Floyd: Shane borrowed $2 million from Golden Boy....and they're taking another 20%!!

[-The Glove-]

It's not a loan people. It is called an advance. Goldenboy advanced Floyd 6 million of his own money that he was due to make for the Marquez fight. So if they advanced him 6 he got the other 24 million on the back end after PPV was counted(He reportedly made 30mill). So what Floyd is saying is that Shane purse is a little over 6 million and he just took out an advance of 2 million. That leaves about 4 million and some change left. Now take away goldenboys 20% cut and that probably will leave him with a little over 2million left for his pockets. Don't forget uncle sam will be ringside as well. So the 2 million advance + 2million from ppv = 4million something. The more accurate number would be a little over 5 million because 20% of 6.7 million doesn't = 2million.

Call it what you want, but fact of the matter is, they were Loaned money they didn't have YET.

[hahaa]

Only State taxes if Im not mistaken, which is why he won't fight in Cali.

yes, he only stays in the US for x(forgot the exact amount) amount of days to avoid federal taxes.

[War Dinamita]

Call it what you want, but fact of the matter is, they were Loaned money they didn't have YET.

Nope. You pay taxes and interest on a loan and you don't pay interest when you get an advance.

You have no proof Floyd got an advance or loan from GBP.

[hahaa]

Bernard Hopkins (who is rumoured to be going to a rival promoter) recently said that neither he nor Shane are under contract to Golden Boy. Although they have VP titles at Golden Boy Promotions, they are not legally partners.

Floyd recently revealed that Shane borrowed $2 million from Oscar Delahoya. Additionally, Golden Boy is taking a 20% promoter's/manager's cut from Shane.

1) It was kinda foul of Floyd to put Shane's business out there like that.
2) Shane is really getting a raw deal.
3) Oscar is a realyy draconian businessman, and I can see why MAB bounced...Ice Cube style
4) It sounds like Shane is getting $6.7 million for this fight.

how much of it is true?. without specific knowledge of their business deal, im sure Shane is more than a name on a title.

[Kagami Taiga]

Call it what you want, but fact of the matter is, they were Loaned money they didn't have YET.

ummm advances are very commonplace in performance contracts. when i say common i mean like every entertainer, most soprts stars most everything gets advances. there is nothing weird or different about it...

[Kobe B Bryant]

for a guy who doesn't know how to handle his own money.......

floyd sure knows a lot about everyone's finances.

he knows how much manny makes from nike and now how much mosley borrowed.

[check hook]

According to Kevin Iole, about $40 million if the PPV comes in where expected (1.5+ million buys)

if the PPV does 2.5 million plus......it would be awesome......Floyd would be in overdrive with the trash talk.........

[And Still]

Manny is business savvy? How?

Are you talking about the guy who has to pay two promoters and 20 people in his entourage? If Manny was business savvy, he would've left Arum and promoted his fights using his own Manny Pacquiao promotions.

Yeah. He's talking about he business-savvy move of illegally acepting a briefcase full of cash in the back of a limo.

[And Still]

I remember reading that somewhere. I think he is lawyer said it. I am not saying is accurate. But, I just remember I read it somewhere. I just don't remember where though...

Did Cotto get any upside from the PPV?

Because, from what I read Shane was getting 15mil flat rate. Didn't matter if the PPV did 500k or 3mill buys he would only get 15mil with no PPV upside...

While Floyd could make 40mil if the PPV does 1.5mil+

I am not saying it is accurate, but that is what I read...

Think about it. If the fight does 1 mil, that is 50 mil in PPV buys plus the gate = 60 mil.

Haymon would never give Shane 15 mil flat.

The guy made $2 mil in his last fight. You don't need to give him quince.

[check hook]

I remember reading that somewhere. I think he is lawyer said it. I am not saying is accurate. But, I just remember I read it somewhere. I just don't remember where though...

Did Cotto get any upside from the PPV?

Because, from what I read Shane was getting 15mil flat rate. Didn't matter if the PPV did 500k or 3mill buys he would only get 15mil with no PPV upside...

While Floyd could make 40mil if the PPV does 1.5mil+

I am not saying it is accurate, but that is what I read...

the $15 mil is not a guarantee.........it's an estimate of his total earnings when they give him the back end of the PPV......as estimated by his lawyer. Not sure what figure they were working off......but i'd say they are estimateing 1.5 million PPV buys. His guarantee is prob less than half of the $15 mil estimate.