Boxer's dad fears he might end up broke like Mike Tyson

Floyd Mayweather is about to come out of the richest fight in boxing history with about $180million to his currently estimated worth of $420 – to $600m but his father, Floyd Snr fears he might end up broke and penniless.

The boxer is known to be an extravagant spender, splashing several millions on cars, jewelries, gambling, private jet trips and a slew of other expensive habits which is making his dad scared that his son might end up like former boxer, Mike Tyson who blew $600m to declare bankrupt later in his life.

"Look at all the millionaires who go broke. When you have this much money sometimes you can't control it," Mayweather Senior said.

"Another hundred million, two hundred million on top of what you already have looks like a tall thing. But you can do all kind of things with money.

"If Floyd does the right thing with his he will be alright for the rest of his life. But you can get through any amount in two years spending on possessions, trips, cars, women……

"Most fighters go down that hole. And when they do the friends go the same way as the money.

"It's the way of life, man."

Many close to the boxer have also expressed the same fears.

His friend and rapper 50 Cent, his trainer, Freddie Roach have often complained of his expensive lifestyle but Mayweather has assured that his finances have been sorted out.

"It's all under control. I've put the right people in place around me to conduct my affairs in an orderly fashion.

"If I wanted I could retire today. I've made good investments.

"I've taken care of the future for all my children. I've invested in good business.

"My team brought in another $1l million in 48 hours this week. I'm guaranteed a pay cheque of $700,000 a month for life once I quit the ring."