Floyd Mayweather Files $340 Million Lawsuit Against Showtime

Floyd Mayweather Jr. has filed a lawsuit against Showtime Networks Inc., claiming he is owed at least $340 million due to alleged financial mismanagement and fraud. The lawsuit, submitted on October 3, 2023, accuses Mayweather’s former manager, Al Haymon, and Showtime executive Stephen Espinoza of orchestrating a complex scheme that misappropriated funds from the boxing champion.

In the suit, Mayweather alleges a “long-running and elaborate scheme of financial fraud, breaches of fiduciary duty, and conspiracy.” He claims that both Haymon and Showtime conspired to divert his earnings into accounts controlled by Haymon, depriving him of financial transparency and resulting in substantial financial harm. The boxing icon cites a “complex web of hidden accounts, unauthorized transactions, and deliberate concealment of financial records” as key elements of his case.

Mayweather, who retired in 2017 with an undefeated record of 50-0, has enjoyed a lucrative career, reportedly earning around $1.2 billion in fight purses. His marquee matches have included bouts against notable opponents such as Canelo Alvarez, Manny Pacquiao, and Conor McGregor. The lawsuit highlights that Mayweather’s financial losses are significant given his career earnings and the historical revenue generated from his fights.

Details of the Lawsuit

The lawsuit claims that Showtime and Espinoza mismanaged Mayweather’s earnings during a 30-month, six-fight contract that began in 2013, which was the most lucrative deal ever for an individual athlete at that time. Mayweather fought prominent opponents including Robert Guerrero and Marcos Maidana during this period. His bout with Pacquiao remains the highest-grossing pay-per-view event in history, generating over $410 million in revenue and more than 4.4 million purchases, with Mayweather reportedly earning $250 million for that fight alone.

Despite his successful career, Mayweather contends that he has “suffered enormous financial harm” due to the alleged misappropriation of funds. The lawsuit does not name Haymon as a defendant, but it does suggest his significant involvement in the financial dealings that led to Mayweather’s claims.

Espinoza has not publicly commented on the lawsuit, and attempts to reach Showtime for a statement were unsuccessful.

Future Endeavors

Since retiring from boxing, Mayweather has participated in several exhibition matches, maintaining his presence in the sport. Plans for a much-anticipated exhibition fight against Mike Tyson were announced in September 2022 for Spring 2026; however, no specific date or location has been confirmed. Additionally, reports have surfaced regarding a potential matchup with K-1 kickboxing legend Mike Zambidis on June 27, 2024, in Greece, although this has yet to be officially announced.

As the lawsuit unfolds, it could have significant implications for Mayweather’s financial future and his ongoing activities in the boxing world. The outcome will likely be closely watched by fans and industry insiders alike, as it could redefine the financial landscape for boxers and promoters alike.