The Floyd Mayweather money problems are all piling up much more than the alleged $7 billion with the IRS as well.
It is thought that Floyd Mayweather burned through in spending at least $150 million dollars in rapid speed in recent times.
Some think he might have burned through as much as $190 million though — the former being more conservative an estimate than the latter.
Now he is having fight events cancelled even for exhibitions like the one in Greece last week and a recent one in Africa with Mike Tyson.
As well as having the professional boxing rematch, the big one with Manny Pacquiao, called off as well this year.
He has allegedly even took pay advances out of some of these fight purse cheques as well — Pacquiao claimed as much at least.
Without getting into numbers, here is a look at where he might have churned through so much cash quickly.
Mansions and Properties
Floyd Mayweather was renowed back in the day for the ‘Big Boy’ mansion pad he got in Las Vegas in the US.
But he bought many properties and apartments and real estate around the country and many of them did not in fact work out at all.
So much so some are litigating against him right now for unpaid rent on buildings and so on.
He used to always talk about real estate.
He never does anymore.
Sports Books
Floyd Mayweather had some legendary wagers on NFL and NBA games in the US at sports books over the years.
Sure, occasionally, he posted a ticket of his wagers.
Only when he won.
He lost a lot more than he won.
He went through millions we believe on bad wagers at the sports book and let this be a lesson to any young athlete.
Jewelry
Mayweather bought so much bling he could have cooled the hot summers of Nevada single handily at one point with the amount of ice he had.
Gold chains, pointless expensive watches and all sorts or bracelets and so on — absurd spending from him.
It was not needed.
You best believe he is selling it or has sold some of it right now.
Cars
This would have hit him more than the above chains and watches and so on — too many uneeded luxury vehicles.
Sure.
Have a few if you have done well.
Who is to tell any man how to spend his money or pocket watch another.
That said, Floyd Mayweather had enough time to educate himself on his financial spending for years.
Many years.
He could have had more than 20 high end luxury vehicles at one point, maybe much more actually.
Some of which he probably never even drove or seldom even got into.
Cars depreciate in value — the second the leave the garage they are bought from.
A terrible asset in terms of looking to flip them for big money after purchase.
That has never happened in the history of the cars and automobile business.
This would have stung Mayweather badly in recent years.
No doubt about it.
Lawyers and legal fees
There is no need for lawyers if you are smart and doing the right things or have your own in-house legal team.
This was not the case with many of Mayweather’s alleged mishaps everyone is seeing in recent times.
Without commenting on any individual cases, there is so many of them just in the news alone now.
Maybe the most any professional boxer in the history of boxing has ever dealt with.
Literally.
Where there is that amount of smoke there has to be some fire. That’s the truth of it.
That is just the news as well and maybe accounts for about 20 per cent or so only of the real number of cases coming at him at the moment in the US.
As US resident and US citizen, based in the United States, Floyd Mayweather was not a foreign alien in many of his dealings with US companies and should been aware of the country he was living in.
The Statute of Limitations (usually of 7 years State to State) will have not been up yet for many of Mayweather’s mishandlings with shady, unsavory characters in America.
A country that sometimes, unfortuntaely, gives rise to some very stupid people that frequently have frivolous lawsuits dismissed and so on.
Mayweather should have made smarted moves as someone from the US and living in a country that is as wild as America is at the moment. Particularly at the moment.
Especially with some of his stuff away from boxing — like Crypto and so on.
Donald Trump does not run America. The US government does.
Floyd Mayweather will speak with them soon at some point we would expect.
Crypto
There has been a lot speculated on how much Mayweather could have blown on crypto currency.
A highly spurious commodity and likened to rat poison of the assets and investment industry.
Crypto currency might have been hot years ago, the flavor of the month some years ago — but now no one wants to touch it or be associated with it anymore.
It is a non-producing asset, meaning, it does not produce or make any goods or services for the general public of use.
Like companies and traditional stocks do of companies and so on. There is no real utility in crypto.
All crypto and bitcoin really has is scarcity as a commodity.
Meaning, only so much of it will be mined and so on — so they say garbage things like — hurry buy now — and more rubbish that is churned with it.
Mayweather should have been smarter and thought ahead and read behind between the lines that the major players on Earth were only leading him and others all along about crypto.
He got played and should have been smarter.
There’s a sucker born every minute.
Bad Investments
This was be we believe where Mayweather has spent most of his money in record time on.
He used to always say things like he made ‘smart investments’ and while he slept ‘he earned money’ and made his money work for him.
No he did not.
The type of investments are all of the above already mentioned but others as well across different industries.
Remember the Floyd Mayweather gyms across the country that he was trying to roll out at once point for instance?
The same Mayweather gym chains that are clearly not doing good.
Floyd Mayweather was advertising vodka at one point in Instagram, what the heck was that all about?
Mayweather was also looking at buying into the NY Giants — what happened that?
It fell flat on its face is what it did.
Let that sink in.
Bad Advise, Adviser and Manager – Al Haymon
Last but not lease, he used to always say back in the day ‘I want to thank Al Haymon’.
Haymon was his long term adviser and manager in boxing and in many areas of business after he left Bob Arum’s Top Rank back in the day.
Haymon, like Arum and Mayweather, are all rapidly coming to their end in boxing at the moment in terms of no longer been relevant.
Haymon used to apparently tell fighters to save their money and think of things after boxing.
Haymon is now nowhere near to be seen anymore for Mayweather. He is done.
Gone.
Mayweather and Al Haymon are now beefing and no longer associates or friends.
Mayweather never thanks Haymon for nothing anymore.
Let this be a lesson to young professional athletes on advisers, agents and managers.
Take note.
Floyd Mayweather, pride comes before the fall.
We could go a lot further.
Much further.
Dissected.
Check out our latest boxing news.