Mayweather - will the money run out one day?

First topic message reminder :

It's always hard to separate the hyberbole from reality with Floyd but if this article is to be believed, he has only one "checking account" and keeps all his money in that. Surprised to see it's only got $123 million in it

http://www.dailymail.co.uk/news/article-2413437/Floyd-Mayweather-Inside-ridiculously-world-undefeated-prizefighter.html

No doubt he has investments, property, money invested elsewhere etc but given his extravagance, is he at a real risk of losing it all someday? Plenty of fighters, and other sportsmen, actors, musiscians etc have made and lost fortunes. Plenty have probably lost more than Floyd has ever made.

It raises an interesting question. Who in boxing has lost the most money, if you adjust for inflation? I know Tyson talks of blowing through $300million+ but if you look at some of the old timers, would their lost fortunes dwarf that if adjusted for inflation?

TRUSSMAN66 wrote:He'll never be a nobody.......Top 10 ATg ..best fighter of the last 30 years.....

You not think personal appearances.......Guest commentary roles ...Books etc..... will supplement his already huge bank account...

Floyd is a star..........and there aren't many around in his league..

He always have a following..

Very true, but people would've said exactly the same about Joe Frazier in the 70's and look at the situation he was in when he died.

It's all too common boxers ending up like that

When you factor in everything Truss has mentioned, and the fact he has launched TMT Promotions and seems to be doing well signing a number of young prospects as well as a few world champions, he has enough investments to keep the money coming in.

Weren't the rumours around the time of his come back that he had a huge tax bill he couldn't pay?

If so then it's nearly happened once, yeah he's got investments & he's going to be earning interest every day & if the money does run low then he can cash in on investments but no investments are going to pay him the kind of money he's used to earning once he finishes boxing, & if he spends more than he makes then it will run out

How do you know he spends more than he earns though? All you see is what he wants you to see, and he wants you to believe he's a brash arrogant guy who flashes the cash when ever he can.

Someone mentioned before about him having a deal with the casinos, this is very possible. The amount of free advertising he gives them on his all access shows is unreal.

He may not earn the amount of money he is at the moment but he is bound to earn more than enough to maintain a very very comfortable lifestyle. His problem will be if he doesn't do anything after he retires, however looking at the things he has in place it is looking like he will stay in the sport in some way.

DynamiteChris wrote:Weren't the rumours around the time of his come back that he had a huge tax bill he couldn't pay?

Probably. Paying tax sucks. Im lucky enough not to have to pay it

DynamiteChris wrote:

TRUSSMAN66 wrote:He'll never be a nobody.......Top 10 ATg ..best fighter of the last 30 years.....

You not think personal appearances.......Guest commentary roles ...Books etc..... will supplement his already huge bank account...

Floyd is a star..........and there aren't many around in his league..

He always have a following..

Very true, but people would've said exactly the same about Joe Frazier in the 70's and look at the situation he was in when he died.

It's all too common boxers ending up like that

Frazier isn't an alltime top p4per is he ??.........They don't grow on trees...Mayweather is special...........and more charismatic..

You're a broken record, what about Tyson, what about Holyfield, what about Jones. There are numerous hugely popular boxers who fell by the wayside as soon as the interested started to fall. Mayweather could be the greatest thing ever while he's active but just because he had talent doesn't mean that interest will stay with him in retirement.

Yeah rumours Floyd came back because he was struggling with cash. Of course non of us know the exact state of his finances, but it isn't unreasonable to suggest someone like Floyd who likes flashy items and placing these apparent huge bets could well end up broke. Of course it could all be a front and he might die a wealthy man, but I doubt it.

He is clearly broke or fears being broke. I mean the guy was announcing his retirement after the De La Hoya fight and now he is signing to fight opponents in the long term at age 36. Im glad he is fighting the guy is amazing to watch but sad in a way he is doing it for the money and not the legacy

Must be hard to give up 40 million dollar pay days steffan. He's not exactly taking on big challenges to so no real threat to his zero.

Lumbering_Jack wrote:Must be hard to give up 40 million dollar pay days steffan. He's not exactly taking on big challenges to so no real threat to his zero.

Im thinking sending him an email saying does he fancy giving a 32 year old unknown from Wales a shot if I can get in shape. Not sure I could sell out the Millennium Stadium as I aint that popular (although I do have 927 friends on Facebook) but if I could rake in a £1m along from this fight id be happy

Do it Steffan! Id make the Trek to watch you.

kingraf wrote:Do it Steffan! Id make the Trek to watch you.

Il see what I can do. I will also be needeing a manager and trainer if the fight gets agreed. Altogether now: STEFFAN...STEFFAN...STEFFAN!!!

I'll train you, long as I dont have to train you in Wales. No offence, but Winter doesnt exist in South Africa.

kingraf wrote:I'll train you, long as I dont have to train you in Wales. No offence, but Winter doesnt exist in South Africa.

Can train me in South Africa if you want

Summer in Wales is nice mind. Its my favourite day of the year infact

Let's apply some basic mathematics.

