Recently, Floyd Mayweather, an unbeaten former champion in five boxing divisions, came under scrutiny when staff from Mayweather Gym in Los Angeles voiced their displeasure about unpaid wages at Mayweather Gym on Highland Avenue and initiated a protest outside it; subsequent developments exonerated Mayweather of any wrongdoing or any allegations of misconduct by them.
Reports emerged detailing that employees of Mayweather’s Money Team company had not received wages for several weeks, leading them to stage a protest and display signs blaming management of financial irresponsibility and likening the situation to modern-day slavery. Signs displayed included ones proclaiming ‘The $ Team has no $, inferring financial issues within his operations – one employee also shared with media his or her experience; she stressed how fear prevented speaking up against injustices at work.
The protesters accused the Mayweather Boxing and Fitness group of violating California’s labor laws. However, boxing insider Rick Glaser took to social media to clarify the misunderstanding, stressing that the allegations against Mayweather were unfounded. According to Glaser, the involved gym operates as a franchise location, with Mayweather simply receiving a franchise fee, thereby not directly overseeing its financial or operational management. He labeled the misconduct reports as misleading and damaging to Mayweather’s reputation.
This incident isn’t the first instance where a gym bearing Mayweather’s name encountered operational challenges. A previous case involved another gym shutdown due to contract breaches related to unpaid rent. Despite these occurrences, Mayweather’s financial health seemed robust, evidenced by his substantial real estate investments across New York City and beyond, totaling millions in expenditures.
Mayweather’s Venture into Real Estate
Floyd Mayweather made an ambitious strategy of investing his wealth into real estate, purchasing over 60 New York buildings for $402 million and also pouring funds into 601W Companies for 18 buildings worth $10 billion combined. Money from both investments poured directly into Mayweather accounts while simultaneously selling his Miami property for $22 million while investing heavily into luxury hotel projects on Miami Beach as well as his New York real estate portfolio.
As details continue to surface, the wage payment impasse at Mayweather’s Los Angeles gym appears to be clearing up, with Rick Glaser coming forward in defense of Mayweather and dispelling any bankruptcy rumors quickly and decisively – an impressive display highlighting an often tenuous relationship between celebrity-owned franchises and operational realities.