Boxing News 2014: Mayweather Gets Promoter Licence in Nevada; Indicator of Forthcoming Retirement?
By Vittorio Hernandez | July 25, 2014 8:45 AM EST
Unbeaten American boxer Floyd Mayweather Jr appears to be preparing to hang his gloves and become a full-time boxing promoter like Oscar dela Hoya, based on the number of promoter licences he is acquiring.
Reuters/oah K. Murray-USA TODA
Jul 14, 2014; New York, NY, USA; Floyd Mayweather Jr. reacts during press conference at Times Square.
On Thursday, the Nevada Athletic Commission, on a 5-0 vote, approved his application for a promoter's licence in the gambling state. It is his third licence since Money May already holds a promoter's licence in Washington and New York, Review Journal quoted Leonard Ellerbe, CEO of Mayweather Promotions.
According to previous reports in media, Mayweather applied for a New York licence since he was considering the state as alternative venue for his Sept 13 rematch with Argentinean boxer Marcos Maidana, but he was reported to have withdrawn his application because it could expose him to potential tax problems with the IRS.
Surely, Mayweather does not want to be in a situation like his competitor for the pound-for-pound king title and potential opponent in May 2015, Filipino boxer Manny Pacquiao. The Philippine taxman claims the champ owes the government P2.2 billion tax arrears, but Pacquiao is contesting the claim in court.
"This was big. Nevada is home to Floyd. This is where he does his business. So to be able to promote in Nevada is huge for Mayweather Promotions. We know what it takes to be successful, from the bottom to the top. We have a great team, and we're going to continue to grow the sport in boxing," said Ellerbe, who added that Mayweather plans to acquire more licences in California, Washington DC, Illinois and Michigan.
Owning a gym, coaching upcoming boxers and/or running a boxing promotion business appears to be the career path of retiring boxers, especially those who were able to carve their names in the sport by winning numerous titles.
However, the licence excludes managing the holder's stable of fighters which would breach the federal Muhammad Ali Boxing Act. "We're going to lead by example as promoters," Ellerbe assured the commission which readily granted Mayweather's application since he easily passed the state's financial and personal capacity to run a promotion business.
Money May used to be promoted by Top Rank, which handles the fights of Pacquiao, but he had a falling out with Bob Arum, head of Top Rank. Since 2007, dela Hoya's Golden Boy Promotions handled his fights, but Mayweather recently left Golden Boy although his Sept 13 rematch with Maidana is still being handled by dela Hoya's company.
In a confirmation of his retirement plans, probably after the speculated May 2015 dream match with Pacquiao, Mayweather, now 37, told the commission, "We want to get things done the right way and continue to bring big fights to Las Vegas even when my career is over."
He added, "We can continue to do record-breaking numbers after I'm gone by doing it the right way."
His $40 million guaranteed purse for the May 3 first bout against Maidana and career earnings of $400 million are among the records Mayweather has established in boxing, but pay-per-view buys for the Maidana bout was somehow disappointing, reportedly below 1 million.
Despite his Nevada licence, Mayweather assured he would continue to work with dela Hoya, unlike Arum whom he wouldn't touch with a 10-foot pole.
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