West Coast Connection Forum
Lifestyle => Sports & Entertainment => Topic started by: Kool Beenz on January 13, 2009, 08:54:10 AM
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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."
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it amazes me how stupid some people can be
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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
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it amazes me how stupid some people can be
http://www.youtube.com/v/ez47hmlHFMg
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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
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http://www.youtube.com/v/ez47hmlHFMg
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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.
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http://www.youtube.com/v/ez47hmlHFMg
It's all an act.
[/quote]
uhm...how do you know it ? ::)
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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.
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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 :)
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What is it with black Americans, always showing how much money they have, making it rain and shit?
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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
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it amazes me how stupid some people can be
and especially with there hard earned money
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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.
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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: http://www.worldstarhiphop.com/videos/video.php?v=wshhH807hiUHbp56CGH3
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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.
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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.
Major sports leagues have programs that educate their young players on what to do and not do with their money so they don't end up broke. Boxing is ran by corrupt organizations who could give a damn about their boxers.
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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.
Boxing is ran by corrupt organizations who could give a damn about their boxers.
I can say the same thing for most of the Nba/Nfl/Soccer teams owners.....
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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.
Boxing is ran by corrupt organizations who could give a damn about their boxers.
I can say the same thing for most of the Nba/Nfl/Soccer teams owners.....
Atleast they have a system in place, boxing doesn't.
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I've never heard/read about programs in the Nfl/Nba that educate their young players on what to do and not do with their money....
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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.
what do you expect from a fuckin Nazi?
7even likes to pretend as if he is an expert on subjects he knows absolutely nothing about other then seeing it in videos or on youtube. He isnt even in the States....wtf?! lol. Typically when you take people who come from a life, environment, history of having nothing....all their dreams of what its like to be rich come out when they finally become rich. Theyre often surrounded with their same group of friends they grew up with (as you usually dont just go buy new friends), who also are not used to handling themselves with millions of dollars. For whatever reason, when people come from nothing (a lot of people)....and become rich, they feel the need to bring everyone with them. They give money to their family, friends, everybody. I think its sort of a way of feeling like a hero when youve spent a majority of your life being looked down upon. People who come from money, and grow up over priviledged, learn how to hold onto their money....hoard it, and only give it out if its a sound investment and it best suits THEIR interest.
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btw, i dunno if you guys ever saw the special ( think it was on Showtime), where they took this random homeless guy (white guy 7even) and gave him $100,000 dollars. Just to see how his life would change. He took the money, went out, bought himself a brand new $30,000 dollar truck. Bought a car for some guy who was his friend even when he was homeless, and started throwing money around having a good time with it. Needless to say, he was homeless a year later.
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I've never heard/read about programs in the Nfl/Nba that educate their young players on what to do and not do with their money....
actually, i believe they do have programs for young players when they come into the league as a rookie. Problem is, how many 18-22 yr old males really wanna listen to someone else tell them what to do with their newfound millions. Not many Ive ever known, at that age you think you know everything. Why would these guys be any different?
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Let's not act as if Mayweather or people like him always lived on the street and had barely food on the table. To become THIS good at a sport, you need proper nutrition and shit. So don't give him that gutter bullshit. They simply are major show-offs. What's the point in burning 100,000 or throwing 30,000 into crowd, making it rain, or making a video showing 1 million in cash? It's just to show off, that you are so rich that you can care less. That's it. It's not about giving to your kin and friends. It's to show off. I've never seen non-black people do that to that extend. Does that make me Nazi? I just call it how I see it. Not my fault at all.
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Does that make me Nazi?
probably worse actually. At least Nazi's admitted their hatred. You have a picture of Steven A Smith in your sig but take swipes at Black people every chance you get lol Hypocrit. You must have gotten beat up by a Black kid when you were little or somethin.
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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.
really, I think Mayweather just understands the game when it comes to Boxing. Tyson, crazy as he was.....began to understand the game. Boxing is a great sport, but the sport has turned into more of a spectacle and a business then it is a sport. Its ridiculous that top fighters always want to fight De La Hoya even though he wouldnt be rated on anyones top 10...or even 20 pound for pound fighters list. Its all about ticket/PPV sales. Fighters like Mayweather are extremely talented. He has beat everyone he faced....but his style isnt appealing to the fans. Im a Spurs fan, theyve had some unbelievable teams....and one of the most successful 10 yr runs ever in any sport. But their style wasnt appealing to fans so their finals appearances had low ratings. In Boxing, when your a great fighter....but fans arent tuning in to watch, the best thing you can do to sell tickets/PPV, is create controversy. Thats what Tyson did, and thats what Mayweather attempts to do. If you notice, Mayweather NEVER goes at his opponent as hard after the fight....as he does before it. He's attempting to create a buzz like Ali would do, before a fight. Ali was the ultimate because he brought the controversy and the drama like no one else, ever. But that is obviously Mayweathers game. Remember, Ali is the greatest....but during his years.....he was hated by many also. You had a lot of people, like 7even, that would consider him a "cocky nigger". But true boxing fans respected him, and loved him.
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Manny pacqiou would destroy floyd mayweiner
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Manny pacqiou would destroy floyd mayweiner
Since this has turned into a racist thread i'll counter that with, "Floyd will knock the rice out of Manny"
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Manny pacqiou would destroy floyd mayweiner
Since this has turned into a racist thread i'll counter that with, "Floyd will knock the rice out of Manny"
im a fan of both Floyd and Manny. But right now....i think Pacman would be too much for him. It would be an interesting match though. Manny typically always has faster hands then his opponents, Mayweather would be the first fighter with hands just as quick. However, Manny's style might not allow Mayweather to box the way he would want to. If it turned into a fight, Manny has the definete advantage.
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How's that racist dumbfuck? im mexican and pacqiao is phillipine.
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Manny pacqiou would destroy floyd mayweiner
I don't know about destroy, but it would be a really good fight.