Floyd Mayweather ‘owes taxes from 2015 and has asked for extension until after Conor McGregor fight’
American boxing legend is said to have filed a petition to the IRS asking for a short-term investment plan
FLOYD MAYWEATHER owes taxes from 2015 and has asked for an extension until after his fight with Conor McGregor, according to reports.
Law360 claims the American boxing legend has filed a petition to the IRS asking for a short-term instalment plan.
Mayweather, 40, who Forbes estimate is worth £264MILLION, has reportedly claimed his money is not accessible and cannot be converted into cash.
The year he is said to owe money from is the same year he reportedly earned £170m for beating Manny Pacquiao.
According to the Law360 report, Mayweather wrote: "Although the taxpayer has substantial assets, those assets are restricted and primarily illiquid.
“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."
Mayweather is set to earn an astronomical £78M for taking on UFC superstar Conor McGregor on August 26, with the blockbuster bout billed the first billion dollar fight.
But, according to the report, the US government believes Mayweather does not need an extension as he has money in other accounts and property.
The Law360 report said: "The agency said that Mayweather had various options available - including by selling property, withdrawing cash from other accounts or taking out a loan."
Mayweather - suitably nicknamed Money - was filmed wheeling out a trolley full of cash to open a strip club earlier this year, and also claims an NBA team is on his shopping list.
The former world champion, who retired with a 49-0 record, fills his social media accounts with pictures and videos of himself surrounded by money.