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Floyd Mayweather is one of the wealthiest athletes of all time, earning more than $1 billion during his boxing career.
The interesting part?
It all started with a $750,000 bet on himself.
Time for a thread
The interesting part?
It all started with a $750,000 bet on himself.
Time for a thread
1) Let's start in 2006...
Ten years into his professional career, Floyd Mayweather was already the best pound-for-pound boxer in the world — making $5M+ per fight.
The only problem?
He wanted more.
Ten years into his professional career, Floyd Mayweather was already the best pound-for-pound boxer in the world — making $5M+ per fight.
The only problem?
He wanted more.
2) Floyd Mayweather was signed to Top Rank Boxing, a promotional company run by Bob Arum.
In exchange for setting up fights, negotiating contracts, handling ticket sales, etc., Bob Arum received ~25% of the purse.
In return, Mayweather was given a large guaranteed fee up front.
In exchange for setting up fights, negotiating contracts, handling ticket sales, etc., Bob Arum received ~25% of the purse.
In return, Mayweather was given a large guaranteed fee up front.
3) Everything was great between Floyd Mayweather and Top Rank Boxing until 2006.
Here's what happened:
Mayweather turned down $8M to fight Antonio Margarito—the largest purse of his career—saying he deserved $20M to fight Oscar De La Hoya instead.
Bob Arum?
He wasn't happy...
Here's what happened:
Mayweather turned down $8M to fight Antonio Margarito—the largest purse of his career—saying he deserved $20M to fight Oscar De La Hoya instead.
Bob Arum?
He wasn't happy...
4) Here's what Bob Arum said about the $20M request:
"He wants $20M for the De La Hoya fight? It's not there. Sometimes, my man, you gotta know when to hold 'em and when to fold 'em"
Mayweather's response?
He bet on himself, paying a $750,000 exit fee to leave Top Rank Boxing.
"He wants $20M for the De La Hoya fight? It's not there. Sometimes, my man, you gotta know when to hold 'em and when to fold 'em"
Mayweather's response?
He bet on himself, paying a $750,000 exit fee to leave Top Rank Boxing.
5) After leaving Top Rank Boxing, Floyd Mayweather established a financial structure unlike anyone else in the sport.
By setting up & promoting his own fights, Mayweather earned a percentage of every ticket purchased and hot dog sold — not to mention pay-per-view fees.
By setting up & promoting his own fights, Mayweather earned a percentage of every ticket purchased and hot dog sold — not to mention pay-per-view fees.
6) By eliminating the middle man, Floyd Mayweather risked guaranteed up-front cash for back-end profit.
The result?
In 2007, just one year after leaving Top Rank Boxing, Floyd Mayweather made $25M for fighting Oscar De La Hoya.
This time, Bob Arum wasn't laughing.
The result?
In 2007, just one year after leaving Top Rank Boxing, Floyd Mayweather made $25M for fighting Oscar De La Hoya.
This time, Bob Arum wasn't laughing.
7) Since paying $750k to leave Top Rank Boxing in 2006, Floyd Mayweather has become the most successful boxer in history.
— 50-0 record
— Made $275M off Mcgregor fight
— Surpassed $1B in career earnings
Even crazier?
Mayweather is only 1 of 5 athletes to earn $1B while active.
— 50-0 record
— Made $275M off Mcgregor fight
— Surpassed $1B in career earnings
Even crazier?
Mayweather is only 1 of 5 athletes to earn $1B while active.
8) Despite earning $1B in his career, Floyd Mayweather set himself up to continue cashing in during retirement.
Mayweather Promotions currently represents 20+ boxers, including WBA Champion Gervonta Davis.
Put simply, Mayweather went from working for the man to being the man.
Mayweather Promotions currently represents 20+ boxers, including WBA Champion Gervonta Davis.
Put simply, Mayweather went from working for the man to being the man.
9) Regardless of your feelings about Floyd Mayweather's public persona, he is undoubtedly an unbelievable businessman.
Remember, where some people see risk, others see opportunity.
Bet on yourself; you won't regret it.
Remember, where some people see risk, others see opportunity.
Bet on yourself; you won't regret it.
10) If you enjoyed this thread, you should:
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2. Subscribe to my free daily newsletter, where I give a detailed analysis on topics involving the money and business behind sports. http://readhuddleup.com
1. Follow me; I tweet cool stories like this every day.
2. Subscribe to my free daily newsletter, where I give a detailed analysis on topics involving the money and business behind sports. http://readhuddleup.com
