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Undefeated boxer Floyd Mayweather claims in a recent court petition that he will not have enough money to pay what he owes on his 2015 taxes until he is paid for his August 26 superfight with UFC champion Conor McGregor.
What Happened?
According to Law360.com, Mayweather requested a reprieve from a tax court until after the bout with McGregor as his current assets are “restricted and primarily illiquid.”
The petition, filed on July 5th, is based on the Internal Revenue Service initially refusing a short-term installment plan, citing the fact that Mayweather has the means to pay the debt immediately.
“Although the taxpayer has substantial assets, those assets are restricted and primarily illiquid,” the petition said. “The taxpayer has a significant liquidity event scheduled in about 60 days from which he intends to pay the balance of the 2015 tax liability due and outstanding.”
The exact amount Mayweather owes in back taxes is unknown.
Mayweather (49-0, 26 KOs) has not fought since beating Andre Berto in September 2015. The boxer reportedly earned $32 million for that fight.
His 12-round bout against McGregor will be fought at 154 pounds and Mayweather’s purse could approach or even exceed what he made for his May 2015 fight against Manny Pacquaio, which was estimated to be $220 million.
Mayweather has generated approximately 19.5 million in PPV buys and $1.3 billion in revenue throughout his career, surpassing the likes of former top PPV attractions including Mike Tyson, Evander Holyfield, Lennox Lewis, Oscar De La Hoya, and Manny Pacquiao.
Floyd Mayweather
Floyd Mayweather, 40, is an American boxer and promoter. Widely considered to be one of the greatest boxers of all time, undefeated as a professional, and a five-division world champion, Mayweather has won fifteen world titles and the lineal championship in four different weight classes (twice at welterweight). As an amateur he won a bronze medal in the featherweight division at the 1996 Olympics, three U.S. Golden Gloves titles (at light flyweight, flyweight, and featherweight), and the U.S. national title at featherweight.
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