LAS VEGAS -- Promoter Bob Arum said he's learned his lesson. And he hopes the rest of the boxing world takes note.

It will be six months before Arum enters a ring at a fight in Nevada. He will also pay a $125,000 fine for offering a payoff for the IBF to sanction a George Foreman fight.

"Lessons can be learned, not only by us, but by the commission and everyone in boxing," Arum said Wednesday after the Nevada Athletic Commission imposed the penalties as part of a negotiated agreement of allegations involving the boxing promoter.

In the settlement between Arum's Top Rank company and the state, Arum admitted he used poor judgment when he made an improper $100,000 payment to IBF founder Robert W. Lee to sanction the April 22, 1995 fight between Foreman, then the heavyweight champion, and Axel Schulz. Foreman won the fight.

Arum is banned for six months from attending weigh-ins and entering dressing rooms and rings at fights in Nevada. Arum said those are only "symbolic things."

He must pay the fine and Top Rank will open its books to the Nevada Athletic Commission. The Las Vegas-based company must share all communications with sanctioning organizations and provide evidence on payments of any sanctioning fees during the six-month probationary period.

Chief Deputy Attorney General Kirk Hendrick told the commission that Arum brought discredit to the sport of boxing.

"The state will not tolerate such behavior," said Hendrick, who helped negotiate the settlement. "This agreement is a victory for the state of Nevada and for boxing."

Arum's attorney, Judd Burstein of New York, said the payoff is just one blemish in Arum's extraordinary 35-year career in boxing.

"It was a mistake made in a misguided effort to help a fighter with whom he had a relationship with," Burstein said. "This is a strong penalty, but it is an appropriate penalty."

Burstein noted that Arum volunteered the information about the payoff and has cooperated with federal authorities in their case against Lee and his son.

The Nevada Athletic Commission filed a complaint against Arum in July after he testified at Lee's racketeering trial in New Jersey. Testifying without immunity, Arum admitted during four days on the stand that he paid Lee $100,000 above the standard sanctioning fee to win the IBF's blessing for the little-known Schulz.

The rankings and sanctions granted by the IBF, as one of the world's three major sanctioning bodies, play a big role in what fights and purses a boxer gets. The groups now get 3 percent of a boxer's title fight purse in return for their approval.

Arum also will donate $50,000 to a boxing or sports program in Nevada. That was not part of the agreement, but something Arum volunteered. The commission and Arum will discuss which organization will receive the money.

Commissioner Glenn Carano asked Arum what he thought could be done to improve the integrity of boxing.

Arum suggested that sanctioning bodies be regulated. "I think something should come out of this," he said.

Another commissioner, Dr. Flip Homansky, said: "Why we're here is that managers and promoters and ratings organizations are not going to be able to conduct business as usual."

After hearing from Hendrick and Arum, the commission, acting as a judicial body, accepted the settlement. The panel amended one part of the agreement to say that any boxing organization, not just Top Rank, must report improper or unusual requests for payment by sanctioning bodies.

"It's been very, very hard coming before your neighbors and citizens and having them judge you for something I did wrong," Arum said.

Lee and his son, Robert Jr., 38, are the only defendants on trial in a case that alleges IBF officials took $338,000 to rig rankings and grant favors. They face multiyear prison terms if convicted of conspiracy, racketeering, fraud and tax charges.

The jury has deliberated 14 days and will resume deliberations Thursday.