Former heavyweight champion Larry Holmes knows more than he should about overspending on luxurious items. Holmes made millions of dollars during his reign as the world champion, and made millions more in some high profile fights that came in the late stage of his career. In the end, he managed to waste away his millions and had nothing left.

Holmes believes the pound-for-pound king, Floyd Mayweather Jr. (45-0, 26KOs), is heading down the same road, and after the smoke clears he will end up in the same scenario. He feels Mayweather is another prime example of a fighter striking it rich and then overspending on way too many luxurious items.

"The story with Mayweather interests me more than his fighting, because he is crazy. Mayweather is crazy rich. If I could have made $45 million dollars in one night, I would have been the nicest guy in the world," Holmes told Sky Sports Ringside.

"No, [he will not keep his money]. Money don't have no friends. Money will go with you and be with him in the morning, and go with her and him and might even get to my pocket. Money don't have no friends, because when people are rich their eyes see things that they don't really need...like Mayweather, and like Larry Holmes even. I had five Rolls Royces. I had 27 cars. I had a bus, a 49 seat bus for all of my friends to go to Atlantic City to come hang out and party. Did I need any of that? No."

Bronx boxing champ’s tumble from $5M glory to homeless woe

By Candice M. Giove

November 21, 2010 | 5:00am