Mayweather pays up, $5.6 million goes to IRS
by Scott Christ on Sep 22, 2009 6:36 PM EDT
in Boxing News Analysis
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No matter how many times Floyd Mayweather Jr. and Leonard Ellerbe claimed that Mayweather didn't owe any money, it was hard to deny that the IRS was calling.
Let's recap the saga of Floyd's financial trouble stories, just really quickly, so that I don't have to be creative and work it into a proper paragraph:
- July 3: An AP report comes out claiming that Mayweather owes $6.17 million to the IRS, and has other assorted debts, up to and including $320.10 to a trash collector. Ellerbe tries to spin with, "Hey, you know how the IRS is! They find you! They take your stuff! Look at Wesley Snipes!" Nobody buys it.
- September 15: JP Morgan Chase Bank sues Mayweather for roughly $167,000, the remaining balance on a Maybach that Floyd bought with a loan from them. Mayweather is currently telling some story about reselling it himself, and the guy he sold it to screwed him, or whatever.
- September 17: Reports surface of the IRS coming in to take about $5 million of the purse Mayweather earned in his Saturday win over Juan Manuel Marquez. The Mayweather camp continues trying to convince people that there are no tax problems, despite every single piece of evidence pointing to massive problems for "Money."
Today, the AP reports that Mayweather has agreed to pay $5.6 million in back taxes. So either Mayweather and Ellerbe just now learned of this, or they've been lying. What do you figure?
Actually, that's not totally fair. I mean, they were lying, but it was also a matter of privacy. Neither Floyd nor anyone else wants their tax problems made public, no matter if they're a public figure or not. I get what the point was -- it's not our business, really, if Floyd is having money issues or not -- but someone should have had the savvy to at some point simply reply, "No comment." Instead, they bragged about money, with Floyd showing off his absurd mansion on "24/7" and blatantly saying, "My s**t's paid for, what about yours?"
That, in turn, just kind of further turns people off. Mayweather is a guy with devils and angels on his shoulders. No, I don't think he's a bad human being, really, but he's also not the misunderstood gentleman. He wants it both ways. He wants people to love the flashy braggart, and when they don't, he blames them for being biased. It's all insecurity, really, and it seems like every writer and media personality is starting to use the word "insecure" when talking about Floyd. There's really no hiding it anymore, and it's starting to at times outweigh his great talent. His internal personality wars are a lot more interesting than his fight with Marquez was for sure.
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Not really boxing news..
who cares about this? leave the man and his personal business like that alone.
He’s a boxer. It’s news. It also could be a factor in how soon he wants to come back and fight, since boxing is where he earns his keep.
Bad Left Hook
"Well Howie, I think I'm going to stay outside and outjab him." -- Tex Cobb telling Howard Cosell how he would approach Larry Holmes
by Scott Christ on Sep 22, 2009 7:09 PM EDT up reply actions
It’s boxing news because it can have a huge impact on when and more importantly who Floyd fights. His priorities may shift from safely continuing to establish a legacy as a great boxer to making the most money as quickly as possible, and that may require taking more risk in who he fights. Floyd’s financial problems could create some great fights.
"I swear to God, I'll take this ******* ball and shove it down your ******* throat" - Serena Williams
Mayweather was asked about it at the post fight presser by Tom Looney of fox sports
And he went on the attack, using the “personal business” line, and saying stupid things like, “I don’t go to your house and ask you about your business” (paraphrased).
The way the question was phrased made it, I think, a legit question, and one that gets at what lcollins1 is saying below, because Looney asked about the rumor that the golden boy paid the IRS for Mayweather, and what does that mean for future fights.
You look at Looney’s
twitter page, the last update is about mayweather fighting mosely first “as a favor to Oscar de la Hoya”.
Who knows if the rumor was true, but if that fight comes to pass, maybe there’s your back story right there?
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It's not a matter of privacy
Since tax liens are public information.
Bad Left Hook - The SB Nation boxing blog
"Baseball is played on the field, not on a calculator."
Why do you care?
Why do you care, orwhy would anyone else care about what this man owes. I realize you are a journalist, and your job is to enlighten the community at large about the goings on in the fight world; However you are doing much more than that when your statements are as opinionated as a common spectator, or mayweather critique. I do respect your information, and I’m sure you’ve reached out to all of your sources to find out information about this mans financial well being. If I may play devil’s advocate for a moment regarding the debt subject. Can you drain your sources, for statistics of how many millionaires, young and old owe the IRS funds. Business men and women, actors, actresses, and sports figures have all owed monies. Oh my guess what even common folk such as me have even had garnishments taken from pay check to pay check from the IRS. So sir WHAT IS THE BIG DEAL. If I may point out to you something that may have felt a little like a 747 flying over your head. You have had the privliledge of watching one of the greatest fighters of all time move up through divisions, and hold titles, and continue to demonstrate his life long craft in the ring and in font of your eyes. Good or Bad with no negativity towards you or your column. Please don’t fprget that yeah he’s a cocky or confident yeah he’s flashy, and can be out spoken. I and even his biggest fans know that. But sir lets not forget that his fans or his critics would never have known his name if it wasn’t for his performances. I would also like you to ask yourself were there truly any great fighters in history. Even “THE GREATEST” and we all no who that is was a self proclaimed name. Yet he is celebrated today as just that. What made those fighters that you believe were great in your mind, and does mayweather posses those qualities. I’m sure we can agree that he does. I’m sure if and maybe when you win the Pulitzer, you just may have a bit more confidence than the typical columnist. That’s my point I hope it had an impact on you. Keep writing, but don’t forget these guys aren’t training in the gym for years at the age of 7 to be humble, and lack in confidence.
No, I actually agree, and that’s why I brought up the privacy part in the post. I understand why Floyd and Leonard Ellerbe tried to spin it, I just think saying “No comment” would’ve been better image-wise, would’ve kept so many people from harping on it probably. I really don’t care what Floyd owes, and I hope he straightens it all out, is smart with his money, and doesn’t wind up one of those sad boxing cases. When this started back in July one of the things I said was this:
This isn’t about disgracing Floyd or anything. These things happen. Richer folks than Mayweather have screwed up their finances beyond belief. As huge a figure as $6 million-plus is, it’s quite fixable in his position.
And I truly believe in that. Floyd made some mistakes, like countless other folks do. You know what he did? He went to work and he’s fixing it. That’s admirable. And the man is an amazing talent whose skills I have never doubted.
Thanks for the post and the discussion.
Bad Left Hook
"Well Howie, I think I'm going to stay outside and outjab him." -- Tex Cobb telling Howard Cosell how he would approach Larry Holmes
by Scott Christ on Sep 23, 2009 11:46 PM EDT up reply actions
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