Floyd not only money man
LAS VEGAS — There are plenty of similarities when comparing Floyd Mayweather and Conor McGregor. Both like to drive flashy cars, buy expensive clothes, talk trash and flaunt their wealth.
There are differences, too. One is American. One is Irish. One is black. One is white. One was born when Jimmy Carter was president. The other was born the year Mike Tyson destroyed Michael Spinks in 91 seconds.
Their similarities and differences have all worked in marketing themselves to the point where they can meet in what should be the richest fight in boxing history Saturday night at T-Mobile Arena. But there remains one big difference that has gotten McGregor’s attention: Mayweather is his own boss.
McGregor, the UFC’s biggest star, could make as much as $100 million on Saturday’s pay-perview bout, set to be televised in 150 countries. Mayweather, the retired pound-for-pound king of boxing, stands to pocket $200 million, serving as the fight’s promoter. While McGregor is under contract to the UFC, which figures to collect about $25 million for its rights, Mayweather is his own enterprise and has been since spending $750,000 in 2006 to buy out his contract with Top Rank.
Since then he has earned a percentage of ticket sales, concessions, memorabilia, and broadcast rights, giving him a bigger piece of the financial pie than any other fighter in combat history. After making $8 million in his last fight under Top Rank, Mayweather earned $25 million fighting Oscar De La Hoya in 2007. Later he signed a six-fight $250 million deal with Showtime that ended in September 2016. If Mayweather can duplicate or surpass the estimated $200 million he will make fighting McGregor, it will give him career earnings close to $1 billion, most of it coming after his split with Top Rank.
“It’s the biggest move in the history of sports and entertainment for him to leave Top Rank,” Leonard Ellerbe, the CEO of Mayweather Promotions, said here on Tuesday, adding, “Floyd has built his own brand. Floyd’s a hustler. He’s figured it out.”
MMA fighters have performed for relatively low pay, but McGregor has made himself an exception. He earned anywhere from $10-$15 million for his rematch with Nate Diaz at UFC 202 and a similar amount for winning the lightweight title over Eddie Alvarez at UFC 205 at Madison Square Garden. But that sounds like chump change compared to the nine figures he could make Saturday night.
It was easier for Mayweather to become his own boss than it will be for McGregor. Boxing is more of a wide-open enterprise with several promoters showcasing top fighters. Mayweather was big enough and smart enough to become his own brand.
The UFC dominates MMA, but McGregor might be big enough to garner a larger partnership role. McGregor reportedly signed a new contract with the UFC after beating Jose Aldo at UFC 194 in December 2015. It’s worth about $14 million per fight. McGregor doesn’t appear to be ready to become a free agent anytime soon, but it could be hard to settle for $14 million after making $100 million. He formed McGregor Sports and Entertainment this year and figures to have more leverage within the UFC now that light heavyweight Jon Jones has tested positive for a banned substance again following UFC 214 and faces a possible two-year suspension.
“I represent the great promotion that is the UFC,” McGregor said Tuesday. “But I’m my own man in there at the end of the day. I’m a co-promoter of this event, so we’re in this together.”
Mayweather and McGregor made their grand arrivals Tuesday, selling a fight that could earn 5 million pay-per-view buys and be seen by nearly 50 million people.
At times, Mayweather has seemed miffed by McGregor’s quick rise to riches.
“He stole my blueprint and ran with it,” Mayweather has said.
But Ellerbe gives the Irishman plenty of credit for making himself a star.
“These boxers mocking Conor McGregor, you better figure out what he’s been doing and get like him,” Ellerbe said. “Because at the end of the day, he’s going to make more money than any of the other boxers combined for this one fight.”
Money Mayweather meet Money McGregor.