RJJ owes $3.5 million to IRS, no wonder he's still fighting.

[Spicoli]

It makes sense why he is still fighting like Holyfield it is the only way to pay the big bills at the expense to their great legacy. Pride does not pay the bills.

As much as I like Holyfield I think Jones is smarter and ONLY in it for the money, unlike Holyfield who seems boarderline dellusional and actually believes he's still what he was.

[JazMerkin]

For some reason I really don't think FLoyd and Manny will have problems with money in life, or at least I'm hoping it won't be. Floyd had tax problems in the past, I don't think he's dumb enough to repeat them or let's hope so. Manny lives in the Phillipines where the cost of living is considerably lower than 1st world developed nations, not to mention he's got endorsements there (San Miguel beer, Nike) and is a congressman.

I might be wrong, but I hope all goes well for both since they have entertained millions of people through their ring exploits.

I hope so too, but I suspect Floyd will run himself into serious difficulties because he seems to just forget to pay his taxes every year. He does seem to have toned down his lifestyle a bit, selling a lot of his cars etc, but like Manny, I see that entourage coming back to haunt him. I really hope they can both be alright, they've made so much money that it shouldn't be an issue, but sadly it still could be.

I read some time ago that Ali's Name (Rights) was generating ~$40 million a year and he sold it for $80 Million. I think it's owned by Sony now. Roy & Floyd's names will probably be worth something in the future but certainly no where near what Ali's name is worth. Floyd's book deal, "The Real Floyd Mayweather" or "The Floyd behind the persona" will generate a tremendous amount of intrigue. So even if Floyd blows everything, he still has some future earnings from rights to bail him out. Pacquiao's name is already worth millions and he has dozens of enforcements. He can probably maintain being generous to a fault and not have to ever worry about money. If he gets to be like Michael Jackson, then he'll have some problems. I have no clue about Roy.

Yeah, I'd agree with that actually. I think one problem Roy has is that he never crossed over into the mainstream in the way that Manny or Floyd have. Both those guys play a role & have their own set of fans who appreciate. Roy was always overshadowed by Tyson, Chavez & then Oscar in terms of being the face of boxing. Not to mention that if PBF & Pac fight, regardless of the result it will have a beneficial effect on their future earnings. I might be the first poster ever to admit someone else has talked me round to their viewpoint.

[THE THIRD MAN]

Roy Jones Jr. Now Battered By The IRS, Owes $3.5 Million - Boxing News

SMH.

Do these guys hire financial advisers? Does the USA have a PAYG system in place? How does Jones jr not know this? In any contract negotiation surely he would have it checked out by a financial adviser and know in advance what his take home pay will be after TAX? I can only assume they have tried to cheat the system and have been caught out doing it, i have no sympathy if that is the case. Organising finances is easy if you prepare yourself, Jones jr has either been ill advised or is just plain ignorant in these matters.

[fan johnny]

Roy Jones Jr. Now Battered By The IRS, Owes $3.5 Million - Boxing News

SMH.

Do these guys hire financial advisers? Does the USA have a PAYG system in place? How does Jones jr not know this? In any contract negotiation surely he would have it checked out by a financial adviser and know in advance what his take home pay will be after TAX? I can only assume they have tried to cheat the system and have been caught out doing it, i have no sympathy if that is the case. Organising finances is easy if you prepare yourself, Jones jr has either been ill advised or is just plain ignorant in these matters.

I seriously doubt that Floyd has one. I would venture to say the Roy Jr is of the same mind set as Floyd. On the other side of this, I read that "Boom Boom" did and when he retired from boxing at the age of 24, He had nearly all his life time purse of $12 Million in earnings. I don't think they cheat, People like that just ignore it and hope it goes away. Sounds stupid because it is, but really many people are like that.

[J_Undisputed]

For professional fighters like roy and floyd, starting your own record label or rapping/singing career should be like buying a gun in the U.S. there should be a damn waiting period or something during which they have to watch like videos about the dangers of mismanaging your money or something. I can see boxing promotional companies, the occasion restaurant, or local establishments that are in line with what they enthusiastic about... or even boxing equipment companies or fight academies. But looking at some of the dumb things that some of these guys wanted to do with their money.... and then "forget" to pay taxes....it makes you go what?!?!?! Stick to what you know.

Zab judah wanted to make rims... WTF?!?!?

[No Contest]

Shit, thats alot of back taxes....he should have done like the politicians do, put all his money in swiss bank accounts or costa rica or some shit. Then just declare bankruptcy.

[fan johnny]

Shit, thats alot of back taxes....he should have done like the politicians do, put all his money in swiss bank accounts or costa rica or some shit. Then just declare bankruptcy.

It don't work like that... They used to have a offshore companies that earned the money for them that way money is not declared as income for the individuals. But now a days the IRS goes after all that stuff like that. What they do now is set up a record label or other start up company and write off all the losses. But it looks like Floyd & Jones forgot to hire an accountant.

[rjj tszyu]

Roy Jones is turning into one of those stories like Joe Louis. Absolute great boxer who had to fight on way past his best and still ended up skint due to taxes owed. Gotta say that the American boxers do seem to get hit hard by governments!

[Master]

Why does the tax man have to chase legends like Louis and Jones?

[generalbulldog]

Why does the tax man have to chase legends like Louis and Jones?

Just because you're a boxing legend doesn't mean you're exempt to pay taxes on what you earn. Everyone does in any modernized society.

[Gandalf]

Why does the tax man have to chase legends like Louis and Jones?

Just because you're a boxing legend doesn't mean you're exempt to pay taxes on what you earn. Everyone does in any modernized society.

True, but these days the rich are having a field day when it comes to how much tax they pay. It's a shame that fighters like these aren't able to capitalise on the wonderful opportunities being granted by a corrupt political system.

[Hulk]

Why does the tax man have to chase legends like Louis and Jones?

Just because you're a boxing legend doesn't mean you're exempt to pay taxes on what you earn. Everyone does in any modernized society.

Its not fair to lump Jones in with Louis. We don't know the circumstances of Jones's IRS tax problems.

But we do know that Louis got SCREWED ROYALLY. Especially after he raised so much funds in boxing exhibitions for the Army. He was a great patriot and a great man.