Floyd Mayweather Jr. Files $340 Million Lawsuit Against Showtime Networks Over Earnings
Floyd Mayweather Jr. has filed a lawsuit against Showtime Networks, alleging that the company has been withholding his earnings from boxing matches. Mayweather claims that his former manager, Al Haymon, orchestrated a scheme to divert fight revenues into secret accounts, effectively stealing millions of dollars from him. The lawsuit seeks at least $340 million in damages, citing breach of fiduciary duty and fraud.
Mayweather, a legendary boxer with career earnings of approximately $1.2 billion, has been a prominent figure in the sport. He secured lucrative deals, including a $100 million purse for his fights against Conor McGregor and Manny Pacquiao. Mayweather's lavish lifestyle, often flaunting his wealth in photos with stacks of cash, further highlights the magnitude of his earnings.
In 2013, Mayweather signed an exclusive multi-fight deal with Showtime, broadcasting his fights with Pacquiao and McGregor. However, instead of directly paying Mayweather, Showtime directed his share of fight proceeds to an account controlled by his tax lawyer. Mayweather accuses Haymon of stealing this money, alleging that Haymon's actions were not those of a typical manager.
The lawsuit reveals that when Mayweather's new management team requested detailed breakdowns for certain fights in 2024, Showtime refused to produce them. Showtime later invoked a statute of limitations defense, claiming that any claims related to fights in 2015 are time-barred. Haymon, who is not named in the complaint, claimed the records were 'lost due to a flood' in a story facility.
Mayweather argues that Showtime should have been aware of the theft, as Haymon's behavior was unusual for a manager. Under a 2005 oral agreement, Haymon was supposed to manage Mayweather for a 10% fee, but he continued in this role for 15 years. Haymon handled contract negotiations, TV deals, sponsorships, and investments for Mayweather.
The lawsuit points to banking records showing large transfers to companies controlled by Haymon, falsely labeled as 'repayment' or 'loan payoff.' Mayweather claims that tens of millions of dollars were moved to Alan Haymon Development shortly after major fights. Additionally, the suit alleges numerous one-off payments, including transactions of up to $15 million on dates unrelated to any fight, with memos mentioning 'expenses.'
To conceal the stolen funds, Haymon only showed Mayweather certain documents, preventing him from learning the exact fight earnings. The complaint also mentions that Haymon altered the date of a contract to misrepresent when it was signed. Furthermore, there are discrepancies in financial documents, allegedly showing inflated expense reimbursements charged against the Pacquiao fight, which were also used for a $20 million reimbursement for the 2015 Andre Berto bout.
Mayweather's lawsuit highlights a potential misuse of fight revenue, suggesting that the Pacquiao revenue pool was used as a slush fund for unrelated costs. The case raises questions about the transparency and accountability of boxing promotions and management, inviting discussion on the ethical practices within the sport.
