Floyd Maywewther Garage...

[ASBSECU E93]

Did anyone else see the SC segment on Mayweather's house....his garage and car stable are AMAZING!!

I mean SERIOUSLY! And he owns a G7...unreal. I shouldn't be surprised...I read somewhere that all of his career earnings (aside from his earnings spent on fixed assets) in the bank are in cash...yep, 100% liquid.

[Douche]

I have absolutely no clue about what you just said.

But, kudos, I guess? Attaboy

[g_petko]

Something like $20 million if I remember correctly. When you're the 'half billion dollar athlete' that's a drop in the ocean.

He has good logic when choosing cars - they will all appreciate in value in the comming years

[NickyC]

Good for him, but I hope he realizes that as a pro athelete, when he retires that money stops HARD. Ask Iverson, Tyson, Walker, on and on about how fast those millions can disappear. Hell, what is it, like 78% of pro athletes are broke four years out of the game (I can't remember exactly, I know there's some play in that stat).

To keep up that lifestyle, you need to keep making the same income. He will need to be smart and adjust accordingly once he's too old to fight.

[Mr Tonka]

Originally Posted by NickyC

Good for him, but I hope he realizes that as a pro athelete, when he retires that money stops HARD. Ask Iverson, Tyson, Walker, on and on about how fast those millions can disappear. Hell, what is it, like 78% of pro athletes are broke four years out of the game (I can't remember exactly, I know there's some play in that stat).

To keep up that lifestyle, you need to keep making the same income. He will need to be smart and adjust accordingly once he's too old to fight.

That's because something like 78% of pro athletes are making the league minimums and trying to ball like the stars of the team. There are very few athletes making millions per year for a string of years that are broke 4 years after retiring. And most athletes who make that kind of scratch throughout their career have endorsement deals of some type even after they retire. At most of the endorsement deals worth millions, no, but probably enough to pay the bills.

[Douche]

Originally Posted by Mr Tonka

That's because something like 78% of pro athletes are making the league minimums and trying to ball like the stars of the team.

You refute his logic disregarding the names he put on a list. Why?

[g_petko]

Man, A.I went through some shit. Lucky for him he has some dollars waiting for him when he's in the 30's. 30-for-30 had a good ep on broke athletes.

[NickyC]

Originally Posted by Mr Tonka

There are very few athletes making millions per year for a string of years that are broke 4 years after retiring.

I don't believe that's true. Look at just some of the names I posted above, Iverson, Tyson, Walker, the list goes on and on. Look at Scottie Pippen, he was nearly broke several years ago. Who would have thought that? How about Tim Duncan, he lost close to 20 million dollars recently due to his investment advisor. Christian Lattener? Curt Schilling? Dennis Rodman? Evander Holyfield? Spreewell? Terrell Owens?

I could go on and on and on and on. These are all big names.

[ASBSECU E93]

Originally Posted by NickyC

Good for him, but I hope he realizes that as a pro athelete, when he retires that money stops HARD. Ask Iverson, Tyson, Walker, on and on about how fast those millions can disappear. Hell, what is it, like 78% of pro athletes are broke four years out of the game (I can't remember exactly, I know there's some play in that stat).

To keep up that lifestyle, you need to keep making the same income. He will need to be smart and adjust accordingly once he's too old to fight.

It is reported he has over $125mm in the bank, all in cash...he paid cash for all his fixed assets and owns them free and clear. I would hope he can manage on that amount...

[ASBSECU E93]

Originally Posted by NickyC

I don't believe that's true. Look at just some of the names I posted above, Iverson, Tyson, Walker, the list goes on and on. Look at Scottie Pippen, he was nearly broke several years ago. Who would have thought that? How about Tim Duncan, he lost close to 20 million dollars recently due to his investment advisor. Christian Lattener? Curt Schilling? Dennis Rodman? Evander Holyfield? Spreewell? Terrell Owens?

I could go on and on and on and on. These are all big names.

Agree that many former pro athletes are hard hit when the contract stops. Some of these on this list made very poor investment choices (Laettner and Schilling are just 2 that come to mind), many others simply never learned to budget to live a normal lifestyle. Tyson lost what was left of his fortune when he went to Prison.

[ASBSECU E93]

Originally Posted by Douche

I have absolutely no clue about what you just said.

But, kudos, I guess? Attaboy

Not a sports fan I see...

[Douche]

Originally Posted by ASBSECU E93

Not a sports fan I see...

Lol thank you guys for letting me know he's a boxer lol

By the way, out of curiosity: what else can you put in a bank if not money? I don't get the surprise with the guy having "money" in the bank

[Mr Tonka]

Originally Posted by NickyC

I don't believe that's true. Look at just some of the names I posted above, Iverson, Tyson, Walker, the list goes on and on. Look at Scottie Pippen, he was nearly broke several years ago. Who would have thought that? How about Tim Duncan, he lost close to 20 million dollars recently due to his investment advisor. Christian Lattener? Curt Schilling? Dennis Rodman? Evander Holyfield? Spreewell? Terrell Owens?

I could go on and on and on and on. These are all big names.

Big names for reasons other than their play on the field too. Most of those you name have some off the field exploits to deal with. Those off the field exploits also make any endorsement deals disappear.

There are few pro athletes who made millions per year for a string of years, who didn't have obvious character issues off their field of play, that are broke 4 years after they retire.

But then you're just talking about big names. The stats you posted (78% are broke after... ) coincides with the fact that 78% of players are making at or close to league minimum. And the majority of pro athletes don't have long storied careers like "the big names".

[ASBSECU E93]

Originally Posted by Douche

Lol thank you guys for letting me know he's a boxer lol

By the way, out of curiosity: what else can you put in a bank if not money? I don't get the surprise with the guy having "money" in the bank

It's not the surprise he has so much money in the bank (approximately $125mm)...but the fact he keeps it all in cash and in one bank.

[g_petko]

he ain't stupid that's why. he won't be going broke any century

[JasonCSU]

Originally Posted by g_petko

he ain't stupid that's why. he won't be going broke any century

If all that cash in one bank account is his entire net worth, then it is rather stupid. All his eggs are in one basket which is pretty risky. Diversification is key.

[ASBSECU E93]

Originally Posted by JasonCSU

If all that cash in one bank account is his entire net worth, then it is rather stupid. All his eggs are in one basket which is pretty risky. Diversification is key.

This - it's not that he holds his net worth in all cash, but that he has it all in one bank...he could buy several credit tenant CRE investments and make serious bank!

[Tsujen]

Originally Posted by JasonCSU

If all that cash in one bank account is his entire net worth, then it is rather stupid. All his eggs are in one basket which is pretty risky. Diversification is key.

He's a smart guy and his net worth is over 250 million, try going broke with that kind of money, it would be hard.

I don't envy his car collection though, no reason to have multiple Bugattis, plus he doesn't even drive them. I suppose you could call the cars art since they're all beautiful machines but hey when you get 50 million to fight someone you can do that.

[Xiaoxi]

http://jalopnik.com/open-letter-to-f...-su-1699698985

I agree wholeheartedly.

[e92_boost]

Floyd is actually smarter than a lot of the other athletes I was reading an article that he is investing money for down the line use.