The IRS has informed Floyd Mayweather that it plans to notify the Department of State about a possible passport revocation tied to an unresolved seriously delinquent tax debt. The development creates fresh uncertainty around Mayweather’s exhibition plans, including a proposed event with Mike Tyson and the long-discussed rematch talks with Manny Pacquiao.
According to the documents reviewed, Mayweather owes more than $7.25 million in tax liens and levies. The passport issue could also make travel-related fight plans harder to complete, especially if an event is staged outside the U.S.
IRS action raises new pressure on Mayweather
The IRS told Mayweather of its intention in late March, almost a month before he publicly announced the exhibition with a Greek kickboxer on April 23. The tax agency said the planned passport action is connected to a seriously delinquent tax debt that remains unresolved.
Under the rules referenced in the report, Mayweather has several ways to prevent passport revocation. He can pay the debt in full, reach an installment agreement or settlement with the Department of Justice, show that the debt is not collectible because of hardship or identity theft, or file for bankruptcy.
Fight plans face added uncertainty
The passport issue lands at a sensitive time for Mayweather’s boxing business. Negotiations have also been active around a potential Sept. 19 rematch with Pacquiao at The Sphere in Las Vegas, although the event has not been finalized.
Netflix first announced that matchup on Feb. 23 as a professional fight that would count on the records of both men. Mayweather later said on March 28 that it was an exhibition and that the venue was still undecided, but documents reviewed by The Ring reportedly describe it as a professional fight at The Sphere.
Pacquiao has also pushed back against the idea of another exhibition. On the April 13 episode of “Inside The Ring,” he said, “I wouldn’t fight an exhibition. It’s either a real fight or nothing.”
Tyson exhibition also complicated
Mayweather’s planned exhibition with Mike Tyson remains unresolved as well. Mayweather announced that event on Sept. 4, but no date or location was revealed, and the original promoter CSI Sports was contracted to stage the event by April 30, according to multiple sources.
Sources said the Tyson camp had discussed the Democratic Republic of Congo as a leading location option, and an extension to May 30 was agreed to keep the event alive. Even so, the passport issue could create problems if the event is moved outside the U.S.
Mark Taffett, head of CSI Global Live Events, did not respond to a text message seeking comment on the Tyson exhibition’s status. Attempts to reach Mayweather or an official representative also were unsuccessful, leaving the future of both exhibition plans under pressure as the tax matter moves closer to becoming a travel issue.