The championship fight that nearly bankrupted a town

If you visit Shelby, Mont., you'll hear about "The Fight." You'll hear what a disaster it was, and how Shelby almost went broke. 

Heavyweight champ Jack Dempsey

It was 1923. About 2,500 people lived in Shelby, a backwater town that nobody had ever heard of. It was a stop along the Great Northern Railroad, that's all.

A local named James W. ("Body") Johnson read a news account that boxing champ Jack Dempsey was set to defend his heavyweight title in Montreal. He'd get $100,000 for his efforts. Johnson, who owned a some property around Shelby, figured that maybe Dempsey could be persuaded to fight in Shelby instead if the purse were sweetened.

The idea got traction and a deal was made. The world championship fight would be held on July 4th — Dempsey vs. underdog Tom Gibbons. Shelby would be on the map, prosperity to follow.

Dempsey's manager must have smelled a "sucker." He asked for $300,000 and got it, three times what Montreal offered. Nobody in Shelby questioned how the city could afford to pay it, which it couldn't.

Not many of these ringside seats sold. Too expensive!

A sprawling wooden, octagonal arena was quickly built to accommodate 42,000 fans. Hotels were erected specifically for the fight, to be torn down later.

Tickets went on sale. But they were priced way too high to cover costs. Few people bit.

When Shelby couldn't come up with Dempsey's advance on time, his manager leaked word that the fight was off. Now, nobody bought tickets. By the time it was announced the fight was on, it was too late to buy one and get to Shelby.

Then it was fight day. A fraction of the seats were sold. An admission ticket was lowered from $25 to $10, which helped a little. At the bell of round one, thousands of locals decided they wanted in. They stormed over the barbed wire fence. Four thousand freeloaders saw the fight in what was still a mostly empty arena.

Tom Gibbons' gloves.

The match went 15 rounds, the only time Dempsey went the distance.

Then reality set in. The town couldn't pay the bills. The arena was ripped up, the wood sold for scrap. Look closely today in the attics of some old houses in Shelby and you'll see seat numbers on the lumber.

Four banks went bust. It was disaster to all but Dempsey. Shelby managed to survive, but it wasn't pretty.

The site of the fight is now anchored by a Pizza Hut. The town is trying to fund a "Championship Park" complete with a replica of the arena and bronze statues of the fighters. Memorial bricks are $100 to $200 each. Or buy a "Ringside Sponsorship Tile" for $1,000.

Learn more about the fight at the Marias Museum of History and Art in Shelby.