5 fights left with Showtime: 5 x $20m = $100m. Let's say he makes around a 70% margin on his returns after expenses therefore, $70m. He gets taxed at 40% therefore, he nets $42m from his Showtime contract. Add this to his $123 in the bank, Floyd has around $165m in the bank by the time he retires.

Say his assets (houses/cars) are around $100m. Floyd's Net Asset value is around $265m.

He gambled $4m on 46 betting slips over a 2 year period, that's around $100k a bet. Say on average he will lose and will have a return of around 50% of his losses e.g losing $1m every year.

Say Floyd's expensive lifestyle equates to around $2m a year (this is what the average high net worth individual spends).

So by my reckoning Floyd will go broke in 88 years time (265m/3m). I think it's safe to say the money shouldn't run out, unless he starts gambling in excess of $500k a bet and goes on a serious losing streak.

Source: myself, a chartered accountant.

He has a $200mil 6 fight deal with Showtime, so it will a fair bit more than $100mil he'll be getting from his next 5 fights.

All Time Great wrote:Let's apply some basic mathematics.

5 fights left with Showtime: 5 x $20m = $100m. Let's say he makes around a 70% margin on his returns after expenses therefore, $70m. He gets taxed at 40% therefore, he nets $42m from his Showtime contract. Add this to his $123 in the bank, Floyd has around $165m in the bank by the time he retires.

Say his assets (houses/cars) are around $100m. Floyd's Net Asset value is around $265m.

He gambled $4m on 46 betting slips over a 2 year period, that's around $100k a bet. Say on average he will lose and will have a return of around 50% of his losses e.g losing $1m every year.

Say Floyd's expensive lifestyle equates to around $2m a year (this is what the average high net worth individual spends).

So by my reckoning Floyd will go broke in 88 years time (265m/3m). I think it's safe to say the money shouldn't run out, unless he starts gambling in excess of $500k a bet and goes on a serious losing streak.

Source: myself, a chartered accountant.

But going by that logic anyone who has over 100 mil will never go broke within their lifetime.

Champagne_Socialist wrote:

All Time Great wrote:Let's apply some basic mathematics.

5 fights left with Showtime: 5 x $20m = $100m. Let's say he makes around a 70% margin on his returns after expenses therefore, $70m. He gets taxed at 40% therefore, he nets $42m from his Showtime contract. Add this to his $123 in the bank, Floyd has around $165m in the bank by the time he retires.

Say his assets (houses/cars) are around $100m. Floyd's Net Asset value is around $265m.

He gambled $4m on 46 betting slips over a 2 year period, that's around $100k a bet. Say on average he will lose and will have a return of around 50% of his losses e.g losing $1m every year.

Say Floyd's expensive lifestyle equates to around $2m a year (this is what the average high net worth individual spends).

So by my reckoning Floyd will go broke in 88 years time (265m/3m). I think it's safe to say the money shouldn't run out, unless he starts gambling in excess of $500k a bet and goes on a serious losing streak.

Source: myself, a chartered accountant.

But going by that logic anyone who has over 100 mil will never go broke within their lifetime.

100m/3 = 33.3 years, that's a very short lifetime.

Key is, don't make poor investments and whatever you do- don't get married or have children with a multiple number of women. Otherwise, you should successfully be able to manage to not run out of money with $265m+ in cash and assets .

TRUSSMAN66 wrote:

DynamiteChris wrote:

TRUSSMAN66 wrote:He'll never be a nobody.......Top 10 ATg ..best fighter of the last 30 years.....

You not think personal appearances.......Guest commentary roles ...Books etc..... will supplement his already huge bank account...

Floyd is a star..........and there aren't many around in his league..

He always have a following..

Very true, but people would've said exactly the same about Joe Frazier in the 70's and look at the situation he was in when he died.

It's all too common boxers ending up like that

Frazier isn't an alltime top p4per is he ??.........They don't grow on trees...Mayweather is special...........and more charismatic..

Do all time top p4per's get paid when they retire for being all time top p4per's?? Does having charisma pay bills?

I get your point, & yes Mayweather is special, NOW, Joe Louis was special when he was fighting/champion, they all were, but not quite so special when they are in trouble, when they can't fight anymore & a few years pass, the back slappers/hangers on are gone & yes he will have ways of making money but nothing like what he makes now so if he does somehow burn through all that money then he will have no way of living that lifestyle anymore. So if he does he will end up skint.

Like I said before this kind of thing is an illness, & the more money he has the more money he will spend, & what will he do to fill his time when he doesn't have boxing anymore.

Didnt Frazier buy some land, then had to sell it? I hear the land is worth a nine figure sum now. So bad investments ruined him. Same as everyone.

After watching all access 3, I'm convinced he will go broke, his entourage must be 100 people, a lot of money hungry woman in it.

Was about to say the same; when applying all these mathematical equations don't forget to add his entourage's lifestyle to them! I mean just his car's alone cost him a fortune...he has everyone of those cars you saw 3 times over, all in different colours so he remembers what city he is in lol!

I'd also suggest Floyd spends more than 2 million quid a year. Far more in fact.

