Last Saturday, Floyd “Money” Mayweather posted a picture of himself, leisurely resting on a Kroenigsegg CCXR Trevita, a supercar of which only two were made. At a price point of $4.8 million, Mayweather is now the owner of the second Trevita in the world.
Eight months ago, on January 5th 2015, Mayweather posted a photo of himself in front of his lavish fleet of supercars and his private jet with the cryptic tagline, “Welcome to my world.” According to many news outlets, the cars alone, inclusive of two $2.3 million Bugatti Veyrons, are worth around $15 million.
Mayweather, boxing’s only true superstar, understands the value of reinvention and has enjoyed the transformation from “Pretty Boy” to “Money” every step of the way. However, it harkens to an old adage in professional sports, ‘save, save, save because when you are playing you never think the money will run out.’
Many boxers, like world famous “Smokin’” Joe Frazier died penniless from boxing or lived under a cloud of bankruptcies from financial mismanagement. Mike Tyson famously had a 52-room, 50,000 square-foot mansion inclusive of a movie theater, a nightclub and a lion; a house which 50 Cent purchased and has been trying to sell unsuccessfully for the last few years.
In comparison, Mayweather has his aptly named “Big Boy Mansion” replete with its own Instagram account and baubles like Fendi chandeliers, a 12-person shower and a two-screen home movie theater with stacked screens. He never drives his cars, unless to the gym or for media day boasting and routinely has used social media to showcase his female assistants and cohorts cruise their posh gated community parading the fleet for personal enjoyment.
It is a cocktail that has been sipped by many and intoxicated them all because a life of coveting and validation from luxury items will undoubtedly lead to ruin. Luxury and the "lifestyles of the rich and famous" is at the source of the Mayweather pay-per-view lifestyle sales pitch, but has its poisoning ability tainted Team Mayweather as he closes out the richest era boxing has ever seen?
According to a 2009 Sports Illustrated article, 60 percent of former NBA players are broke within five years of retirement. Even earlier, by the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress. These statistics and incidents are so alarming and eye-opening that it eventually led to the 30 for 30 documentary "Broke."
Between the maintenance of a high luxury lifestyle, bad investments, poor financial advice or lack thereof, and a myriad of other potential factors, most professional athletes are only prepared for the living while the cash flow remains high and steady, not for life after retiring from the playing field.
Now lets be clear, Floyd Mayweather is not like any other athlete on the planet. In fact, he holds the distinction of being the highest paid athlete, of any sports genre, on the planet.
Craziest part is that he only fights twice a year.
When Mayweather fought Manny Pacquiao last May, the event billed as “The Fight of The Century” generated a record-setting $600 million in total revenue, of which Mayweather received nearly 40 percent. According to ESPN’s Darren Rovell, a source within the PPV industry estimated the event generated over 4.4 million buys and over $400 million in PPV revenue; add to that figure the revenue from ticket sales and the event generated approximately $600. Based upon the agreed-upon 60-40 split with Pacquiao, Mayweather would take home an estimated $220 - $230 million. Even more staggering is the fact that over the 14 pay-per-view fights in Mayweather's career, it's estimated that he generated over $1.3 billion, a record notes Rovell.
Mayweather’s next fight in September against Andre Berto is his last and although it will not generate nearly as many PPV buys, it will still generate astronomical numbers for the boxer in relative terms and add to his record setting PPV career numbers.
Mayweather owns a series of businesses, famously telling this reporter that he owns skyscrapers in New York’s Times Square area. His TMT, or "The Money Team," clothing line is worn universally and globally and he also owns sports betting app, Shotz, in addition to other investments.
Advised by longtime music touring industry impresario, Al Haymon and Mayweather Promotions CEO, Leonard Ellerbee, Mayweather is surrounded by those who have steered him clear of the red and into the black for many years now.
I believe that Floyd Mayweather, after seeing the financial instability of his father, uncles, former boxing champions, coupled with witnessing the mental instability suffered by his uncle and former head trainer, Roger Mayweather, will weather any pending financial storms and the upcoming retirement from the sport of boxing.
What he must do is avoid his penchant for legal problems outside of the ring as legal fees and jail time only eat at your countenance and bank account balance, and do so very quickly.
However, if Floyd Mayweather, Jr. can beat Andre Berto on September 12th then not only will we witness the matching of Rocky Marciano’s undefeated record and usurpation of a game-and-never boring fighter in Berto, but also the biggest earnings year for any boxer in the history of the sport and any athlete that has ever performed this beautifully for this long.
I personally wish Mayweather luck as he has used the power of currency to propel his folklore. Let’s just hope while he was stirring the world to dance the Money dance that he too didn’t believe his own bombast.