Mayweather swindled of a huge chunk of cash

[Scipio2009]

According to The Sun, a UK Tabloid, Mayweather was scammed out of his hard earned cash and he needs to fight to replace some of it. He is not broke yet but someone relieved him of a lot of it.

Hope its not true but it pays to be educated in the long term.

Source or shut the **** up.

Folks have been trying to push this "Floyd is going broke" story for long enough that the patter is hilarious.

To hear Floyd tell it, he got $300m off of the Pacquiao fight, after already making at least $200m on the other 5 fights on his Showtime deal, after making at least another $200m on the four fights after his initial retirement, with at least $50m coming from his breakout fights against Oscar and Hatton (where Floyd was already financial solid by that point).

Floyd's not stepping into the gym, getting beat on, for a check, unless it's for $100m.

He's not getting punched in the head for a stay-busy paycheck, like Manny Pacquiao.

[GMAN SUPREME]

froid had tax troubles too

[billeau2]

Floyd has people, fcking ivy league educated, managing his money. He is also making more money promoting.. These flame threads are ridiculous, even if you are just an idiot and believe your article/ source.

"Those damn Harvard mba's, always squandering half a billion dollars with terrible investments. " never heard it..have u?

Moron. Stop.

Its always the people the most misled that feel the need to demand that other's "stop." So you think Ivy league hedge fund type guys are there to manage and make their clients money? Let me give you something to consider. How many of these guys does someone like Buffet use?

Those harvard MBA's certainly make money... just not for others bro. Did you know that there isn't a stock fund that exists that has consistantly outperformed a basic index fund? And yes there are those who are in the club and get in on the real deals and Floyd ain't one of em. Floyd's a mark, pure and simple, one to be separated from his capital. Hence the swindle and the gambling, etc.

Bernie Madoff was not actually an Ivy leager but nobody knew that, he played the part well. He managed the assets of lots of superstars by the way.

It just does not work that way...there is no magical money managers who scrape for your extra dime. If you just look around you you can see what I am saying. In New Jersey the doctors and lawyers live in relative poverty, the real big houses belong to the money managers bro! Thats not from making their clients money lol.

[Scipio2009]

It also pays to NOT be a gambler.

Never been a fan of Mayweather but I must say, whether this is true or not, this will most likely be the case in the future. And just like you, I hope I am wrong. I don't wish it on anyone.

Gambling is only an issue, when you don't have anyone in your camp who knows what's going on; not Floyd's accountant, but Floyd's constant gambling, likely with the same handful of sportsbooks (possibly even a single sportsbook), sets the stage for his gambling being seen as a hobby/business (where he can offset the losses as business expenses in his taxes).

Doubt his smarts all you want, Floyd has kept his core circle to Al Haymon, Richard Wright(lawyer), Leonard Ellerbee(friend and business manager), "P-Reala" James McNair (best friend), DeJuan Blake (gym manager), and his accountant, with no woman set to take half of anything from him.

Floyd is going to be just fine

[Scipio2009]

https://www.thesun.co.uk/sport/3085486/floyd-mayweather-is-back-in-boxing-ring-because-he-got-swindled-out-of-a-lot-of-money/

hearsay, from a secondhand conversation from a guy who's likely never spoken to Floyd? lol

[billeau2]

Not that i believe that article, or even read it for that matter...but who exactly do you think swindles people out of large sums of money?

Oh brother how I wish I could give you more green K on this one!

This article is in a sense irrelevent, Floyd fits a pattern.

[mathed]

I think Floyd is a punk personally but as an athlete, I have to respect his skills. It should have been evident to anyone who remotely knew who he was that the lifestyle that he was able to attain for himself required a TREMENDOUS amount of cash flow. Add to that fact his propensity to gamble compusively, and it's pretty obvious that it wouldn't be too long before he had exhausted a large portion of his wealth.

I remember reading something last year where he got ripped off by some other guy back in the day. Maybe someone took him for a couple hundred grand? I forget all the details but it was something like that.

He's pushing for that McGregor fight pretty hard now when he was laughing at the idea just a few months ago. There could be some truth to it.....I wouldn't be surprised at all honestly. One of his "friends" convinced him to come in on a deal that was too good to be true and guess what?

[billeau2]

Gambling is only an issue, when you don't have anyone in your camp who knows what's going on; not Floyd's accountant, but Floyd's constant gambling, likely with the same handful of sportsbooks (possibly even a single sportsbook), sets the stage for his gambling being seen as a hobby/business (where he can offset the losses as business expenses in his taxes).

Doubt his smarts all you want, Floyd has kept his core circle to Al Haymon, Richard Wright(lawyer), Leonard Ellerbee(friend and business manager), "P-Reala" James McNair (best friend), DeJuan Blake (gym manager), and his accountant, with no woman set to take half of anything from him.

Floyd is going to be just fine

You seem personally invested. You can be there in the Popeye's bin and help him find the nubs with meat on them, then you guys can have a discussion about financial matters...or should I say fine-an-sell-shall matters as in "how much you sell that watch you paid 2 million dollars four? you know the one that looked like it came outta bubble gum machine?"

just messin with you. I HOPE YOUR RIGHT and Floyd defies the odds, I really do.

[Scipio2009]

Let me guess...You think money last forever...

money makes money, especially if given time and the right vehicle.

Floyd has real estate property locked up that's paying him a $1m residual every month, and that's just the start of his investments.

Add on effective tax management for his current revenues and, though Floyd's money won't last forever, he's setup to have money for the rest of his life, money for the rest of his children's lives, and likely money for the rest of his grandchildren's lives.

[Scipio2009]

How often does he promote a fight? Mayweather is a gambler. Sports are year round. And that's assuming he doesn't gamble on anything else.

... you can write off gambling winnings/losses if 1) you are a regular gambler and 2)can effectvely log all of your bets.

Hobby business expense, If I'm correct, is where you'd find the line in the tax code.