When news broke recently that Floyd Mayweather is once again in trouble with the IRS, this time over an unpaid tax bill from 2009 to the tune of $3.4 million dollars, few familiar with his history of financial problems were too surprised.
After all it was only three short years ago during his temporary retirement that Mayweather owed an even bigger amount in taxes ($6.1 million) and was rumored to be on the verge of bankruptcy, despite having headlined lucrative pay per view events consistently for several years previously.
On that occasion aside from not paying his taxes it was Mayweather’s habit of spending obscene amounts of money on luxury cars, jewelery and several costly legal incidents that eventually forced him to return to the ring.
Sound familiar?
Three years later and he finds himself in more or less the same position, currently inactive and possibly facing a return to the ring he doesn’t necessarily want in order to pay the bills.
Despite the perception he likes to present to the public and as much has he has made in recent years, $3.4 million is a lot of money for Mayweather to lay his hands on all at once.
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Also in the case of IRS liens, paying up as quickly as possible is generally regarded as the best course of action in order to avoid big penalties being added on to the original debt.
Even with the aid of his much bragged about sideline in sports betting then, there isn’t any guarantee that Mayweather even has enough cash right now to cover his bill.
Since beating Mosley in May of last year, Mayweather has by his own admission been taking time off, and appears to have spent most of his time shopping, placing bets and traveling, not to mention landing himself in trouble with the law on a regular basis and finding time to insult rival Manny Pacquiao on several occasions. Advertisement
He now faces a likely settlement with the mother of his children that he allegedly assaulted, possible settlements with the security guard he is accused of assaulting, the homeowners association of the Las Vegas community he lives in and also rival Manny Pacquiao, who filed a defamation suit against him over unfounded steroid accusations.
And that isn’t even counting the undoubtedly sizable legal fees he will have run up in the process.
The simple fact is that when he isn’t fighting, Floyd Mayweather just doesn’t appear capable of managing his money.
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He may blame this on the complexities of pay per view payments, which are often spread over several years after a fight, or as he did in the past on people in his inner circle robbing him, but in the end the buck stops with Floyd himself.
For the fans though, Floyd’s lack of financial nous isn’t necessarily a bad thing.
As indifferent as he might have become towards boxing, it remains the only way Mayweather can fund his lavish lifestyle and pay for his legal problems.
That being the case then this tax bill could be the catalyst Mayweather needs to finally motivate him enough to get back into the ring, perhaps even with his nemesis Manny Pacquiao.
Colin Rogers, Pitt: “He needs to skip betting for a day and get himself an accountant, and an opponent while he’s at it”
Curtis Brown, Philly: “Floyd needs to get himself together, he’s 34 and he can’t pay his taxes on time? And 3 million isn’t exactly just a little off.”
