Floyd Mayweather buys his son a 2018 Ferrari 488

[Kermit]

He's made just under $800 million boxing. Take away half for taxes and another for miscellaneous and I'm guessing an $18 million watch is not a big deal. He'll probably sell it for profit a few years later. Don't let Mayweather fool you. He's a very shrewd businessman that has a lot of irons in the fire. He makes money outside of boxing, which you can't say about many athletes.

Many people that have been close to him claim that every time he comes out of retirement to fight, it is because he is running low on money.

[BigBusiness]

If that were the case he would have paid his taxes and not paid the IRS 3x the amount of interest a bank would charge an ultra high net worth individual.


He will absolutely be broke within five years of his last fight.

Book it.

That simply isn't true

[jjgold]

People have no understanding of math here he spends way too much money


It’s gonna take time is bankroll is going to be very low and going to have to make massive cuts

[slambam]

Lol at people defending him. 99% chance the guy is eventually broke. It'll take a while because he's made so much, but he pisses millions away like no other. Mac, you're insane thinking he'll sell that watch for a profit. He's the only dumbfukk on the planet who would pay $18M for a fukkkin watch.

[Thor4140]

Who fkn cares? Would care less if Floyd well off the end of the world

You living life through Floyd big business?

JJ, call me, I have a business opportunity for you. Need you to manage a gold digging operation in Alaska.

He is to busy working on his underground golf course he is heavily invested in

[TheMoneyShot]

Why does he owe the govt over 200 million in unpaid taxes? Money May.

[ApricotSinner32]

Guy will fight again if he needs the money. Not a big deal for him guy will have good defense until hes 55 probably.

[jjgold]

He has to fight again

Bills too high....he also pays way to many people to do nothing

[grease lightnin]

That simply isn't true

What isn’t true?

Are you saying he didn’t owe back taxes?

The IRS put a tax lien on him. It is public record.

When you make that kind of money, you have tax professionals who tell you exactly what you owe. If you don’t pay by your tax day, the clock starts ticking and you are paying interest. He petitioned the IRS in court to allow him to be paid from the MacGregor fight before he paid the taxes he owed.

He even had his lawyer say to the press something like, “Any smart business person knows If you have investments that are earning a higher rate of return than the interest you are paying, then you don’t liquidate your investments to pay the tax.”

Yes this is true, but if you have liquid assets as an ultra high net worth individual, a bank will let you borrow against them for LIBOR + 1% or less. At the time this was all going down, that is less than a third of what the IRS charges. If he had the assets, he could have simply sent the cash to the IRS from a line of credit. Simple.

Also, in 2009 he had a car repossessed that he was paying 16% interest on after he had already had hundreds of millions in career earnings. 16%!!! Now ask yourself why he would pay that kind of interest if he has that kind of money.

Take it from someone who knows about these things—Mayweather will be broke within five years of his last fight.

[ApricotSinner32]

The IRS stories could be just for a story line to gain more publicity for his fights. I'm sure he has someone working for him that's an expert on shit like that.

[jts1207]

BigB....call Floyd and clear this up for us please lmao

[slambam]

The IRS stories could be just for a story line to gain more publicity for his fights. I'm sure he has someone working for him that's an expert on shit like that.

Lol, you guys act like he's a genius and mastermind. Guy has an IQ of like 12, yet everything he does is a well thought out plan.

[ApricotSinner32]

Floyd as a businessman and boxer his intelligence is quite high. People are underestimating him.

[milwaukee mike]

people think all Floyd's "real estate investments" are going to keep him from going broke... quite the opposite, that's the way many people go broke

stick the $25 million in the bank and make 2-3% on it, that GIVES you 500k/year in income... stick it in a house that you aren't collecting rent on, and it's COSTING you at least 500k/year

and people think that the value of these luxury homes always goes up, that's silly... Eminem sold his house for $1.9 million and he had $5 million+ stuck into it

[jjgold]

Only dummies think he’s not going to go broke this man could I had so much wealth if he invested a lot into mutual funds, stocks , bonds etc. etc. but he blew it all on typical ghetto stuff that loses value daily.

When you have an IQ of five this is what happens

[Thor4140]

i have to side with JJ here. He is an expert on the ins and outs of being broke. Tops in the field

[Grits n' Gravy]

people think all Floyd's "real estate investments" are going to keep him from going broke... quite the opposite, that's the way many people go broke

stick the $25 million in the bank and make 2-3% on it, that GIVES you 500k/year in income... stick it in a house that you aren't collecting rent on, and it's COSTING you at least 500k/year

and people think that the value of these luxury homes always goes up, that's silly... Eminem sold his house for $1.9 million and he had $5 million+ stuck into it

How do you know money isn’t put into savings? The real estate investments he can live off aren’t homes. Brownstones and prime spots in NYC, commercial in major cities, ocean front estates all only go up YoY.

