Floyd Mayweather Turned Down $12.5M, Builds Empire Instead
15 years ago, 21-year old Floyd Mayweather was already being termed by many as the “best boxer in the world.” With an Olympic medal around his neck and a professional fight record of 24-0, Mayweather showed great promise to live up to that title.
Recognizing Mayweather’s potential both as a boxer and revenue generator, HBO offered him a six-fight, $12.5 million contract extension, an eye-whopping amount for the young boxer that many critics thought would be foolish to turn down. So what happened? Mayweather had bigger plans for himself and his personal brand.
Mayweather was willing to say “no” to a great opportunity. His promoter at the time, Top Rank, wanted to mold Mayweather into becoming the next De La Hoya or Sugar Ray Leonard and take the HBO deal. Mayweather saw it differently, recognizing that he was destined to rise far above boxers in his midst and that his potential value far exceeded HBO’s $12.5 million offer. He soon parted ways with Top Rank and signed on with a promoter & advisory team that shared his “bigger, better” vision of himself and executed upon his goal to build upon his dominance in the world of boxing. The results speak for themselves: 15 years later, Mayweather is undefeated (47-0) as a professional, a five-division world champion, the world’s highest-paid athlete, and is predicted to make a record-breaking $200 million on his upcoming bout with Pacquiao.
Surround yourself with the right advisory team. “There’s a lot of smart businessmen around me. You can’t do it by yourself,” Mayweather says. Having a trusted team of advisors you can turn to can make the difference between spinning your wheels and making decisions that allow you — and your business — to grow and thrive.
At Group 11 Advisors, we understand the challenges facing both professional athletes and entrepreneurs when it comes to generating and protecting income earned in the ring, on the field or in the boardroom. Whether you’re looking to improve your tax position, build your brand through a business transaction, or wish to guarantee a legacy for your family, Talley & Company is uniquely equipped to provide the technical and managerial expertise to help you plan, negotiate, structure and execute upon your goals.