Floyd Mayweather and Showtime are now on opposite sides of a massive legal dispute, years after working together on some of the most lucrative events in boxing history.
According to a report from TMZ, Mayweather has filed a lawsuit in California against Showtime and its longtime former sports president, Stephen Espinoza, alleging aiding and abetting breach of fiduciary duty, civil conspiracy to commit fraud, conversion, and unjust enrichment. The complaint seeks to recover at least $340 million in allegedly misappropriated funds, along with punitive damages.
Mayweather’s attorney, Bobby Samini, said the Hall of Famer believes he was not properly compensated for the extraordinary revenue his fights generated. “Floyd is one of boxing’s biggest pay-per-view draws. He generated hundreds of millions of dollars in revenue for Showtime,” Samini told TMZ Sports. “Mr. Mayweather now takes this fight to the courtroom to recover what he rightfully earned.”
At the center of the claim is the allegation that money intended for Mayweather was instead diverted to his longtime adviser Al Haymon, with the knowledge and participation of Showtime and Espinoza. Despite those accusations, Haymon was not named as a defendant in the lawsuit, though sources familiar with the situation suggest further legal action could follow.
Mayweather partnered with Showtime in 2013 after leaving HBO, embarking on a six-fight deal that included landmark events such as his wins over Saul “Canelo” Alvarez in 2013, Marcos Maidana twice in 2014, and Manny Pacquiao in 2015. The Pacquiao bout remains the highest-grossing fight in boxing history, while Mayweather’s 2017 crossover fight with Conor McGregor ranks second in several financial categories.
Image Credit: ESPN