Former Showtime executive Stephen Espinoza has pushed back against speculation that Floyd Mayweather is broke, saying the boxing legend remains “very wealthy” despite suffering financial losses and facing several challenges.
Espinoza, who worked closely with Mayweather during the most lucrative period of his career, also rejected claims that Showtime failed to pay money owed to the former champion. “There’s not a penny that I oversaw that didn’t go where it was supposed to go,” he said on All The Smoke.
Mayweather has alleged financial wrongdoing involving a former representative, although no finding of wrongdoing has been made against those accused. Espinoza said he believes Mayweather may have received poor advice and suggested his financial position is not as serious as some reports have claimed.
“At the end of the day, yes, he spent a lot. He gambles a lot. But he also had a lot of real estate, a lot of property,” Espinoza said. “Even with the losses that he’s had… he still, by normal people standards, [is] very wealthy.”
Mayweather has also publicly dismissed speculation about his finances, insisting earlier this summer that he was “good.” Espinoza’s assessment is that while the 49-year-old has experienced losses and financial difficulties, he is far from broke.
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