If you were hoping to see Floyd Mayweather Jr. square off in an exhibition bout with fellow boxing legend Mike Tyson, your hope is about to take another hit.
It appears Mayweather has an issue with the IRS that could completely thwart a possible bout with Tyson, and cancel his scheduled bout with Mike Zambidis on June 27.
According to Mike Coppinger of Ring Magazine, Mayweather owes the IRS around $7.25 million in delinquent tax debt and the government agency intends to revoke his passport.
“Floyd Mayweather’s planned exhibitions vs. Mike Zambidis and Mike Tyson are in jeopardy after the IRS notified him of its intention to have his U.S. passport revoked due to a seriously delinquent tax debt upward of $7.25 million, according to documents reviewed by [Ring Magazine],” Coppinger reported.
This is a major issue for both bouts because Mayweather is slated to fight Zambidis in Athens, Greece, and the exhibition with Tyson was supposed to take place in the Democratic Republic of the Congo.
Mayweather has multiple ways to prevent getting his passport revoked by the IRS, including paying the debt in full or working out an agreement to pay it in installments.
“Among the ways Mayweather can prevent the passport revocation, he can either pay the debt in full; reach an installment agreement or settle with the Department of Justice; establish his tax debt isn’t collectible because of financial hardship or the result of being a victim of identity theft; file for bankruptcy,” Coppinger wrote.
Does Floyd Mayweather have money issues?
This seems like a crazy question to ask given the fact that it’s estimated Mayweather made over $1.1 billion during his boxing career.
But a report from Business Insider suggested Mayweather is in financial trouble despite his robust career earnings.
The report revealed Mayweather has had multiple properties foreclosed on the past few years.
This tax debt, which isn’t the first he has owed to the IRS over the years, and his coming out of retirement to fight, further points to possible financial issues for the legendary boxer.
What happened to Mike Tyson vs. Mayweather?
Mike Tyson takes a break from signing autographs to enjoy the Wellington Green Mall cuisine January 25, 2025 in Wellington.
The Floyd Mayweather versus Mike Tyson bout was initially slated for April 25, but that never came to fruition and it remains to be seen when the two boxing legends will square off, if ever.
The multimedia company Mayweather has partnered with, CSI Sports, still has a fight poster featuring Mayweather and Tyson on its website, but it says, “date coming soon.”
Coppinger adds in his aforementioned report that an extension to hold the event until May 30 was agreed to, but there are no details other than that.
Does this impact Mayweather vs. Manny Pacquiao?
May 2, 2015; Las Vegas, NV, USA; Floyd Mayweather (right) talks with Manny Pacquiao as celebrates after his welterweight championship bout at MGM Grand Garden Arena. Mandatory Credit: Mark J. Rebilas-Imagn Images
Along with a possible Tyson fight, Mayweather is scheduled to fight Manny Pacquiao on Sept. 19.
This passport issue won’t impact that bout, though, as it would take place in the United States.
While Mayweather versus Pacquiao was initially expected to be in The Sphere in Las Vegas, it is now expected to shift to either the MGM Grand Garden Arena or T-Mobile Arena, Coppinger reported.
That isn’t the only uncertainty with the fight, though.
While Mayweather has previously said the fight against Pacquiao would be an exhibition, his opponent has pushed back on that, with Pacquiao saying he, “Wouldn’t fight an exhibition.”
Coppinger adds that talks between Mayweather and Pacquiao are ongoing and the two sides are now attempting to finalize the bout as a professional fight.