The real reason Floyd Mayweather is fighting Conor McGregor
Stephen A. Crockett Jr., The Root | 7/11/2017, 11:22 a.m.
Floyd “Money” Mayweather Jr. is rich. Superrich. He’s also really shallow and vapid. As such, he has 100 girlfriends and almost as many cars. It’s hard to keep up with the reported $700 million he’s made during his fight career, but at one point, Mayweather was burning $100 bills in the club.
Well, it turns out that Insta-thots weren’t the only ones clocking Mayweather’s money; Mayweather owes taxes from 2015, and the IRS wants its money.
According to the New York Daily News, Mayweather has filed a Tax Court petition “claiming he cannot pay off an undisclosed amount in tax liability from 2015 until after his showdown with Conor McGregor on Aug. 26.”
Mayweather is asking for the IRS to give him a pass until the fight so that he can pays what he owes.
“Although the taxpayer has substantial assets, those assets are restricted and primarily illiquid,” the petition said, according to the legal website Law360. “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.”
It is unclear how much the paid pugilist owes the IRS, but the IRS is like, “Dude, you own some $15 million in cars and made $200 million during your May 2, 2015, fight with Manny Pacquiao, and you can’t pay us?” Mayweather is expected to clear nine figures after he beats the daylights out of this slow Irish man who does a really good Mayweather impression.
And, get this, Mayweather is also asking for a reduction in the penalty he received for not paying all of his taxes in 2015.
“According to the IRS website, the penalty is around 0.5 percent the amount of the owed taxes each month. The involved taxes are currently 15 months overdue, leaving Mayweather with around 7.5 percent in penalty charges on top of what he already owes,” the Daily News notes.
Basically, Mayweather has taken this easy fight so that he can pay his taxes and won’t have to sell any of his toys. Now it all makes sense.