Mayweather & Co. to pay $10 million to Floyd Mayweather for his endorsement deal
Showtime announced Wednesday that it had signed Floyd Mayweather to a multi-year endorsement deal worth $10,000,000.
The deal is the first time that Showtime has signed a professional athlete for an endorsement deal.
Mayweather is expected to make the announcement at a press conference in New York City on Thursday.
The agreement is for a one-year term.
“Mayweather is the most sought-after and most recognized athlete in the world,” Showtime CEO Stephen Espinoza said in a statement.
“He is a world class athlete and a star of boxing, boxing rings and the world.
We are honored to be a part of Mayweather’s brand.
This is a significant step forward for the brand.”
The announcement comes on the heels of Mayweather winning his second consecutive superfight against Saul Alvarez.
Alvarez defeated Floyd on March 26 in Las Vegas and Mayweather won the fight by unanimous decision.
Mayweather has become the highest-paid athlete in boxing history, according to Forbes.
He is currently the highest paid athlete in sports entertainment with a reported $3.2 billion in revenue.
Mayweather Jr. is the highest earned athlete in Hollywood with $2.5 billion in earnings last year.
Mayweather and Showtime have been linked to an agreement that would give Showtime a significant piece of Mayweather Promotions.
The two companies were also reportedly in talks to make a deal with UFC president Dana White that would bring UFC President Dana White to Showtime.
ESPN’s Brian Windhorst reported in a report that a deal was imminent for the two sides to make Mayweather the face of the new Showtime network.
ESPN has long been rumored to be interested in a Mayweather-White deal, though White has denied the rumors.
ESPN and Mayweather have been on a war footing since the two teams were in negotiations for the Mayweather/McGregor fight, with the two parties seemingly at odds about who would take on UFC heavyweight champion Anthony Pettis and how much they would make.
ESPN is the only network that has not signed on with White, who is expected in New Jersey on Thursday for the Super Bowl LI game.