Don King has loaned Mayweather half a million dollars ??

[Quixall]

I read an interview in today's mail by Jeff Powell on Don King to celebrate his 80th birthday.............

In this interview, Don King claimed that he had recently loaned Floyd Mayweather half a million dollars !!!!!!

Seems a bit odd to me and with it being Jeff Powell, i sort of took it with a pinch of salt, but then i began to think that he couldn't really print that if Don King's claims were false ? It just seems strange that if Mayweather was short of cash, he would go to Don King and especially when he has supposed to have earned fortunes from the sport.

I know other people have mentioned Floyd's financial situation before, stating that they believed he was skint, despite appearances suggesting otherwise. Can anyone shed any light on this story ??

[Andypittcov]

That surprises me but then again he likes a bet doesn't he.

[deadpan]

He needed the money for a nightclub bonfire.

[Emmseegee]

No matter what is ever said i struggle to believe that mayweather is or ever will be short of cash.

[soulboy]

isnt he known as Floyd MONEY Mayweather

[ArtOfWar]

No matter what is ever said i struggle to believe that mayweather is or ever will be short of cash.

That's being short sighted. These super rich celebrities & athletes live beyond their means more than anyone. I bet Floyd goes through money like it's water. The taxman has also cained him. Floyd will go bankrupt one day after he retires.

[Gray-Fox]

Floyd's money is likely tied up in assets. His cash-richness might not be as liquid as some of you think it is.

[zero]

What a character witness Don King would be?? I can’t even believe this is being discussed utter nonsense.

[Finch]

One way to solve his cash flow problems is to face the Pacman!

[DougieC30]

One way to solve his cash flow problems is to face the Pacman!

I thought someone would have said this earlier

[SAPFO]

But they only pay what they should of paid anyway right? Pay your bills like the rest, or face the consequences later on, simple really.

[greenyox3]

But they only pay what they should of paid anyway right? Pay your bills like the rest, or face the consequences later on, simple really.

Yep. You only get taxed on what you earn, so the fact that you owe, say, $100 means that you must have earned about $300. So these people must have some seriously shite accountants if they end up broke because of tax debts.

I don't think there's a PAYE system in the USA, so if you don't set the money aside to pay your taxes and just blow it all (or set fire to it in Mayweather's case) then you have got yourself a problem. And no sympathy from me.

[Gray-Fox]

Floyd's not broke or anywhere near it.

The loan (if it even happened) was probably just something transparent i.e. Floyd couldn't access 500k at a given moment.

[Quixall]

Seems like the answer is to have half a brain, loys of common sense and a good accountant..............

Can it be that hard !!!

[SAPFO]

Not meaning anything racial here, but why does it always seem to be the black boxers money troubles we hear about?

[Gray-Fox]

Not meaning anything racial here, but why does it always seem to be the black boxers money troubles we hear about?

Precisely.

Apparently because he is black and likes bling, he's suddenly broke. Half the shit he has is given to him, and most of it he paid for years ago. I think people underestimate how much money Floyd has made, and how overestimate how much stuff costs.

You never hear about Carl Froch being busto, yet he spends money and I'd be surprised if he;s even made 5 million in his career.

[IRLangmaid25]

Not meaning anything racial here, but why does it always seem to be the black boxers money troubles we hear about?

Precisely.

Apparently because he is black and likes bling, he's suddenly broke. Half the shit he has is given to him, and most of it he paid for years ago. I think people underestimate how much money Floyd has made, and how overestimate how much stuff costs.

You never hear about Carl Froch being busto, yet he spends money and I'd be surprised if he;s even made 5 million in his career.

And he has bought alot of property in Nottingham I remember reading.

[Gray-Fox]

Yeah I heard that too.

Mayweather has a $17m mansion lol, which I'm sure dwarfs Froch's portfolio by about $16m.

[Jon Saxon]

Yeah I heard that too.

Mayweather has a $17m mansion lol, which I'm sure dwarfs Froch's portfolio by about $16m.

Sadly Mayweather will go bust one day as the IRS take no prisoners in the US, hence Roy Jones fighting on.

[Gray-Fox]

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.

[Rocky Balboa]

No matter what is ever said i struggle to believe that mayweather is or ever will be short of cash.

That's being short sighted. These super rich celebrities & athletes live beyond their means more than anyone. I bet Floyd goes through money like it's water. The taxman has also cained him. Floyd will go bankrupt one day after he retires.

Aye, rumoured to be hit with a 6.1 million bill a few years ago & although he gets big purses he will get hammered on each & every one of them. He's got houses worth millions but the size of property necessitates a lot of money for bills, upkeep etc. & his lifestyle is lavish.

Since being hit by the IRS in 2009 he's fought twice, with one due to be contested this year, so I think the post I made above may be closer to the truth than people think.

Mike Tyson made more money than Floyd over his career, he's not broke per se but nowhere near as cash rich as he should be.

The tax system in America works well if you're economically sound or have great advisers, if you don't then you can quickly end up owing a load of money & find yourself in a position where the bulk of purse gets swallowed up by them. In relative terms Joe Louis made a lot of money, even though his management signed a wedge of his purses over to Braddock, but he still ended up owing a lot to Uncle Sam & the government broke him in a bid to take the money.

I've read in the past cases where top fighters have lost almost an entire purse to the federal government & have had to make plans to squirrel away a couple of hundred thousand from their wage in order to get something out of their fights.

It is a vicious cycle in the US if you owe the government dosh.

And Don King is partly accountable for Tyson not having anywhere near the amount of money he should have.

Tyson has great despise for King. When Tyson was Inducted into the HOF, King was there & apparently, Tyson had no time for King.

[Emmseegee]

Because he owes "x" amount on taxes etc or has been battered with tax bills etc doesn't mean he's skint.
Same with Tyson, skint compared to the Gross figure they may have earned but still extremely wealthy and living comfortable lifestyles.

[Jon Saxon]

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.

Your are kinda naive arent you?
Mike Tyson etc etc etc...ring any bells?

Then again you know boxing and I dont.

[DavidPayne]

No matter what is ever said i struggle to believe that mayweather is or ever will be short of cash.

That's being short sighted. These super rich celebrities & athletes live beyond their means more than anyone. I bet Floyd goes through money like it's water. The taxman has also cained him. Floyd will go bankrupt one day after he retires.

Aye, rumoured to be hit with a 6.1 million bill a few years ago & although he gets big purses he will get hammered on each & every one of them. He's got houses worth millions but the size of property necessitates a lot of money for bills, upkeep etc. & his lifestyle is lavish.

Since being hit by the IRS in 2009 he's fought twice, with one due to be contested this year, so I think the post I made above may be closer to the truth than people think.

Mike Tyson made more money than Floyd over his career, he's not broke per se but nowhere near as cash rich as he should be.

The tax system in America works well if you're economically sound or have great advisers, if you don't then you can quickly end up owing a load of money & find yourself in a position where the bulk of purse gets swallowed up by them. In relative terms Joe Louis made a lot of money, even though his management signed a wedge of his purses over to Braddock, but he still ended up owing a lot to Uncle Sam & the government broke him in a bid to take the money.

I've read in the past cases where top fighters have lost almost an entire purse to the federal government & have had to make plans to squirrel away a couple of hundred thousand from their wage in order to get something out of their fights.

It is a vicious cycle in the US if you owe the government dosh.

If you want to see the effect having your entire purse taken from you can have on you desire to fight, watch Hatton v Castillo.

[bigB]

he was paid $40 million for mosely alone so doubt hes skint