Prize fight is more about prize than fight

The Hamilton Spectator - - SPORTS - DES BIELER

We thought we al­ready knew why Floyd May­weather was com­ing out of re­tire­ment to fight Conor McGre­gor. He had stated that he would not do so for less than $100 mil­lion US, and the Ul­ti­mate Fight­ing Cham­pi­onships su­per­star pro­vided the grabby name for just such a pay­day, while McGre­gor’s com­plete in­ex­pe­ri­ence in a box­ing-only matchup would likely help May­weather boost his record to 50-0.

But a new rea­son emerged Mon­day: May­weather needs some help in pay­ing his 2015 tax bill.

That’s ac­cord­ing to Forbes, which re­ported that the boxer filed a pe­ti­tion with U.S. Tax Court to fore­stall any ac­tion on those IRS-re­lated li­a­bil­i­ties un­til af­ter the McGre­gor fight, sched­uled for Aug. 26. The event is ex­pected to gen­er­ate hun­dreds of mil­lions in to­tal rev­enue, with May­weather earn­ing a nine-fig­ure sum, much as he did for fight­ing Manny Pac­quiao in May 2015.

“Although (May­weather) has sub­stan­tial as­sets, those as­sets are re­stricted and pri­mar­ily illiq­uid,” the pe­ti­tion, filed last week, states. “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.”

May­weather is also ask­ing for the IRS to waive cer­tain fail­ure-topay penal­ties, but the IRS’s po­si­tion is he has the abil­ity to set­tle the bill by sell­ing off a few of his as­sets. The agency has had sev­eral in­ter­ac­tions with May­weather in the past, re­port­edly fil­ing liens against him at least five times since 2001.

May­weather, who goes by the nick­name “Money” and li­censes a slo­gan, “The Money Team,” on mer­chan­dise, fre­quently flaunts his wealth on his so­cial-me­dia ac­counts. That of­ten in­cludes show­ing off huge amounts of cash, as well as ex­pen­sive cars and mas­sive wa­gers on sports events.

Mon­day also brought word that the May­weather-McGre­gor fight pay-per-view will cost $89.95, plus an ex­tra $10 to watch it in high def­i­ni­tion.

Floyd May­weather

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