Did Floyd Mayweather pay $1M for diamond-encrusted hat worn at Gervonta Davis fight? 'Money' responds

Floyd Mayweather's hat wasn't worth one million dollars, as 'Money' has now revealed.

Over the weekend, the boxing legend showed up to support Gervonta Davis in his fight against Ryan Garcia. Mayweather has worked with 'Tank' for over a decade and was there to see his crowning moment on Saturday night.

In the Showtime pay-per-view main event, the WBA (Regular) lightweight champion scored a stoppage win over 'KingRy'. Mayweather was in Davis's corner on fight night and helped coach his longtime protege to victory. While it was nice to see the legend make amends with 'Tank', many fans also quickly noticed his hat.

Yes, on fight night, Floyd Mayweather was wearing a diamond-encrusted hat. Shuki Diamonds, the boxer's longtime jeweler, revealed that the hat was worth over a million dollars. In fact, he estimated that if the hat ever hits an auction, it could go as high as five million.

However, Floyd Mayweather himself doesn't believe the hat is worth that much. Following reports of the object's supposed worth, 'Money' took to Instagram to say that the rumors weren't true. That being said, the hat is still worth a lot of money. Specifically, $30,000 dollars.

See Floyd Mayweather's posts about the hat below:

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Floyd Mayweather hat: Will 'Money' fight again?

Lost in the midst of reports about Floyd Mayweather's hat was his recent fight announcement.

'Money' recently retired as a professional boxer, but still competes in exhibition matchups. His most recent exhibition bout took place earlier this year in the U.K., fighting to a no-contest against Aaron Chalmers.

Following the fight, the boxing legend stated that he planned to do a multi-country exhibition world tour. With England now done, Mayweather plans to return to America in June to face John Gotti III in an exhibition matchup. Like his last few bouts, the matchup is expected to land on pay-per-view.

The MMA fighter is the grandson of former New York gangster John Gotti. However, he's seemingly decided to avoid the family business in favor of competing in combat sports instead. Holding a 5-1 record in the cage, he's also begun to establish himself in the boxing ring.

John Gotti III currently holds a 2-0 professional boxing record, defeating Alex Citrowske and Albert Tulley since his debut last fall. However, the MMA veteran will now have his hands full in June, as he attempts to be the first loss of the boxing legend's career.