Why doesn't Mayweather promotions have License?

[arraamis]

Don't know whether you guys know that the NSAC & every other commission has to legally declare what Promoters are permitted to promote year to year.

2014
Not Published

2013
http://boxing.nv.gov/uploadedFiles/b...t-07-11-13.pdf

[Kuyukut]

What are u morons laughing at. Mayweather promo has had their own events with just his fighters. On boxrec for a gbp fight the promoter says Richard. For the mayweather promo fights it says ellerbe. What don't you idiots understand. Floyd is the face of the company like oscar. And ellerbe is the actual promoter like Richard. Comprende?

now you're projecting yourself worst than an idiot but please continue i need a good laugh. lmfao

moron...

[HanzGruber]

now you're projecting yourself worst than an idiot but please continue i need a good laugh. lmfao

moron...

Sorry you and junior don't don't work with facts too well

[rayb112]

Yeah...it can be ignored.

If you want to show that Mayweather Promotions has a License, then I suggest you reference the website of the Nevada State Athletic Commission - the ultimate Authority of who has, and who doesn't have, a Promotional License in the state of Nevada.

For example, you can easily determine that guys like Arum, Oscar and even 50 Cent have Promotional Licenses....but not Mayweather.

In the future, I suggest you grow a brain and get Mayweather's nuts out of your mouth before you post.

https://fortress.wa.gov/dol/dolprod/...chResults.aspx

[rayb112]

Don't know whether you guys know that the NSAC & every other commission has to legally declare what Promoters are permitted to promote year to year.

2014
Not Published

2013
http://boxing.nv.gov/uploadedFiles/b...t-07-11-13.pdf

https://fortress.wa.gov/dol/dolprod/...chResults.aspx

[22k]

See this post

http://www.boxingscene.com/forums/sh...0#post14478020

There are a lot of responsibilities & costs associated with being a licensed promoter that Mayweather doesn't want to deal with. The company is probably set up for taxation purposes & benefits it can provide.

http://www.badlefthook.com/2012/3/5/...riorkis-gamboa

With the news today that Yuriorkis Gamboa might be going to Mayweather Promotions, many people have been asking a number of questions about this organization. First of all, Mayweather Promotions is a limited liability company (an LLC) in Nevada. Being a LLC in Nevada has a bunch of tax advantages including no personal income tax, no corporate tax, no gift tax, and no unitary tax. There are also liability advantages for being located in Nevada including the fact that officers (C-level, presidents, vice presidents, etc.) cannot be sued as an individual for actions tied to the company, except for outright fraud. There are a bunch of business-friendly privacy laws in Nevada as well. I assume that there is some liability and tax advantages for funneling Mayweather's cash through Mayweather Promotions, and that's why it exists.

Now you may have heard either Scott or many other people say that Mayweather promotions is not a licensed promotional company as can be seen here. In Nevada, you have to go through a licensing procedure before the Nevada State Athletic Commission would recognize a LLC which are listed on the NSAC website. Essentially, there is a bunch of paperwork to fill out and there is a sizable fee to pay to NSAC.

It is not a difficult procedure but once you become a licensed promoter, the company becomes responsible for a ton of logistics related to putting on a fight. The promotional company is responsible for paying officials, drug and steroid testing, primary medical insurance for the fighter, making sure an ambulance is at the arena, paying ticket fees, paying television fees, submitting the appropriate paperwork, scheduling the proper events, getting the proper licenses, hire a ring announcer, make sure the fighters have appropriately stocked dressing rooms, a proper scale for the weigh-in, supplying approved gloves, issuing credentials, and giving officials parking passes. Whew, that's a whole lot of stuff, and it's why Mayweather Promotions does not want to become a licensed promoter.

I would assume that Mayweather Promotions would need to hire a bunch of people to make sure all of these logistical issues are appropriately handled. Basically, they would need to have an actual business and I don't think Floyd has any interest in the logistics of a fight.

Whenever a "Mayweather Promotions" fighter like Jesse Vargas fights, the promoter responsible for these logistics is Golden Boy Promotions. This is why Scott and others frequently call Mayweather Promotions a poster and nothing more.

[Jimmy The Geek]

See this post

http://www.boxingscene.com/forums/sh...0#post14478020

There are a lot of responsibilities & costs associated with being a licensed promoter that Mayweather doesn't want to deal with. The company is probably set up for taxation purposes & benefits it can provide.

http://www.badlefthook.com/2012/3/5/...riorkis-gamboa

No. If taxes were the only thing that mattered, then an LLC would not be neccessary - not even regular incorporation would be neccessary. However, an LLC is a relatively easy way to share profits and limit liability in this case.

[The Tase]

See this post

http://www.boxingscene.com/forums/sh...0#post14478020

There are a lot of responsibilities & costs associated with being a licensed promoter that Mayweather doesn't want to deal with. The company is probably set up for taxation purposes & benefits it can provide.

http://www.badlefthook.com/2012/3/5/...riorkis-gamboa

that's a lot of responsibility, work, and costs hence why floyd will never be a legitimate boxing promoter.

reading through that stuff, can anybody actually think floyd is mentally and financially responsible enough to become a promoter that challenges arum and gbp?


just remember the last time floyd tried to start a business, they got evicted for non payment.

if you were a boxer, would you seriously put your career in the hands of a guy who doesnt even have a high school education?

i wouldnt.

[The Big Dunn]

I've always wonder why Mayweather promotions dont have a promotions license in Nevada,
They have to use golden boy to promote there fights, how will that work if schaefer leaves. Haymon does not have one either like to see how this plays out.

The company seems to have been set up solely to allow floyd to reap some profit off all of the revenue streams generated by his fights. Maybe he and schaeffer will form a more "complete" promotional company when he retires.

[The Tase]

floyd is only good for one thing, boxing.

as soon as floyd can no longer command a crowd when he fights, his network of alleged business partners like GBP, haymon, schaeffer, will all abandon him.

if you look at floyd's history, he fails at everything except boxing inside the ring.

His rap career failed.
His lottery soda failed.
His Philty Rich Records failed.
His relationships with women always fail.
His investing career was an epic fail (getting sued for backing out on real estate deals and getting swindled a cool 20 mill by willie)

Do you honestly expect a guy with such a volatile and disagreeable personality like floyd can have lasting business relationships especially in a game filled with shady crooked ass people as there is in boxing?

He cant even get along with his dad or hold down a relationship with a female but he's gonna be a successful being corporate?