Chris Eubank is launching a fund for Michael Watson following a compensation blow for the brain-damaged boxer.

Watson stands to receive no more than £400,000 in settlement of a damages claim worth up to £2.5 million after his ill-fated fight with Eubank ten years ago.

Former Hove champ Eubank revealed to the Argus last night: "I will speak to my lawyer and ask him about setting up a fund for Michael.

"He was the people's champion. They loved his gentle manner outside the ring and they loved him inside the ring.

"I think it is a little unjust that a fund has not been set up so that the people who supported him and are aware of his plight can send in money.

"If all Michael's supporters sent in £5 each to the fund then this would make up the moneys that he is not going to be paid from the British Boxing Board of Control."

The settlement of Watson's case against the BBBC, approved by the High Court in London yesterday, was said to be the best that could be achieved in view of the board's lack of assets and the fact it was uninsured.

A major part of the money available to 36-year-old Watson will be due to the efforts of promoter Frank Warren, who was praised by Mr Justice Buckley for the hard work he has put in.

The super-middleweight was struck down at the peak of his career by catastrophic head injuries sustained as a result of his WBO world championship bout against Eubank in September 1991.

Two years ago, the High Court ruled that the BBBC breached its duty of care to Watson because ringside resuscitation facilities were inadequate.

That decision was upheld by the Court of Appeal last December, but the BBBC won permission to appeal to the House of Lords.

As part of the settlement, that appeal will be withdrawn.

Watson was in court in a wheelchair to hear the judge say the net sum hoped to be available to him "is sadly a long way short of the damages that he would have received had the defendants had the money or had they been insured".