleb Truax.
It is the IBF super-middleweight champion’s first fight in Britain since he beat Marco Antonio Periban in Liverpool in 2014.
DeGale has had four fights in the US since – including the one where he won the world title in Boston – and has pocketed about £6m in earnings thanks to a lucrative arrangement with boxing advisor Al Haymon.
But the taxman has been getting his fair share, much to the Londoner’s frustration.
“I know it is sick me saying it but £10m is not a lot of money,” said DeGale, who has lost just one of his 25 professional fights. “By the time I’m taxed and paid people, I would probably be picking up about £400,000.
“That’s why I have to earn at least another £30m to live the way I want to live.
“I remember being a lot younger and my dad telling me about the taxman and I never really understood him.
“But now that I’m earning my own living, getting good money, I can see what he was talking about.
“Forty-seven per cent of my money goes to the taxman but I have never thought about going to live in somewhere like Monaco.
“I can remember someone telling me about the Beatles way back in the 70’s and they were getting taxed as something like 98 per cent. That is stupid taking so much money off people in tax.
“I’ve never been tempted to live in somewhere like Switzerland but I was tempted to go and live in America where there is much less tax. I thought about going to Miami, I like it a lot there.
“I don’t know if I could leave London, I love London. I don’t think I could leave my family either, they look after me. I’m a baby and rely on my mum and sister Eloise to do everything for me. I’m like if my tyre is flat, ‘Hello mum, what shall I do’?”