It's no secret that hall of famer Floyd Mayweather needs money and that's a major motivation for him continuing to fight, but now the Internal Revenue Service says he owes a massive amount in back taxes and penalties.
Floyd Mayweather’s financial troubles show no signs of easing anytime soon, as the Internal Revenue Service (IRS) has reportedly placed a $7.3 million lien against the retired boxing superstar in Las Vegas, citing unpaid taxes from 2018 and 2023. This lien gives the federal government the authority to seize Mayweather’s assets if the debt remains unresolved.
Despite generating more than $1 billion in revenue throughout his Hall of Fame career, Mayweather has long been known for his extravagant lifestyle and public displays of wealth. And, now, those habits appear to have caught up with him.
This latest development adds to a growing list of financial concerns for the 49-year-old former champion who has several exhibitions and an actual official fight scheduled for later this year.
Listen to insider Dan Rafael discuss the situation with more insight on the IRS troubles for Mayweather on our "Fight Freaks Unite Recap Podcast" by clicking play below,
Rafael further reported that Mayweather's financial troubles have caused his Las Vegas boxing gym to be foreclosed and that his adult entertainment club there has also shut down.
In an effort to stay active and try to generate income, Mayweather is scheduled for a September rematch with fellow hall of famer Manny Pacquiao, which is supposed to be a legitimate, sanctioned fight counting against their records and suppose to stream on Netflix. However, confusion continues to surround the nature of the bout. While Netflix has promoted it as a professional fight, Mayweather claimed last weekend taht it will instead be an exhibition, with key details still unresolved.
Complicating matters further, Jas Mathur, CEO of Manny Pacquiao Promotions, alleges that Mayweather has already accepted advance payments for the fight and is now in breach of contract. Mathur also claims that Mayweather has taken out a significant loan tied to the event.
In addition to the Pacquiao rematch, Mayweather is reportedly planning exhibition bouts against legendary former undisputed heavyweight champ, Mike Tyson and against noted kick boxer Mike Zambidis in his home country of Greece.
Meanwhile, Mayweather has filed a sensational lawsuit against his longtime broadcasting partner, Showtime Boxing and their former president Stephen Espinoza, seeking more than $340 million over alleged misappropriated funds related to past pay-per-view events.
However, the process of the lawsuit, including a possible win in civil court or a large settlement before litigation for much less than $340 million could take years to sort out.
These ongoing financial pressures have kept Mayweather in the ring long after his official retirement, which followed his 2017 victory over Conor McGregor that placed his all time record at a perfect 50-0.
Since then, he has participated in several lucrative exhibition fights, facing opponents such as Tenshin Nasukawa, Logan Paul, and others.