Floyd Mayweather Jr. Launches $340 Million Lawsuit Against Showtime
Floyd Mayweather Jr., the legendary boxing champion known as “Money,” is launching a staggering $340 million lawsuit against Showtime Sports and its former head, Stephen Espinoza. At 48 years old, Mayweather, who has amassed over a billion dollars during his storied boxing career, believes he has not received what is justly owed to him.
Allegations Against Showtime and Espinoza
Filed in California, the lawsuit accuses Showtime and Espinoza of various serious allegations, including breach of fiduciary duty, civil conspiracy to commit fraud, conversion, and unjust enrichment. The crux of Mayweather’s claim is that profits which should have been disbursed to him were instead misappropriated and funneled to Al Haymon, his former advisor, who is not named as a defendant despite implications in the suit.
The legal documents highlight that when Mayweather’s current management sought to examine Showtime’s financial records, they were informed that crucial documents had been lost due to flooding and were therefore unavailable.
Mayweather’s Contributions to Showtime
Bobby Samini, Mayweather’s attorney, emphasized his client’s significant contributions to Showtime’s revenue, stating,
“Floyd is one of boxing’s biggest pay-per-view draws, and he generated hundreds of millions of dollars for Showtime. Now he is taking this fight into the courtroom to reclaim what he rightfully earned. Just as he retired with an undefeated record of 50-0, he will go the distance in this legal battle.”
The boxer has been associated with several historic pay-per-view events, particularly his high-profile matches against Manny Pacquiao in 2015 and Conor McGregor in 2017, both of which broke records and generated monumental revenue for the network. Mayweather’s bouts under the Showtime label have been estimated to have achieved around 15 million pay-per-view buys and generated over a billion dollars in total revenue.
Industry Changes and Mayweather’s Future
In a significant development in the industry, Showtime Sports was shut down by its parent company, Paramount, in 2023, which now holds partnerships with TKO for UFC events and Zuffa Boxing, further complicating the landscape of boxing broadcasting and management.
Since retiring in 2017, Mayweather has ventured into exhibition matches, with his latest contest against John Gotti III taking place in August 2024, demonstrating his continuing involvement in the sport even after stepping away from professional competition.
