How Floyd Mayweather quit a Top Rank Boxing firm to start his own multi-million dollar company

Abu Mubarik March 20, 2023
Floyd Mayweather. Photo Credit: GETTY IMAGES

Floyd ‘Money’ Mayweather at a point in his career was represented by Bob Arum’s Top Rank Boxing promotional company between 1996 to 2006. During that period, the boxer made total career earnings of $10 million.

In 2006, Mayweather decided to part ways with Arum and start his own boxing promotion company called ‘Mayweather Promotions.’ However, the decision to go solo was not in a vacuum. In April 2006, he was offered $8 million to fight Antonio Margarito, but the boxer made a counteroffer of $20 million to fight Oscar De La Hoya. Arum knew Mayweather was a good boxer but was quite skeptical to bet such a huge fortune on him against De La Hoya, which caused him to decline Mayweather’s offer although he kept insisting, according to Celebrity Net Worth.

While Arum remained adamant, Mayweather took what would turn out to be the biggest gamble of his life; quitting the Top Rank Boxing promotion. Aside from losing his guaranteed revenue per his contract after this bold move, he also had to settle the company $750,000.

He later made a cool $8 million fighting Carlos Baldomir, a bout that drew attention to him in his quest to fight De La Hoya. He finally got his day with Dela Hoya in 2007 and ended up earning $25 million on what became the highest revenue-producing fight in boxing history up to that point, according to Celebrity Net Worth.

Six years later, he got his own promoter’s license from the Nevada Gaming Commission and subsequently launched ‘Mayweather Promotions.’ The launch of his own boxing promotion firm meant that he was in charge of all the money for an event, including his opponent’s purse.

In 2013, he paid Saul Alvarez $10 million in addition to paying for the event space, the vendors, the food and beverages, among others. Nonetheless, he ended up pocketing $75 million. Also, when he later fought Manny Pacquiao, he paid Manny a $50 million guaranteed check to show up but made up to $250 million from this one fight alone. He then made $300 from his bout with Conor McGregor. 

Being his own boss saw the money man become one of the highest-paid athletes of the past decade. In 2019, he was rated as the highest-paid athlete by Forbes and reportedly brought in $915 million in 10 years, without any big sponsorship deal or paycheck from anyone. He also made $115 million more than any other athlete.

In 2021, Face2face Africa reported that the retired boxer is worth $450 million, and estimated his total career earnings at $1.1 billion.

Last Edited by:Annie-Flora Mills Updated: March 20, 2023


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