Floyd Mayweather Jr. Sues Showtime, Claims $340M Owed

Floyd Mayweather Jr., a renowned name in professional boxing, has recently filed a $340 million lawsuit against Showtime Networks Inc. The boxer alleges that he has been the victim of financial malpractice that has resulted in significant losses over several years.

Details of the Lawsuit

The lawsuit was officially filed on a Tuesday and outlines claims of a complex conspiracy involving his former manager, Al Haymon, and Showtime’s Stephen Espinoza. Mayweather contends that this group engaged in schemes to misappropriate his earnings. His complaint emphasizes financial misconduct, stating there was a “long-running and elaborate scheme of financial fraud” that he was subjected to.

Financial Claims

Mayweather asserts that he is owed at least $340 million, stemming from what he describes as a “complex web of hidden accounts, unauthorized transactions, and deliberate concealment of financial records.” Despite having an illustrious career that reportedly netted him over $1.2 billion in fight purses, he claims he suffered “enormous financial harm” due to these alleged actions.

Background on Mayweather’s Career

Throughout his illustrious career, Floyd Mayweather has achieved many milestones. Between 2012 and 2014, he topped Forbes’ list as the highest-paid athlete. His 30-month, six-fight contract with Showtime was groundbreaking at the time and included high-profile bouts against fighters like Canelo Alvarez and Manny Pacquiao.

• Mayweather holds a perfect record of 50-0 as a professional boxer.
• His bout with Manny Pacquiao remains the highest-grossing pay-per-view event, generating $410 million.
• He reportedly earned around $250 million from that single fight.

Current Developments

Although retired from professional boxing since 2017, Mayweather has continued to engage in exhibition matches. Recently, he announced a planned exhibition fight with Mike Tyson, while also being linked to a potential match against K-1 kickboxing legend Mike Zambidis in Greece for June 27. However, no official confirmation has been made regarding either fight.

As the legal proceedings unfold, the outcome of this lawsuit may have significant implications for Mayweather’s finances and his legacy in the boxing world.