Money Mayweather Might Be Shocked At How Bad The Economy Is Sept. 19
Will Floyd "Money" Mayweather be shocked at how bad the economy is, come Sept. 19?
With the current suffering American economy, more and more Americans are being extra conservative and tight with their finances.
From not vacationing to even avoiding their favorite family sit down eateries, Americans are just not spending money and have been completely shifting their lifestyles in order to save every little penny.
This new uptight lifestyle of living would definitely mean cutting back on boxing pay per views and traveling to Las Vegas to see the fights live in person.
On May 5, 2007, when the economy was still holding strong, Mayweather and Oscar fought in the highest grossing boxing match of all time, setting new records with 2.4 million PPV buys and generating $120 million.
Mayweather ended up taking home about $25 million where the last top cash cow of boxing, Oscar De La Hoya took home $58 million. It should also be noted that this fight sold out completely in just two hours.
Mayweather's next fight after that was against England's biggest boxing star, Ricky Hatton, on July 28, 2007—again when the economy was still decent. This fight did around 1.5 million PPV buys and generated about $50 million.
It should also be noted that this fight sold out in just 30 minutes. I personally logged into Ticketmaster to buy some tickets on 10 AM on the dot and the second the clock turned 10 AM the fight was sold out.
So then the economy hits a major nose dive, everyone starts to hurt—from your average Joe Schmo who stops eating at his favorite Olive Garden, to the big time ballers like P. Diddy, who stopped using his private jet because jet fuel was too expensive.
Being a current Southern California resident, I like many of the people down here tend to take a quick road trip up the 15 north to Las Vegas to get away from the day to day drama.
But one thing I noticed was that since early 2008 until now less and less people were going to Las Vegas. Again, they all want to hold onto any money that they can. This of course directly affects the sport of boxing and its ticket sales and PPV sales figures profoundly.
On Dec. 5, 2008 (the economy had started to really crumble), the night before the Dream Match: De La Hoya vs Pacquiao, I was at the MGM Grand lounging with some of boxing's top columnists.
One of the columnists told me that he felt the economy was so bad because he was previously always constantly approached by dozens of fight fans who were willing to pay him $9,000 for his ticket to Mayweather vs Hatton and another $1,000 grand just for his expired press media credential pass.
He then said that he heard ringside seats for Oscar De La Hoya vs Manny Pacquiao were not even selling for face value. $1,500 floor seats were selling on the streets for only $500 dollars because again, even the shady ticket scalpers could not even sell their tickets for face value.
Although the Dream Match it did well, with 1.25 million PPV buys and $70 million in revenue, it made significantly less than the super mega fights that took place the year before—when the economy was still more stable.
The last super mega fight, Ricky Hatton vs Manny Pacquiao, did well despite the poor economy—with about 850,000 PPV buys and $50 million revenue. But again, this was significantly less than the sport's previous super mega fights that took place when the economy was strong.
When Mayweather came back from retirement, one of the biggest claims that he boasted so proudly was how no other boxer can generate as much money as he can. He stated that he made more money from his last fight than both Pacquiao and Hatton's purse combined.
Mayweather also stated that his PPV numbers were much higher than Pacquiao's with De La Hoya and Hatton, which was obviously true, but the one major significant factor that Mayweather fails to acknowledge is again the economy.
Floyd's last two big fights were the last two super mega fights that took place before the economy went to hell.
It would be safe to say that Mayweather might be shocked to see how significantly less his upcoming fight with top pound—for—pound Mexican master boxer Juan Manuel Marquez may generate.
With only a month to go, there are several tickets left to purchase for this fight and of course you have the rumors that poor ticket sales were the initial real reason why the fight was even moved to a more profitable Mexcian holiday date instead.
There is a great deal of pressure on the only current American big name boxing star to get America noticing that boxing is still here and is as sweet as it always was.
Let's hope he can shoulder roll his way around this horrible down economy.
“It isn’t so much that hard times are coming; the change observed is mostly soft times going. ” ~Groucho Marx
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