Floyd Mayweather Sues Showtime, Executive to Recover $340 Million
Floyd Mayweather, a Hall of Fame boxer, has initiated a lawsuit against Showtime and its former president, Stephen Espinoza. The lawsuit, filed in a California court, claims that Mayweather was wronged by Al Haymon, his longtime adviser. He alleges that Haymon misappropriated nearly $340 million of his career earnings with the aid of Showtime and Espinoza.
Details of the Lawsuit
In the lawsuit, Mayweather accuses Showtime and Espinoza of several serious charges, including:
- Aiding and abetting breach of fiduciary duty
- Civil conspiracy to commit fraud
- Conversion
- Unjust enrichment
Mayweather seeks to recover the missing funds and demands punitive damages. He asserts that Showtime funneled payments meant for him directly to accounts controlled by Haymon. Attempts by Mayweather and his new management team to review Showtime’s financial records were thwarted. Showtime claimed that the documents had been “lost in a flood.”
Financial Background
Mayweather’s attorney, Bobby Samini, emphasized the boxer’s significance in generating substantial revenue for Showtime through pay-per-view events. Mayweather, who retired with a 50-0 record, is determined to recover what he believes is rightfully his:
“Mr. Mayweather now takes this fight to the courtroom to recover what he rightfully earned.”
His last professional fight occurred in 2017 against Conor McGregor, under the Showtime banner. Over his career, Mayweather fought prominently on Showtime, including bouts against major opponents like Manny Pacquiao and Canelo Alvarez. He originally signed a lucrative deal with Showtime in February 2013 for six fights over 30 months.
Showtime’s Transition
In December 2023, Showtime Sports ceased operations, coinciding with Espinoza’s departure from the company. Espinoza had played a pivotal role in promoting Mayweather’s fights during their collaboration. During his career, Mayweather often praised both Haymon and Showtime. Despite the legal turmoil, he continues to explore further boxing opportunities, including potential exhibition matches.
Future Prospects
Mayweather is expected to face Mike Tyson in a scheduled exhibition match in March. Details surrounding this fight remain scarce. There have also been ongoing discussions about a rematch with Manny Pacquiao.
The outcome of this lawsuit may not only affect Mayweather’s finances but could also reshape the dynamics between prominent figures in boxing management.
