Floyd Mayweather Jr. reportedly earned more than $1 billion from his stellar professional boxing career that saw him retire undefeated.
But the 48-year-old is now claiming in a lawsuit that hundreds of millions of dollars he earned from his boxing career were not transferred to his bank account, TMZ Sports reported. In the lawsuit filed against Showtime in California, Mayweather claims that his ex-manager swindled him out of hundreds of millions of dollars, and the network was instrumental in that.
Mayweather, in the lawsuit, says that he aims to “recover hundreds of millions of dollars in the misappropriated funds and damages resulting from a long-running and elaborate scheme of financial fraud.”
The 48-year-old claims that his longtime advisor, Al Haymon, was behind the financial fraud, adding that Showtime and former Showtime Sports president, Stephen Espinoza, provided Haymon with “substantial participation and aid.”
Though the lawsuit names Showtime and Espinoza as defendants, Haymon, who was Mayweather’s manager and advisor for over a decade, is exempted.
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Mayweather accuses Haymon of misappropriating $340 million, which represents a “significant portion of his career earnings.” He claims that Showtime and Espinoza assisted Haymon in swindling the funds, and the money remains “‘missing’ and unaccounted for.”
Mayweather also makes mention of some of his high-profile fights in the lawsuit. They include his bouts against Manny Pacquiao and Conor McGregor. He claims that Showtime and Espinoza sent Haymond money that was rather supposed to be given to him, adding that it was transferred to accounts that Haymon controlled, TMZ Sports reported.
The suit also claims that after Mayweather changed managers years later, his new representatives requested access to Showtime’s documents. But the company claimed that they were “lost in a flood,” or could not be retrieved.
Mayweather is seeking punitive damages in addition to the $340 million.
“Floyd is one of boxing’s biggest pay-per-view draws. He generated hundreds of millions of dollars in revenue for Showtime,” Mayweather’s attorney, Bobby Samini, told TMZ Sports about the lawsuit.
“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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