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 failed to pay him the hundreds of millions of dollars he is owed for fight earnings. Mayweather claims that his former manager, Al Haymon, diverted the money through a scheme of financial manipulation and self-dealing, funneling fight revenues into secret accounts that Mayweather did not control.
Mayweather, a highly successful boxer with career earnings of approximately $1.2 billion, seeks at least $340 million in damages under claims related to breach of fiduciary duty and fraud. He had guaranteed purses of $100 million for his fights with Conor McGregor and Manny Pacquiao, not including his share of the profits from these record-breaking events. Mayweather's lavish lifestyle, including posing with stacks of cash, further emphasizes his immense wealth.
In 2013, Mayweather signed an exclusive multi-fight deal with Showtime, broadcasting his fights with Pacquiao and McGregor. However, instead of paying Mayweather directly, Showtime wired his share of fight proceeds to an account controlled by his tax lawyer. Mayweather accuses Haymon of stealing the money, and when his new management team requested detailed breakdowns for certain bouts in 2024, Showtime declined to produce them. They later invoked a statute of limitations defense, claiming that any claims related to fights in 2015 are time-barred.
Mayweather argues that Showtime should have been aware of the theft because Haymon's behavior was unusual for a typical manager. Under a 2005 oral agreement, Haymon was supposed to act as Mayweather's manager for a 10% fee, but he continued in this role for 15 years. Haymon handled contract negotiations, TV deals, sponsorships, and investments for Mayweather. Banking records reveal large transfers to companies controlled by Haymon, falsely labeled as 'repayment' or 'loan payoff.' Tens of millions of dollars were moved to Alan Haymon Development shortly after major fights.
The lawsuit also highlights discrepancies in financial documents, allegedly showing inflated expense reimbursements charged against the Pacquiao fight. Mayweather claims that these charges imply the Pacquiao revenue pool was used as a slush fund to pay unrelated costs, such as the Andre Berto payout. Mayweather's legal team is seeking to uncover the truth behind these financial manipulations and hold Showtime and Haymon accountable for their actions.