I dont like floyd but I just don’t see him going broke. There is still a shot at 1 big payday fight if he wants easy money. Rematches with Connor or pac will sell.

[grease lightnin]

The IRS stories could be just for a story line to gain more publicity for his fights. I'm sure he has someone working for him that's an expert on shit like that.

Soooo.....

you think a guy who bases his entire existence on making people think he is rich had a broke dik tax lien put on himself to hype a fight?

Yeah that makes a lot of sense.

[grease lightnin]

How do you know money isn’t put into savings? The real estate investments he can live off aren’t homes. Brownstones and prime spots in NYC, commercial in major cities, ocean front estates all only go up YoY.

I dont like floyd but I just don’t see him going broke. There is still a shot at 1 big payday fight if he wants easy money. Rematches with Connor or pac will sell.

Grits, you are a business owner right?

How could you think this guy isn’t a clown after this? http://www.latimes.com/sports/boxing...htmlstory.html


Guy posts a stale-dated 18 month old check he wrote to himself and says “look how rich I am, guys, I haven’t even cashed this yet”.

How is he that stupid? Anyone that understands money and banking knows this is hilariously transparent. He has the mind of a twelve year old

I call have into question anyone that believes this fool after all he has shown to prove he is an idiotic spend thrift.

[jtoler]

ferraris are ugly to me, Id trade this one in for something else or just sell it

[jjgold]

Lol

Idiots in the thread

[milwaukee mike]

How do you know money isn’t put into savings? The real estate investments he can live off aren’t homes. Brownstones and prime spots in NYC, commercial in major cities, ocean front estates all only go up YoY.

I dont like floyd but I just don’t see him going broke. There is still a shot at 1 big payday fight if he wants easy money. Rematches with Connor or pac will sell.

I don't know that, but I know he was paying interest and penalties on over $22 million owed to irs for over a year

anything after the filing deadline for 2015 was 4%/year + another .5%/month... so it would be pretty stupid to have money in savings making close to 0 while you're paying 10% interest

i'll agree it's gotta be hard to go broke when you make $200 million for 1 sparring session, but if anyone can do it Floyd can

[jjgold]

Nobody knows what he owns

Funny thread

Let’s pros post

[grease lightnin]

I don't know that, but I know he was paying interest and penalties on over $22 million owed to irs for over a year

anything after the filing deadline for 2015 was 4%/year + another .5%/month... so it would be pretty stupid to have money in savings making close to 0 while you're paying 10% interest

i'll agree it's gotta be hard to go broke when you make $200 million for 1 sparring session, but if anyone can do it Floyd can

2.2 mil per yr cost to carry IRS debt

vs.


~$150k cost to carry debt from a bank if he had cash, stocks, bonds, etfs, mutual funds, etc to borrow against.



You guys see?


If the guy wasn’t flat fukkin broke at the time, he needs a new financial advisor.

[lonegambler23]

lol wont be such a good dad when they crash it

[sweep]

if he knocks up ONE chick its check mate

[spro23]

the insurance payments + property taxes on all his vehicles has got to be 50k a month or more.

I had a new wrangler, the tag tax + insurance payment was almost $200 a month. All his Ferraris and Bentleys and bugattis hes gotta be pissing away so much money on the property tax and insurance payments alone. what a waste.

[sourtwist]

Never count another man's money

It's his...anyone wishing for him to be broke is a jealous hater

[VeggieDog]

Floyd will be a murder victim. Club shooting. Drive by. Disgruntled buddy.

[jjgold]

the insurance payments + property taxes on all his vehicles has got to be 50k a month or more.

I had a new wrangler, the tag tax + insurance payment was almost $200 a month. All his Ferraris and Bentleys and bugattis hes gotta be pissing away so much money on the property tax and insurance payments alone. what a waste.

way more than that...plus he was way too many people working for him...it is going to dry up

[iQon]

10 years ago, you guys were telling us that Floyd would be broke in 10 years.

[slambam]

10 years ago, you guys were telling us that Floyd would be broke in 10 years.

Why do you think it's crazy to think he didn't go broke? Read the thread, plenty of reason to think he was broke, or close to it.

[grease lightnin]

10 years ago, you guys were telling us that Floyd would be broke in 10 years.

As as long as he can fight, he can shore himself up.

The last one was a stunt.

[iQon]

https://www.sportsbookreview.com/forum/players-talk/942792-why-does-floyd-mayweather-have-so-many-bodyguards.html

7 years ago, apparently.

[Kermit]

ferraris are ugly to me, Id trade this one in for something else or just sell it

Something that we agree on.