Floyd Mayweather has been named the winner of the 2017 Boxing News Golden Gloves, beating out his fellow British fighter, Johny Hendricks, to become the richest man in boxing.
Mayweather won $25 million (€22.9 million) in the Golden Gloves event at the MGM Grand Garden Arena on Saturday night.
The winner of Friday’s event will also be paid a $50,000 prize purse for their performances.
“The Golden Gloves are a prestigious prize and this is a fantastic way to celebrate my win,” said Mayweather.
“To be in this position with the world’s best, with the best athletes and trainers, I can’t be more proud.”
Hendricks, who is fighting on the undercard of Saturday’s fight, also won $10 million in the event.
Hendrick was widely expected to face Mayweather in the first fight of the event, but the fight was pushed back to the final three weeks of the year because of the threat of Zika virus.
The winner of Saturday night’s event was also named as the top prize in the annual Golden Gloves tournament, which has become one of the most popular and lucrative events in the sport.
It is the first time in boxing history that a fighter has won the Golden Globes and Golden Gloves titles simultaneously, as both men were expected to battle for the title.
However, the winner will also receive $25,000 in prize purse, the same amount he was paid in the main event.
The tournament has become a hugely popular event, with fighters from all over the world competing in the various Golden Gloves events each year.
Last year, fighters from the United States, United Kingdom and Canada won the first three slots in the tournament, with Australia and Germany in the fourth spot.
The event has also become an annual event, which means that the winners will have the opportunity to take part in an event that is normally only held once a year.