Its about to be Floyd "Broke" Mayweather...

[Kool Beenz]

Money Woes Continue To Press Floyd Mayweather Jr.

by T.K. Stewart

Floyd Mayweather, Jr. announced his retirement from the sport of boxing on June 6, 2008. But since he washed his hands of the sport that was on the verge of turning him into a household name, Mayweather's fortunes have taken a dramatic turn.

The latest bit of information regarding Mayweather's finances came with a shocking price tag - $6.1 million in back taxes he owes the Internal Revenue service from fiscal year 2007.  The IRS is now pursuing 'Money" Mayweather and has reportedly placed liens against him for that dollar amount.

Unless some sort of offer and compromise can be worked out with the IRS, and unless Mayweather pays quickly, the $6.1 million that he currently owes will skyrocket, with penalties and interest, by $500,000 per year.

Perhaps Mayweather can call on old friend and former Vegas resident Mike Tyson, who likely knows very well the various calculations the IRS uses to add insult to injury.

It's been a tough road for Mayweather over the past several months.  In July, he threw himself and the citizens of Grand Rapids, Michigan (his hometown) a bash fit for a king.  Mayweather used the Independence Day weekend as his own personal platform to send himself off into what he hoped would be a permanent retirement from the sport of which he said at the time, "I'm bored with."

However, since that hot July weekend when he "made it rain" by throwing $30,000 in one hundred dollar bills into a crowd of people, 'Money' Mayweather has encountered some very pricey situations.

In September, the former pound-for-pound champ was sued by a Florida real estate developer for backing out of a deal to purchase an $8.5 million dollar home in the state.  Mayweather reneged on the initial agreement to pay the developer $1.7 million that resulted in the lawsuit.

In August, in a story that made headlines on newscasts around the world, one of Mayweather's Las Vegas homes was robbed of what was reported to have been $7.1 million worth of jewelry.  He later offered a $100,000 reward for information in the case that would lead to an arrest or conviction, but the crime has yet to be solved.

October brought a worldwide meltdown in stock markets as well as continued plunging home values in the United States.  The markets crashed between 30% and 40%.  Few investors escaped the bloodletting. For Mayweather, who in 2008 claimed that he was on his way to becoming a billionaire, it would certainly seem the crisis would have significantly altered his grandiose business plans.

Mayweather also owns several properties in the state of Nevada.  The Las Vegas area in which he resides has been what some have called "ground zero" in the U.S. foreclosure quagmire.  The situation has caused Las Vegas home values to plummet more than 30% and homeowners who once had millions of dollars worth of equity in their homes have watched it blow away like dust in the desert wind.  Mayweather told many of us boxing writers in 2007 that he paid "$11 million" for his most recent home in Las Vegas.  But even using conservative figures, that same pad would now be worth about $7.5 million.

Mayweather is also known to win (and lose) thousands of dollars at a time wagering on sporting events as was well documented in the 24/7 Countdown series produced by HBO.  He also has a certain affinity for luxury automobiles (he reportedly had a fleet of nearly 20) which have not always proven to be the most sound of investments.

It all adds credence to Oscar De La Hoya's comment back in October.  While on the press tour for his upcoming fight against Manny Pacquiao, the 'Golden Boy' quipped, "I heard he needs the money" when asked if he thought Mayweather would return to boxing.

Then of course, there was the interesting quote given by his father, Floyd, Sr. to the Grand Rapids Press: ""How can he tell all the people in Grand Rapids he's a billionaire? "He won't be a billionaire in a billion years. Mark my words, someday he'll be running through the streets of Grand Rapids broke."
 

[Now_Im_Not_Banned]

it amazes me how stupid some people can be

[Elano]

However, since that hot July weekend when he "made it rain" by throwing $30,000 in one hundred dollar bills into a crowd of people, 'Money' Mayweather has encountered some very pricey situations.

This guy deserves to be broke and homeless

[Elano]

it amazes me how stupid some people can be

<a href="http://www.youtube.com/v/ez47hmlHFMg" target="_blank" class="new_win">http://www.youtube.com/v/ez47hmlHFMg</a>

[da_notorious_mack]

it amazes me how stupid some people can be

definitely agree,the only possible thing in his defense(and tysons)is that when you come from nothing and can only dream of getting millions...when you get it...you dont wanna be handing over 6-figure taxes to a government that aint do shit for you when you was broke...werent them risking spending their later years like a cabbage cus they took too many punches to the head...i'd be tempted to try hide some shit


but yah dudes a stupid mofo..."money" mayweather muhahaha

[Javier]

<a href="http://www.youtube.com/v/ez47hmlHFMg" target="_blank" class="new_win">http://www.youtube.com/v/ez47hmlHFMg</a>
[/quote]

It's all an act.  I wish I was broke like Floyd right now.  Plus, this guy can just come back within 3 years and get paid a ridiculous amount of money for his comeback fight.  

[Elano]

<a href="http://www.youtube.com/v/ez47hmlHFMg" target="_blank" class="new_win">http://www.youtube.com/v/ez47hmlHFMg</a>

It's all an act.  
[/quote]

uhm...how do you know it ? 

[Javier]

Well it's obvious that the WWE has fake storylines in order to build up their matches.  It's a little less obvious with boxing.  Floyd has always been a cocky dude, but once he realized that most people just hated him...he decided to just be even more annoying/cocky just for the fuck of it.  The money mayweather persona is new too, relatively speaking. 

[Citizen-Y]

Luckily for him he's still young and a huge draw.  Rematches with Hatton, De La Hoya, or superfights with Margarito or Pacman would help him.  Hell, I look at it this way, his monetary loss means more fights from him since he'll need cash.

Keep makin' it rain Floyd

[7even]

What is it with black Americans, always showing how much money they have, making it rain and shit?

[da_notorious_mack]

Luckily for him he's still young and a huge draw.  Rematches with Hatton, De La Hoya, or superfights with Margarito or Pacman would help him.  Hell, I look at it this way, his monetary loss means more fights from him since he'll need cash.

Keep makin' it rain Floyd

i dunno his hands are fucked and i think he's got use to the expensive lifestyle

[Kool Beenz]

it amazes me how stupid some people can be

and especially with there hard earned money

[herpes]

What is it with black Americans, always showing how much money they have, making it rain and shit?

Majority of black Americans aren't like that you fucking moron.  Keep letting the media dictate your perception of people you have never met.

[7even]

What is it with black Americans, always showing how much money they have, making it rain and shit?

Majority of black Americans aren't like that you fucking moron.  Keep letting the media dictate your perception of people you have never met.

That's probably because the majority doesn't have a ridiculous amount of money. I can add the adjectives "young" and "rich" to make the sentence more clear to your dumb ass. And I never said that it's a majority. I just said that when it happens, it's most likely blacks you fag.

Look at this shit:

[Elano]

There are a lot of Soccer/Nba/Nfl players that comes from poverty,most of them are not broke like this stupid mayweather.....boxers are fucked up in the head,this is the problem.