Floyd Mayweather dragged his feet for a while during discussions of a potential fight with Conor McGregor and we may now know the reason why he finally agreed to do it.
The undefeated boxer filed a petition to the IRS on July 5 asking for a reprieve from unpaid taxes from 2015 until after his fight with McGregor on August 26, according to ESPN.
(Credit: Getty Images/Al Bello)
“Although the taxpayer has substantial assets, those assets are restricted and primarily illiquid,” the petition stated. “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.”
The petition also asked that the government reduce Mayweather’s penalty on his unpaid taxes. The 2015 taxes in question are currently 15 months past due, calling for a 7.5 percent charge on top of what is owed, ESPN reports per the IRS website. (RELATED: Manny Pacquiao Weighs In On McGregor’s Odds Against His Longtime Rival)
Floyd “Money” Mayweather, as he often calls himself, is nothing close to modest with his money and frequently flaunts it on social media. During his career the boxer has earned approximately $700 million thanks to outrageous paychecks like the $100 million check he received in 2015 after fighting Manny Pacquiao.
It is unclear how much the 40-year-old boxer owes to the IRS in taxes, but surely his petition is something of a cry to maintain his lavish lifestyle until he gets another nine-figure payday from the McGregor fight.
We’ll just have to wait and see if the IRS let’s “Money May” pay another day.