Floyd Mayweather owes more than $6 million to the IRS
Paul Personia
Big payday could help Mayweather fend off IRS
By OSKAR GARCIA, Associated Press Writer
Jul 2, 7:31 pm EDT
LAS VEGAS (AP)�Floyd Mayweather Jr. has said rumblings about his
financial troubles are nothing more than rumors, but public records
obtained by The Associated Press show the boxer nicknamed �Money� owes
about $6.4 million to the Internal Revenue Service and others.
The IRS hit the former pound-for-pound boxing king with a lien in
October for $6.17 million in unpaid taxes from 2007, according to the
Clark County Recorder in Las Vegas. A New Jersey Superior Court
judgment from the same year shows he owes $193,000 in state taxes
there.
Leonard Ellerbe, Mayweather�s manager, disputed the documents and said
he believed they were inaccurate.
�Floyd Mayweather does not have a problem with the IRS,� Ellerbe told
the AP on Thursday. �He doesn�t owe the IRS $6.1 million � I don�t
(care) what a lien says.�
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�When you have a problem with them, you ain�t hard to find�ask Wesley
Snipes,� Ellerbe said. �You go to jail, they come take your (stuff).
He doesn�t have a problem.�
Snipes, the actor, is currently appealing convictions of willfully
failing to file his income taxes and his three-year prison sentence.
�(Mayweather) is free to move and do anything and everything he wants
to do with no problems at all. None whatsoever,� Ellerbe said.
Besides taxes, county records in Las Vegas show the former
five-division champ has unresolved debts worth $9,400 to three
homeowners associations. Other liens filed with the county say the
boxer did not pay nearly $3,900 to a contractor that programmed
electronics at one of his homes and $320.10 to his trash collector.
Mayweather, who is returning to the ring after retiring a year ago,
has said his scheduled September fight against Juan Manuel Marquez
isn�t all about a big payday, but a lucrative purse couldn�t hurt in
his ongoing battle to keep up on his bills.
The IRS and others use liens to secure payments by placing a claim on
the property of individuals who owe them money. Liens damage a
person�s credit rating and remain on credit reports longer than other
negative information, such as late payments. Once unpaid taxes are
satisfied, the IRS files lien releases saying so with the county
recorder.
Raphael Tulino, an IRS spokesman, said Thursday that the agency does
not comment specifically on individual tax situations. The IRS said in
the October lien itself that it has demanded payment, but the 2007
taxes remained unpaid.
A clerk in New Jersey Superior Court said Thursday that the $193,000
judgment there had not been satisfied.
Mayweather (39-0, 25 KOs) has been socked with liens in the past and
paid them off, according to recorder records in Clark County. The IRS
filed liens totaling nearly $6.3 million for unpaid taxes from 2001,
2003, 2005 and 2006, and three homeowners associations also filed
claims against the boxer that were later resolved, county records
show.
Asked about the liens that had been resolved, Ellerbe said: �We�re
talking about what�s going on right now. I�m sure you might have been
two days late paying your rent two, five years ago.�
The former Olympic bronze medalist made more than $50 million inside
the ring during his final 18 months of boxing before he abruptly
retired last year and turned his attention to show business.
Mayweather has proved to be a bankable celebrity outside the ring.
He has appeared on ABC�s �Dancing With the Stars� in 2007 and is
featured in a current AT&T television commercial. He has said that he
made $8 million last year without fighting.
He also cashed in his �Pretty Boy� nickname for �Money.�
�America is built on two things�controversy and money,� Mayweather
told HBO before he defeated Oscar De La Hoya in May 2007. �It�s not a
black thing, it�s not a white thing, it�s a green thing.�
The cable network documented both fighters leading up to their match
for its �24/7� reality series. The same episode showed Mayweather
hand-counting $10,000 stacks of $100 bills and bragging about winning
$34,000 after betting on an NBA basketball game.
�I ain�t gotta carry no black card, I like carrying mine in cash�get
the job done better,� Mayweather said, cracking a grin.
Mayweather received a reported $20 million to wrestle on WWE�s
�WrestleMania XXIV� in 2008, part of his efforts to increase his
entertainment profile. At a promotional event for that appearance in
Los Angeles, Mayweather incited a couple hundred fans by whipping out
a money roll and repeatedly tossing $100, $50 and $20 bills into the
crowd.
The boxer likes to be seen with a wad of cash, large entourages and
expensive jewelry.
