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Re: Don King has loaned Mayweather half a million dollars ??
Posted: 22 Aug 2011, 18:27
by Gray-Fox
bigB wrote:he was paid $40 million for mosely alone so doubt hes skint
60 according to this:
http://www.youtube.com/watch?v=TOyb2cG6pjo
Re: Don King has loaned Mayweather half a million dollars ??
Posted: 22 Aug 2011, 18:57
by Trojans44
He appears to be a tit when it comes to money. How hard is it to note an accountant?
Re: Don King has loaned Mayweather half a million dollars ??
Posted: 23 Aug 2011, 08:28
by jamesmcdonnell
King Geedorah wrote:Gray-Fox wrote:How the hell do you know he isn't paying tax? The guy's a world class fighter with a top class team, come on.
http://www.examiner.com/fight-sports-in ... back-taxes
It may not seem a huge amount but if he's paying tax money from current purses then it becomes a vicious cycle as he then has to fight again to clear the tax from the previous contest & he'll eventually hit a point when he's not fighting anymore & the final bill arrives. It is the exact same thing that happened to Joe Louis, he assumed he'd be able to cover the back taxes but the payments all added up & it is well documented that the US government's IRS department hounded him.
I'm not suggesting he will end up destitute but it is naive to think that he's just asked for 500k cash for the hell of it. He may plan on using the Ortiz fight to clear up his last & next tax bills & Manny for his long-term future.
As for King ripping Tyson off, he did, he also made Tyson huge sums. Mike ran into Don's arms & turned his back on the people who had brought him through so it wasn't all down to Don King -- Tyson put himself into that position despite the warning signs.
Part of the reason Tyson left Cayton et. al, was that he found out that Jim Jacobs had hidden from him the fact he was dying, and that he had 'bequeated' Mike Tyson's contract to Cayton in the event of his death - without even discussing the matter with Mike, as if he was a chattel to be bought and sold with no prior consultation.
Anyone who thinks that Don King is the only shyster out there is sorely deluded, Don is just the most colourful of them, and one of the most successful.
Re: Don King has loaned Mayweather half a million dollars ??
Posted: 23 Aug 2011, 08:35
by smcb80
reading about Manny handing money out to everyone and anyone, whether they needed it or not, reminded me of hauser's stories on Ali. signing his life away to anyone that came near him, he didn't own any of his image rights & whatnot. sad that it only really seems to be boxers that can't look after themselves
Re: Don King has loaned Mayweather half a million dollars ??
Posted: 23 Aug 2011, 08:40
by states
smcb80 wrote:reading about Manny handing money out to everyone and anyone, whether they needed it or not, reminded me of hauser's stories on Ali. signing his life away to anyone that came near him, he didn't own any of his image rights & whatnot. sad that it only really seems to be boxers that can't look after themselves
It's certainly not only boxers, at least not in the U.S. The NBA players association estimates 60% of players are bankrupt five years after retirement. It's even worse in the NFL, something like 78% are bankrupt or in serious trouble just two years after retirement. Sports Illustrated did an article on it a while back:
http://sportsillustrated.cnn.com/vault/ ... /index.htm
Re: Don King has loaned Mayweather half a million dollars ??
Posted: 23 Aug 2011, 15:23
by Hardcase
Bet Hockey Players on average keep there $ much longer
Re: Don King has loaned Mayweather half a million dollars ??
Posted: 24 Aug 2011, 12:18
by Gray-Fox
Hardcase wrote:Bet Hockey Players on average keep there $ much longer
Why, because they're predominantly white?
*Slaps*
Re: Don King has loaned Mayweather half a million dollars ??
Posted: 25 Aug 2011, 22:46
by Gray-Fox
IS PACQUIAO'S FAIRY TALE CAREER HEADED FOR A TRAGIC ENDING?
By Danny Howard | August 25, 2011
Over the past couple of days, there has been more talk about Manny Pacquiao's finances than his upcoming November clash against rival Juan Manuel Marquez. Despite Pacquiao being one of the most popular athletes in the world, reports previously surfaced that Pacquiao's net worth is a shockingly low $26 million, which should come as no surprise since spam's own Ben Thompson has been quite busy documenting the back-channel talk between the Pacquiao camp and VisionQwest in terms of how Pacquaio's finances are being handled. What many people may not realize, however, is that Pacquiao's money problems haven't come from crooked promoters or bad business deals; instead, it's come from the wild nightlife that has accompanied his celebrity.
http://goo.gl/XqAb3
Re: Don King has loaned Mayweather half a million dollars ??
Posted: 26 Aug 2011, 05:21
by DavidPayne
If your life costs $10million a year and you earn $50million a year but retire at 35. You don't need an account to tell you the $10million figure is too high.
If you can slum it on $1-2million a year you were the.
Re: Don King has loaned Mayweather half a million dollars ??
Posted: 26 Aug 2011, 12:00
by bennie
King's 'suitcase' usually contains 50k.
Re: Don King has loaned Mayweather half a million dollars ??
Posted: 27 Aug 2011, 20:46
by Gray-Fox
Manny is more broke than Floyd.
Re: Don King has loaned Mayweather half a million dollars ??
Posted: 28 Aug 2011, 07:11
by smcb80
every cloud has a silver lining - if they're broke it'll mean a fight between fmj & manny will be much more likely.