Retired boxing champion Floyd Mayweather Jr has just dropped $18 million on a knock-out new waterfront estate in Miami Beach.

The contemporary three-story spread is set on the city’s upscale and guard-gated Palm Island, an enclave where the typical asking price for a home stood at $21 million in July, a whopping 200 per cent increase from the same time in 2020, according to data from realtor.com.

Mr Mayweather, 44, was crowned the highest-paid athlete of the decade by Forbes in 2019 after he brought in ​​$915 million over a 10-year period. He made last week’s purchase through a Nevada-based limited liability company of which he’s manager, property records show.

Spanning 10,853 square feet, his lavish new home boasts unobstructed views of the city skyline, passing cruise ships and the coveted city sunset, according to the listing with Dina Goldentayer and Ana Viyella of Douglas Elliman, who declined to comment on the sale.

The nine-bedroom mansion was conceived for both indoor and outdoor enjoyment, the listing said. Fitted with neutral, sleek interiors, it has amenities including an indoor movie theatre, a gym, a game room, a large entertainment area, smart-home systems and an elevator.

There’s also a roof deck, a pool, a four-car garage and a private dock which can accommodate boats up to 100 feet. Tanasha Pettigrew of Galleria International Realty represented Mayweather in the deal.

This latest addition to Mayweather’s real estate portfolio joins an opulent Las Vegas mansion the boxer bought in 2018 for $10 million and a French Modern-style estate in Beverly Hills he snapped up in 2017 for $26 million.

Mayweather, who won a bronze medal at the 1996 Olympics as a featherweight, retired in August 2017 with an undefeated record. A representative for the boxer didn’t immediately respond to a request for comment.

• An MSN report