Boxing legend Floyd Mayweather Jr. is suing Showtime for over $340 million, accusing the network and his former manager of a “financial fraud scheme” and screwing him out of “hundreds of millions of dollars.”
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According to TMZ Sports, Mayweather filed a lawsuit in California and is accusing his former advisor Al Haymon of conspiring with Showtime execs. In his lawsuit, the 50-0 fighter is looking to “recover hundreds of millions of dollars in the misappropriated funds and damages resulting from a long-running and elaborate scheme of financial fraud.”
Mayweather alleges Haymon, with whom he worked for over a decade, got “substantial participation and aid” from Showtime and former Showtime Sports president, Stephen Espinoza. While Mayweather accuses his former manager of scheming against his own client, he hasn’t listed him as a defendant, only Showtime and Espinoza.
Floyd Mayweather Accuses Showtime Execs Of Helping His Former Manager Steal Over $340 Million From His Career Earnings
Furthermore, Mayweather — who claims to have made over a billion dollars in earnings over his legendary career — alleges Haymon misappropriated a “significant portion of his career earnings.” Mayweather alleges Showtime and Espinoza helped Haymon scheme him out of about $340 million. The boxer claims the parties accused never forked over the money and that it is still “missing and unaccounted for.”
Additionally, in his lawsuit, Mayweather highlights several notable fights across his career. These include matches against Manny Pacquiao and Conor McGregor. He alleges Showtime and Espinoza paid out Mayweather’s earnings to Haymon, sending the money directly to accounts controlled by the boxer’s advisor.
Mayweather continued to claim that years after he switched managers, his new team requested to review Showtime’s books. The boxer claimed the network told him they were “lost in a flood,” no longer accessible.
Subsequently, the undefeated boxer is suing Showtime and Showtime Sports president Stephen Espinoza, accusing them of “aiding and abetting breach of fiduciary duty, civil conspiracy to commit fraud, conversion, and unjust enrichment.” Along with the alleged misappropriate $340 million, Mayweather is also seeking punitive damages.
In a statement released to TMZ, Mayweather’s attorney, Bobby Samini, is confident they will win their lawsuit. Samini said:
“Floyd is one of boxing’s biggest pay-per-view draws. He generated hundreds of millions of dollars in revenue for Showtime. Mr. Mayweather now takes this fight to the courtroom to recover what he rightfully earned. Retiring undefeated at 50-0, Mr. Mayweather will go the distance in the courtroom just as he has in the ring.”
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