In 1923, the town of Selby, Montana made one of the poorest investments in boxing history.
The town had just come into ‘new’ money from the bustling oil industry and decided on a plan to bring people to their lesser-known town. The plan was to stage a major boxing bout between heavyweights Jack Dempsey and Tommy Gibbons.
The bill was $300,000, a hefty sum for back then. Selby was hoping to get all that back and then some by charging high ticket prices which they felt people from the East would gladly pay for a fight of this grandiosity.
Well, the plan backfired as most people around the area could not afford the ticket prices and there simply were not enough outsiders to drive a profit. In all, only about 7000+ paid for tickets and an estimated 13000 saw the fight for free!
The aftermath proved to be a financial disaster for the town as 4 banks went bankrupt! As for the fight, it went 15 rounds and Dempsey retained his title with a unanimous decision.