Former five-division champion Floyd Mayweather was in the spotlight a few days ago when employees of the Mayweather Gym in Los Angeles staged a protest outside the facility on Highland Avenue over non-payment of wages. However, the latest update on the matter has absolved the undefeated legend of the sport from any wrongdoing.

A report from the Daily Mail highlighted that the employees claimed they hadn’t been paid by the boxing legend’s ‘Money Team’ company for weeks. In retaliation for the alleged nonpayment of wages, disgruntled staffers brought out signs and shouted during the protest to raise awareness of their situation, as they were unable to cover their daily expenses. 

One sign at the protest said, “modern-day slavery” while the other read “The $ Team has no $,” accusing Mayweather’s money team of bankruptcy. “We’re out here just letting everybody know that they have not been treating us right,” one employee told Daily Mail. 

“Even if you work for a different company and you ain’t getting paid, you’re scared to show up and say something because you know how businesses do. They silence you and they fire you because everything’s ‘at will.’”

They accused the Mayweather of Boxing and Fitness group of violating the California Labor Code. However, boxing insider Rick Glaser hopped on X today to shed light on the reality of the matter. “Allegations of non-payment of wages against @FloydMayweather are false,” Glaser wrote. “This Mayweather Gym in LA is a franchise that Floyd gets a franchise fee for.”

Glaser also added, “Floyd himself has nothing to do with thee assets or liabilities of this. These reports are misleading, & defamatory.” It’s also worth noting that the staffers staging the protest had claimed that they were not aware whether Mayweather himself was in the loop about their situation. 

However, this isn’t the first time a Mayweather Gym has faced the threat of closure. Last year in May, Mayweather’s gym in Elk Grove was shut down due to a breach of contract involving $30,000 in unpaid rent. In the meantime, the bankruptcy allegations never really made any sense because the boxing legend was spending millions some time ago. 

Floyd Mayweather goes on a real estate shopping spree 

Mayweather started investing in real estate in October by spending $402 million to purchase a portfolio of more than 60 buildings in New York City. He went on to invest an unspecified amount in the 601W Companies, which have a collection of 18 buildings and 10 million square feet of space worth a staggering $10 billion.

While money was leaving Mayweather’s accounts, he sold his home in Miami’s Biscayne Bay for $22 million. The boxing legend also acquired a stake in the former Versace Mansion—it has been transformed into a luxury hotel in Miami Beach. He then entered into a joint venture with Go Partners by investing $100 million into a sprawling portfolio in New York, featuring both luxury and market-rate housing.

That being said, the nonpayment of wages issue seems to be unraveling, as Rick Glaser has come out in Floyd Mayweather’s support. He calls the gym a franchise and clears Mayweather of any wrongdoing. Meanwhile, Mayweather himself hasn’t addressed the situation. What do you think about Glaser’s statement?