Anybody that can stay at the top f a sport for 15 years must have some nous....

Just because he's black and brash..doesn't mean he's stupid !!

Top 10 HOfer........and the first since Ray leonard quit..........

He'll have many opportunities....

America applauds and idolises it's heroes.....Doesn't crap on them like some other Countries do from a great height.

You're buying into Floyds hyperbole Truss. Top for 15 years bla bla bla. Does that include his many retirements an cherry picking?

And let's not bring race into it.

Look at you saying not bring race into it.....Bit like Az saying it!!

Cherry picked 5 p4pers...

Who cares about all this p4p garbage you constantly blabber on about, it's not going to miraculously make Guerrero better than just a good solid pro but nothing special. Nor is it going to change Marquez into being a fully fledged welterweight on the right side of 35.

Who are you to say Guerrero is not better than a good solid pro..

You really are patronising......you are...

TRUSSMAN66 wrote:Who are you to say Guerrero is not better than a good solid pro..

You really are patronising......you are...

Well what is he then? He's hardly set the world alight before of after Floyd. He's a decent fighter who was picked very carefully.

Guerrero is a three weight world champ.........

Is Barker a good solid pro ??.....I think he is..

So was Duke Mckenzie.

I would put good money on him being pot less by the time he is 50, it doesn't matter how much you earn its how fast you spend it that counts. As talented a boxer as Floyd is i dont think he is the sharpest tool in the box and i reckon he will carrying on gambling and throwing money around at the same rate after he retires.

TRUSSMAN66 wrote:Guerrero is a three weight world champ.........

Is Barker a good solid pro ??.....I think he is..

What are these three weights you constantly bang on about?

Change your attitude and I might respond...

Or is it that you have for months now been very wrong in your assertion that he's a three weight world champion when in fact he's a two weight world champion.

If you look up what interim means you patronising nauseaus prat..

You'll see I'm right..........

Temporary world champion is still a world champion..

Not at all Truss, an interim title is not a fully fledged world title especially when Mayweather was still the WBC champion and Marquez was the WBA and WBO champion at lightweight. Neither of them mean anything when there's someone better.

If you say so.........By the way thankyou for demeaning yourself enough to post on my Mayweather thread..

I'm eternally grateful...

I love groundhog day as much as everybody else.

Just seen the mayweather v canelo access all areas 4 and I am sure based on that video ( other evidence can be included such as his betting history and car purchases etc) that mayweather will g0 broke. The guy spent over $5000 just playing bowling with his friends. The worst thing is he was proud of it showing off the receipt and laughing to the camera, $5000 on some bowling!!!!! That money could build a school in africa instead it is being spent on something as frivolous as a bowling game with some mates.

(when I say mayweather will go broke I don't mean pennyless and homeless, obviously he will still have a few million left but 5/10 years after his retirement he will no way be able to afford his current lifestyle).

Heard on the radio this morning that this fight is smashing all the records. Already over 2.1m pay per views at £50 a shot. World TV deals have smashed all the records and apparently they're selling out neighbouring casinos at $66 per head just to watch it on a big screen. I think he'd have to be bowling every night of the week for rest of his life to spend that cash.

The Terror of Tylorstown wrote:Not at all Truss, an interim title is not a fully fledged world title especially when Mayweather was still the WBC champion and Marquez was the WBA and WBO champion at lightweight. Neither of them mean anything when there's someone better.

Two titles, and two interim titles all at different weights is probably better than solid pro to be fair.

The Terror of Tylorstown wrote:I love groundhog day as much as everybody else.

  

Champagne_Socialist wrote:Just seen the mayweather v canelo access all areas 4 and I am sure based on that video ( other evidence can be included such as his betting history and car purchases etc) that mayweather will g0 broke. The guy spent over $5000 just playing bowling with his friends. The worst thing is he was proud of it showing off the receipt and laughing to the camera, $5000 on some bowling!!!!! That money could build a school in africa instead it is being spent on something as frivolous as a bowling game with some mates.

(when I say mayweather will go broke I don't mean pennyless and homeless, obviously he will still have a few million left but 5/10 years after his retirement he will no way be able to afford his current lifestyle).

That's no more going to make him broke than me spending £50 on bowling will make me broke.

Aye - once Mayweater stops fighting the entourage will drop and he'll start making money off other fighters under the mayweather name as Oscar did.

http://espn.go.com/boxing/story/_/id/9630673/floyd-mayweather-last-great-prizefighter-espn-magazine

That's one way to get your daughter robbed I guess.

seanmichaels wrote:Heard on the radio this morning that this fight is smashing all the records. Already over 2.1m pay per views at £50 a shot. World TV deals have smashed all the records and apparently they're selling out neighbouring casinos at $66 per head just to watch it on a big screen. I think he'd have to be bowling every night of the week for rest of his life to spend that cash.

hes getting 40 mil for the fight.

there have been cases of people with over 100 mil going broke.

he's not getting 40 mill - he's getting 40 mill guaranteed and a share of the ppv might end up with 60