Floyd Mayweather Sues Showtime For $340M

By bigced 4 months ago

Floyd Mayweather has filed the Showtime Network and its former president accusing them of cheating him out of $340 million

Floyd Mayweather is undefeated in the boxing ring, but he is now trying to win outside the ring by filing a lawsuit against the Showtime network, accusing it of shorting him hundreds of millions of dollars and seeking $340 million in damages.

According to TMZ, the pugilist filed the paperwork in California stating that the network, along with his former manager and longtime advisor, Al Haymon, and former Showtime Sports president, Stephen Espinoza, cheated him out of the money, a “significant portion of his career earnings,” while he was under contract with them.

Mayweather wants to “recover hundreds of millions of dollars in the misappropriated funds and damages resulting from a long-running and elaborate scheme of financial fraud” that was allegedly perpetrated by the network. He also claims that Haymon received “substantial participation and aid” from them.

The fighter claims that the money that was supposed to be deposited into his bank account never reached it because the network paid the funds to Haymon. Haymon is not named in the lawsuit.

The 50-0 fighter stated that after switching managers, the new team inquired about payments and wanted to review Showtime’s financials. They were told the books were unavailable because they were “lost in a flood” or otherwise inaccessible. Mayweather is suing the defendants for aiding and abetting breach of fiduciary duty, civil conspiracy to commit fraud, conversion, and unjust enrichment. Along with the requested $340 million, Mayweather is also seeking punitive damages.

Mayweather’s attorney, Bobby Samini, told the media outlet that they are confident they will emerge victorious.”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.”

Floyd Mayweather Sues Showtime For $340M