Terrible financial advice from Mayweather's on dad...more self inflicted pain...

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The man on the left says he loves money. Is the man on the right his financial adviser? It would explain a lot of things.

Let me say that Team Mayweather not only loves money, but they value it as well. As proven by this:

"LAS VEGAS -- Boxer Floyd Mayweather Jr. is being sued for unpaid rent and breach of contract after his promotions company was evicted from a Las Vegas office.
Mayweather lawyer Jeff Morse on Thursday downplayed the July 27 eviction of Mayweather Promotions LLC from what he said was a substandard building."


Next lets read a quote from Floyd Mayweather Sr:


"Make a million dollars in one year and see what Uncle Sam gonna do to you. So that's what I'm talking about. Make $100 million in one year and see what Uncle Sam gonna do. It would be like he aint never fought Shane. I'm telling you the real deal of how it is. That is the only reason they didn't make the fight. The fight's gonna still happen. I'm pretty sure about that. It may not happen right away this year, but it's going to happen. I'm telling you the reason why."

WTF?!?!?! Team Mayweather didn't make the fight, because they didn't want to pay more in taxes or invite more scrutiny from the IRS for earning more than $100 million dollars in one year. I haven't read something so IDIOTIC. Floyd Jr hire me as your financial adviser. Even though I'm a Pacquiao fan, I'll help protect your dollars and save/earn more money whenever you can.

Let's take the proposed fight with Pacquiao, making over $100 million dollars doesn't invite more scrutiny. Anybody making over $373,000 per year will invite a closer look by the IRS, but in this case the increased surveillance is because of passed violations. Not because of some imaginary dollar figure...

Floyd Jr you should have taken the fight this year. It would have saved you $2 million dollars. Obama isn't going to renew the Bush Tax Cuts, because of this Floyd Jr's tax rate would go from 35% to 39.6%. If Mayweather was guaranteed to make $50 million for the fight, it means that he'd have to pay $2 million dollars more in taxes fighting in 2011, instead of 2010. Obama is also pushing to put a percentage cap on how much you can claim in itemized deductions, potentially increasing Floyd Jr's tax liability.

Finally, depending on where the fighter's get their cut at the top, middle or bottom, Mayweather at the very least would have to hope that the fight would generate $10 million dollars more in PPV's sales in May as opposed to November. Where they'd come up with that assumption is beyond me. Any good business man makes his decisions on what he knows and NOT on a HOPE, when it comes to this amount of money. All signs are pointing to the facts that 2011 will be WORSE economically compared to 2010. Business's are taking what profits they can make now because on top of the Bush Tax Cuts going away, they know that the ObamaCare taxes are going to hit in 2011 as well.

Floyd hire me... I at the very least would have saved you $2 million dollars... :hi:

 

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TommyV, based on what??? A financial adviser KNOWS the taxes will go up next year. To make up for the $2 million dollar hit they'd have to sell an at the very least an extra $10 million on an already ESTIMATED record breaking PPV fight, what matrix or criteria are you basing this on??? Hope... Look at what "hope and change" has gotten us two years into an Obama economy. Plus, financial advisers are forecasting 2011 as being a terrible year. It doesn't make any business sense to wait. :deal

 

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I type in Arial Black... so my eyesight is worse than yours. It's easy to read, but in your case it doesn't help you comprehend either. Because please could you explain where I'm wrong in a "business sense". :hi:

 

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u13, two things. First, the font didn't prevent you from being able to understanding that last comment. Secondly, it's a nice convenient way of avoiding the argument. :deal