�You see me�250 on the wrist, $300,000 on the pinky, $600,000 on the
neck,� Mayweather said on another �24/7� episode filmed before his
fight with Ricky Hatton in December 2007.
YouTube videos show Mayweather tossing $100 bills into crowds at night
clubs � known as �making it rain� for the way the bills look when they
fall.
The Las Vegas Review-Journal labeled him the �reigning king of flash
and cash� in 2007 for regularly showering patrons and his entourage
with cash and expensive Cristal champagne. The newspaper said that
Mayweather and his entourage travel in a three-car fleet made up of a
Rolls Royce Phantom, a Maybach and a Mercedes McLaren SLR.
�I�ve seen him make it rain at least 20 times in the last couple
years,� Branden Powers of Poetry nightclub told the newspaper. �Pound
for pound, he�s the best tipper.�
Ellerbe said Mayweather�s comments about money were made just to
promote fights.
�Him saying he got a bunch of money, that�s an image, that�s an image.
It has nothing to do with his business,� Ellerbe said. �And he can say
anything he wants to, but I�m giving you what the facts are. And the
facts are Floyd Mayweather does not have a problem with the IRS, or
anybody else, for that matter.�
Mayweather�s comeback fight, delayed until Sept. 19 after Mayweather
damaged rib cartilage while training, had been scheduled for July 18
at the MGM Grand hotel-casino in Las Vegas.
Mayweather and Marquez (50-4-1, 37 KOs) are expected to fight at a
catch-weight of about 143 pounds, eight more than Marquez has ever
fought and the lightest Mayweather has been since 2005.
Associated Press writers Adam Goldman in New York and Eli Segall in
Trenton, N.J. contributed to this report.
Updated Jul 2, 7:31 pm EDT
ne...@millions.com
wrote:
With well marketed encounter with Manny Pacquiaom he should be able to
reduce the amount by a few shekels.
DCI
Rieper
> On Sat, 04 Jul 2009 01:04:37 GMT, paul9...@aol.com (Paul Personia)
> wrote:
>
>
>
>
>
> >http://sports.yahoo.com/box/news;_ylt=Avuu6X5dTPMAUkT.HyXwXraUxLYF?sl...
>
> - Show quoted text -
DCI, can we first see Manny beat Cotto, before making such
assumptions??
I'm still waiting on your prediction for said fight...
=)
ne...@millions.com
wrote:
OK, OK, OK, I'm working on it. :)
DCI
D. Flynn
> http://sports.yahoo.com/box/news;_ylt=Avuu6X5dTPMAUkT.HyXwXraUxLYF?sl...
>
"No-Money" Mayweather was asked recently if he was returning to the
ring due to financial difficulties. Of course Pretty Broke Floyd lied
and said he was doing just fine.
Just fine like Tyson and Holyfield.
CliffB
> wrote:
>
>
>
> >http://sports.yahoo.com/box/news;_ylt=Avuu6X5dTPMAUkT.HyXwXraUxLYF?sl...
The amazing thing to me was that that dumb arse Ricky Hatton let
Mayweather Sr. be his corner guy, when Jr. stood to make a mint if
Hatton lost and Jr. got next in line for the huge Pacquiao payday.
Sure enough, Mayweather Sr. helped coach Hatton into a humiliating
knockout defeat. Now, hatton must take primary responsibility for his
swift demolition, but Mayweather certainly didn't have Hatton's head
on straight and Pacquiao took it off the rest of the way. Voila:
Mayweather Jr. gets the largest payday of his life soon.
Scotius
wrote:
>http://sports.yahoo.com/box/news;_ylt=Avuu6X5dTPMAUkT.HyXwXraUxLYF?slug=ap-mayweather-moneywoes&prov=ap&type=lgns
>
>Big payday could help Mayweather fend off IRS
>By OSKAR GARCIA, Associated Press Writer
>Jul 2, 7:31 pm EDT
>
>LAS VEGAS (AP)�Floyd Mayweather Jr. has said rumblings about his
>financial troubles are nothing more than rumors, but public records
>obtained by The Associated Press show the boxer nicknamed �Money� owes
>about $6.4 million to the Internal Revenue Service and others.
He could make considerably more than that even for one fight.
And of course, he and his opponent don't have to try to destroy each
other... wink, nudge.
Well, then he probably doesn't even "have to" have another
fight. "I'm Bill Curtis, and I'm faster than Floyd Mayweather". I
thought that was a pretty funny commercial.