Floyd “Money” Mayweather needs a bit more of his nickname before he can pay the IRS.
According to an ESPN report, Mayweather is asking for reprieve on his 2015 taxes until after his August bout with Conor McGregor. His reasoning for the delayed payment is that while Mayweather is extremely rich, much of his money is tied up and illiquid.
“Although the taxpayer has substantial assets, those assets are restricted and primarily illiquid,” the petition said, according to the legal website Law360. “The taxpayer has a significant liquidity event scheduled in about 60 days from which he intends to pay the balance of the 2015 tax liability due and outstanding.”
It is not unusual for people who have amassed large amounts of wealth in their life often have their funds tied up in real estate, stock portfolios, or even things like art or cars or jewellery that all hold monetary value but can’t be used to pay the IRS. But as James Dator at SB Nation was quick to note, Mayweather’s argument is eyebrow-raising because his own social-media accounts strongly suggest that he has a lot of cash that is not tied up.
All three of those posts were made in the past three months.
It’s not known exactly how much Mayweather owes.
With the pay-per-view cost of the fight set at $US99.95, Mayweather stands to make well more than enough to pay off whatever leftover debts he may have win or lose.