While the NFL is the number one sport in America and with the NBA growing by leaps and bounds both domestically and internationally and Baseball continuing to hold a large following; one would assume that one of these sports athletes would be the highest paid athlete in the world.  If you made that assumption you would be in good company; however you would be dead wrong. The highest paid athlete or more accurately the highest earning athlete for the last several years running is a boxer. Yes a boxer and he is not a heavyweight nor is he a ferocious knockout artist like Iron Mike Tyson.

To all but boxing purist who can truly appreciate the artistry of a master craftsmen and defensive genius in the ring; he may even be considered a boring fighter since he seldom if ever wins by knock out.  Yet he makes more money each year than Lebron James, Peyton Manning, Kobe Bryant, Tom Brady and anyone in the MLB.  His name is Floyd Mayweather and he is the undefeated pound for pound best boxer in  the game today.

The question may arise how does he earn this type of money especially considering that boxing has a declining aging fan base as the upstart Mixed Martial Arts continues to siphon off boxing fans and capture the youth market. According to Forbes Mayweather earned $105,000,000  in 2013.  He is believed to have made $70,000,000 for the fight against the young Mexican star Canelo Alvarez.  He has a 6 fight $200,000,000 deal with Showtime that he is halfway through.

He holds every conceivable pay per view record; however he feels that his estimated earnings of over $400,000,000 have been severely curtailed due to racism that exist in boxing as a microcosm of the racism that exist in the general society.  It is this feeling that has led Floyd over they years to learn business from one of the great minds in the game today: Al Hayman.

Al Hayman is a Harvard Educated business man who came to boxing from promoting/managing A list artist in the music and entertainment  industry such as Whitney Houston and Eddie Murphy.  He brings to the table an in-depth understanding of the revenue streams, residuals etc. of a promotion that has heretofore been a secret that unscrupulous promoters have kept from the artist/fighters.

Al Hayman has educated/advised  Floyd Mayweather on how to negotiate royalties, percentage of the gate, concessions, merchandise and every other revenue stream that is generated from one of his pay per view events.  Floyd has gone on record saying that they would like to educate other athletes as to how to negotiate a better deal by truly understanding the underlying economics of the sports they play.   There are many out there who are hostile to both of these men  for this very reason.

 

Submitted by Christopher A. Clarke on 12/30/14. 
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Christopher A. Clarke is managing editor of Black2020.Com and can be at Christopher_Clarke@Black2020.com