By Julian Mitchell
May 4, 2015 Source: Forbes
Photo Source: AS, USA
The record-breaking bout between Floyd Mayweather and Manny Pacquiao reached a pinnacle of publicity the sports world has never seen. Five years in the making, boxing's most impressive and outspoken superstar stepped into the ring for a face-off with a man millions believed would be the first to blemish Money Mayweather's dominant legacy. Grossing an astounding $400 Million in Pay-Per-View revenue, with an additional $74 million made from the live gate, the match shattered total earnings numbers for any previous high-profile fight by upward of $200 million. Cable television titans Showtime and HBO partnered for an unprecedented and exclusive deal to share the rights, with both releasing an extensive series of teasers, interviews, promotional packages, mini-docs and network specials to peak interest leading up to May 2nd. Floyd Mayweather Jr. answers reporter questions during a press conference following his welterweight... [+] Though Mayweather steered away from having too many corporate endorsements, that didn't stop brands from throwing media and marketing dollars at the event. Tecate, the title sponsor, spent a reported $5.6 million to claim the slot, with beginning bids for sponsorship placement starting at $1 million.
Winning by unanimous decision after going the 12-round distance in what appeared to be a stress-free fight for Mayweather, the monumental monetary outcome was just one hint of confirmation to the elite boxer and businessman he has become.
As a boxer, Mayweather's career is remarkable. With a 48-0 record, he's now won 6 world championships in 5 different weight divisions. His list of victories includes defeating boxing legends like Oscar De La Hoya and Sugar Shane Mosley, in addition to beating promising opponents like Victor Ortiz, Miguel Cotto and Marcos Maidana, whom he defeated twice. Floyd Mayweather topped the list of highest-paid athletes in 2014, banking $105 million from just two fights. Prior to facing Manny Pacquiao, he had a reported net worth nearing $400 million. Since his first major headline fight against Carlos Baldomir in 2006, which earned Mayweather $8 million, every fight that followed amassed him at least $20 million. Floyd Mayweather Jr., left, hits Manny Pacquiao, from the Philippines, during their welterweight... [+] The less talked about peg of Mayweather's empire is Mayweather Promotions. While Mayweather has proven savvy and surgical as a boxer, he's masterfully established himself as an even sharper and more shrewd businessman outside of the ring. After parting ways with Top Rank, in which he paid an estimated $750 thousand to buy-out of his contract, Mayweather launched his own promotion company, changed his nickname to "Money", and began his quest to conquer both sides of the boxing world.
Respected as the preeminent promotions company in the sport, Top Rank held a decorated roster of distinguished champions such as Oscar De La Hoya, and most recently Manny Pacquiao. Feeling like not enough attention was placed on his talent and potential, Mayweather was determined to prove a point. In 2002, leveraging his substantial success, De La Hoya launched Golden Boy Promotions, in partnership with fellow boxing greats Bernard Hopkins and Ricky Hatton. Golden Boy Promotions boasted a streak of major fights that produced big numbers, once setting a record with over 2 million Pay-Per-View subscriptions. Golden Boy Promotions and Top Rank have commonly collaborated to promote fight cards for headlining matches. Today, aside from claiming the crown as arguably the best fighter of his era, Mayweather also takes a seat on the throne of boxing promoters. Saturday's fight was presented by Mayweather Promotions and Top Rank, making Floyd, who was once the signee, now the owner and the main event.
With a huge fight payout and incredible multimedia marketing win on his side, Mayweather Promotions stands as the highest ranking, and highest earning company in the sport. With plans to retire after his final fight in September, Mayweather is already prepared to transition into full-time promoter and accelerate his own group of rising talent. Understanding the appeal of his personal brand, Mayweather successfully leveraged a position atop the premiere fighters of his era to forge an incredibly lucrative business model - schedule, promote and win his own fights. More impressively, he sets the price, controls the deals and manages the process. Floyd Mayweather Jr. exchange punches with Manny Pacquiao during their welterweight unification... [+] In addition to Mayweather the fighter and promoter, he is also CEO of The Money Team. What seemingly began as a playful name for his close-knit entourage has naturally evolved into a lavish lifestyle brand - displaying Mayweather's fleet of foreign cars, immaculate homes, luxe vacations and personal treatment catered for a king. That brand now sells popular merchandise, including hats, shirts and other apparel. Brilliantly mastering the art of entertainment marketing, Mayweather has managed to merge the influence and purchasing power of pop culture with the sport of boxing.
As seen Saturday night, nearly every notable artist, athlete and entertainer - from Jay Z and Michael Jordan, to Tom Brady and Denzel Washington - filled seats to see Mayweather perform. His presence within the Hip Hop community is well-documented, while he has further expanded the reach of present-day boxing to a more youthful global audience.
Since making the business decision to shift gears and manage his own brand, every move Mayweather makes is intentional, calculated and three steps ahead of the boxing industry. More than mastering the craft, he's mastered how to effectively market his movement.
Floyd Mayweather sells an unmatched work ethic, unparalleled dedication and an unwavering will to be the best ever. The other side of his brand flaunts an unapologetic bravado and brash delivery, excessively spending money and engaging in well-documented social media wars. His handling of the media is meticulously strategized and mapped out to mirror a specific marketing agenda. In the end, it all works in his favor, further solidifying his bullet-proof business model.
Mayweather approaches boxing as an entertainment enterprise, fueled by conflict, excitement and the desire of many to see a prideful champion fall from grace. Knowing this, he has embraced the bad boy persona artfully and made it his mission to eliminate the line between boxing and entertainment, making every experience in his career a combination of the two.
When you fully understand your brand, perfect your craft, outwork the competition and possess incredible skill - the only fate in front of you is an unbeatable one. Though there are several swirling debates spanning across social media, sports bars and barber shops nationwide as to where Mayweather ranks amongst best fighters of all time - one thing is certain: nobody has ever earned the name "Money" like Floyd Mayweather.
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