Brand of the Day: Floyd Mayweather
Floyd Mayweather will be stripped of his World Boxing Organization 147 pound title today after failing to pay a $200,000 sanctioning fee before a 3 July deadline.
The WBO regulations required Mayweather to pay the fee in order to keep his 147 pound title belt however his failure to do so has resulted in him being stripped of the belt he won after defeating Manny Pacquiao on 2 May at the MGM Grand in Las Vegas. The current WBO interim titlist, Timothy Bradley, will now be elevated to full beltholder.
The 38 year-old, who is likely to retire after his next fight on 12 September, had planned on relinquishing his belts “within a couple of weeks after the Pacquiao fight to allow younger fighters a chance to earn a title however he has still to do so.
Here’s more about the Mayweather brand.
Floyd Mayweather tops Forbes list of highest paid athletes and highest paid celebrities for 2015 after earning around $300m.
Mayweather formed his own promotional company in 2007 titled Mayweather Promotions. The creation of the company means he promotes his own fights and retains millions of dollars more per bout than he would otherwise.
He has generated almost $1bn in PPV revenue in his career with more than 90 per cent of that total earned since he left Top Rank promotions and started promoting himself.
He paid $750,000 to get out of the contract in a move which has been described as the best financial investment in boxing history.
Mayweather has two fleets of cars with a total worth of $5.94 million. All the cars at his Miami house are white while all the cars at his Las Vegas house are black.