19th of June 2012 Author: Glo Wood
What's in a name? For Floyd "Money" Mayweather, it's all in the name as Forbes announces him as the world's highest paid athlete of the year.
Mayweather boxed his way to $85 million claiming the top spot over Tiger Woods. Woods has been considered the highest paid athlete since 2001.
In the last year, Mayweather pulled in $85 million after a boxing match which led to the knock out Victor Ortiz last September and entering the ring with Miguel Cotto on May 5th. For little more than one hour in the boxing ring, he brought in a cool $40 million followed by $45 million for each match respectively.
Mayweather has opted to promote himself which eliminates many of the promotional expenses. Mayweather Promotions, his company, takes revenue from tickets, pay-per-view and sponsorships and absorbs the costs including the purse for his opponent.
Mayweather's wealth has not come from endorsements unlike other athletes such as Woods, who according to Forbes, earned $55 million through endorsements.
Mayweather has a knack for attracting attention and this draws people to purchase his pay-per-view fights. Mayweather was involved in four major non-heavyweight PPV boxing events and his fight with Cotto produced $94 million in PPV buys.
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