More Money, More Problems?

By Paul Magno on July 10, 2017
More Money, More Problems?
No outsider right now could possibly know what the IRS is looking to collect in total.

It’s estimated that the August 26 bout with McGregor could yield Mayweather as much as $200 to $250 million…

Late last week it was reported that Floyd Mayweather, through his attorney, had petitioned the IRS to postpone payment of back taxes until after his August 26 bout with UFC star Conor McGregor.

According to the petition, first posted on the legal website Law360, the fighter “has substantial assets,” however, “those assets are restricted and primarily liquid.” This means that Mayweather lacks the actual cash to cover the amount owed to the IRS.

It’s unclear how much Mayweather owes the government, but we do know that the debt is from 2015—a year where the fighter earned roughly $250 million (the bulk of it from that year’s lucrative bout with Manny Pacquiao). If Mayweather owes the full tax amount to the feds, that would put his debt near $82 million, plus a substantial penalty. But, of course, that’s a worst case scenario and there’s no way any outsider right now could know what the IRS is looking to collect in total.

Needless to say, though, the outstanding debt is enough to send Mayweather and his legal team scrambling for a late defense to the government’s offensive surge.

Mayweather, who could finish his career as the first fighter in the history of boxing to earn a billion dollars over the course of his career, could be forced to liquidate some of his assets in order to cover the tax bill. The IRS, as of right now, does not seem to be willing to postpone payment and, according to reports, is dead set on the fighter producing the money owed them by either selling some of his possessions or taking out a loan against the value of those possessions.

The undefeated former 5-division world champ has had several run-ins with the IRS in the past, paying penalties for owed back taxes on numerous occasions.

It’s estimated that the August 26 bout with McGregor could yield Mayweather as much as $200 to $250 million.

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  1. Kid Blast 11:36am, 07/11/2017

    Smells Trumpian

    I’d fire Leonard Ellerbee.

    Mayweather has to be a moron to let that slip buy him. Didn’t these guys learn anything from Joe Louis?

  2. Koolz 08:59am, 07/11/2017

    Mayweather is evolving as a human Being?
    Ha.Ha…HAHAHAHA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
    The guy isn’t evolving into anything, he is same person that put a gun to his
    wife’s foot and said which toe. 
    There is something else behind the Mayweather events, some other agenda that allows him to come away with 200, 300 million.
    I am sure the Casinos are making a Billion off of him.

    McGregor get’s 100 million and Mayweather Get’s probably 300 million.

    IRS(corrupt joke) get’s 60 million. 
    we get to see if McGregor can land anything.
    Die by the Sword Live by the Sword and on to beggers we go.

    oh and if you want HD PvP you will be paying 100 dollars.  NO sweat I’ll post his vid as soon as it hits the net I consider it an exhibition match like those old K1 days in Tokyo!

  3. Irish Frankie Crawford Beat Saijo aka Gimpel 08:08am, 07/11/2017

    He probably owes at least $50,000,000 back taxes from 2015. I say he should revolt and refuse to pay. Then he could join Madoff in that federal pen down in North Carolina

  4. Kid Blast 07:06am, 07/11/2017

    Bontchimuz may have the beat

  5. Kid Blast 07:03am, 07/11/2017

    Andrew, why not spend your time elsewhere? Why take the time to read something you feel is boring.

    Mango might be a lot of things, but boring is not one of them. He has been a great addition to boxing.com.

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