Floyd Mayweather Jr. is known for his 49-0 record, his flamboyant spending, and unapologetic personality. Mayweather is one of the most successful professional boxers of all time, he has amassed over $700 million in payouts, according to Bankrate.com. As of September of 2016, Floyd Mayweather Jr. was worth $400 million. Despite his storied success, Mayweather Jr. has had multiple tax problems that he has resolved. Over the last 10 years, Mayweather Jr. has had three separate issues with the I.R.S., but the latest issue is worth upwards of $75 million.
Floyd goes toe to toe with the IRS
Paper work has been filed stating that Mayweather owes taxes for the 2015 fiscal year. In 2015, Floyd Jr. made a staggering $230 million from the epic fight versus Manny Pacquiao. Due to his extensive earnings, it can be estimated that he owes the IRS a number upwards of $75 million dollars. On July 5, Mayweather filed a postponement of action petition, ultimately asking for an extension until after his highly anticipated fight with MMA Superstar Connor McGregor in August.
The petition filed by Mayweather states that he has the funds but they are in an illiquid state. So in order to easily resolve the issue, he asked the IRS for the extension until after the McGregor fight.
As of this article, the IRS has not replied to the petition. Ultimately, they do not have to say yes to the petition and can make him pay it right now. They can make him turn his illiquid assets liquid and pay them their money.
That wouldn't be a problem for the fighter either.
Mayweather has some serious assets
If the IRS doesn't grant the postponement, Mayweather will just have to sell some of his pricey assets.
This includes cars, homes, and a closet full of top fashions. His current assets include but are not limited to:
- 2 fully customized private jets that have an estimated value of $74 million
- Multiple properties including- a 20,000 square foot mansion in Las Vegas, a penthouse atop the Palms Place on the strip, and a Miami mansion with 5 bedrooms, 5 bathrooms, and a 600 square foot pool
- A car collection worth an estimated $75 million that includes three Bugatti's, two Rolls Royce, and various other models of supercar
- A watch collection, with some that have never been worn, estimated worth of $6.4 million, which has been called the most expensive watch collection in the world.
This is am example of fiscal irresponsibility by a man, who in no way, should have any issues what so ever.
It can be quite disappointing for fans to see one of their idols conduct themselves in such poor ways.
This current run in with the IRS isn't the first for "Money" Mayweather. In 2009, he paid $6.17 million dollars from unpaid taxes from 2007. He waited to settle the debt until after his big fight that year, against Juan Manuel Marquez. He also settled a minor, well minor for him, issue worth $3.4 million in 2011.
