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

[Danny Gunz]

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.

Why do people care about these guys money so much, it means absolutely nothing to us.

[Carpe Diem]

Why do people care about these guys money so much, it means absolutely nothing to us.

LOL @ your sig. What a douchebag that guy is!

[mozzer101]

Do you guys really believe anything that Floyd says? The worst part is people really do.

[boxer2k5]

STFU Floyd! No one gives a ****.

shane does and thats the point

[And Still]

Why do people care about these guys money so much, it means absolutely nothing to us.

And when you see that in the thread title, you are welcome to proceed to the next thread.

Do you go to restaurants to tell them that you won't be eating there?

[Danny Gunz]

And when you see that in the thread title, you are welcome to proceed to the next thread.

Do you go to restaurants to tell them that you won't be eating there?

I figured this would be the answer I'd get back.

No but these threads pollute NSB all day I figure if maybe i pop my head in every once in a while i can talk some sense into the people in it.

[And Still]

I figured this would be the answer I'd get back.

No but these threads pollute NSB all day I figure if maybe i pop my head in every once in a while i can talk some sense into the people in it.

Yeah. 1 in 150,000 is a real pollutant.

Thanks for boring us, Danny. Your mission has been accomplished.

[Castor_Troy]

50% if you're Self Employed??


Damn Floyd should take care of his money starting today to have a decent chance of staying Rich for the next 10 yrs.

So if he grossed 50M he'll end up getting more like 20M after taxes, promoters, managers and other expenses?

Now i understand the troubles of Thomas Hearns, Evander, Mike Tyson etc.

[And Still]

50% if you're Self Employed??


Damn Floyd should take care of his money starting today to have a decent chance of staying Rich for the next 10 yrs.

So if he grossed 50M he'll end up getting more like 20M after taxes, promoters, managers and other expenses?

Now i understand the troubles of Thomas Hearns, Evander, Mike Tyson etc.

There are major tax implications for these guys.

For example, if Mayweather Promotions is a company, they have to pay corporate income taxes, AND Floyd has to pay his individual income taxes.

For a self-employed high-earner, the effective tax rate is 35% federal, plus state taxes, plus local taxes..PLUS 15% self-employment taxes (up to a limit). In NYC, for example, you end up paying MORE than 50%.

Basically, a smart person just has his accountant deduct the money and set it aside in an interest-bearing account. Don't even touch it. Because you know if you "take it home" you will buy a Maybach with gullwing doors or some other dumb ****.

Floyd has been really dumb with money in the past. investing his money in depreciable assets. He (like Manny) continue to blow tons of dough on security and entourages and ****.

Manny just flew 130 people on a plane. Floyd had a seven man security team. Would YOU want to feed those guys?

If I were Floyd's money manager, I would set him up on a pension, and a deferred comp package. It's the one smart thing that OJ did.