Over the course of his legendary boxing career, Floyd Mayweather served as one of Showtime Sports’ most bankable draws.
But now the 15-time world champion is suing the company and its former president, alleging that they participated in a fraudulent scheme by directing his earnings to his now-former manager.
In the lawsuit obtained by TMZ Sports, Mayweather says he is attempting to “recover hundreds of millions of dollars in the misappropriated funds and damages resulting from a long-running and elaborate scheme of financial fraud.” The lawsuit claims that his former advisor, Al Haymon, participated in the alleged scheme while being assisted by Showtime and former Showtime Sports president Stephen Espinoza.
Showtime and Espinoza are each listed as defendants in the suit. While Haymon is not listed as a defendant, the lawsuit claims that he misappropriated $340 million in career earnings — which remain unaccounted for — thanks to the help of Showtime and Espinoza, who allegedly sent money that was owed to Mayweather to an account that was controlled by Haymon.
After switching managers, Mayweather says that his new representation asked to see Showtime’s books. The boxing great claims the network told him that the records were “lost in a flood” and weren’t accessible.
Mayweather is reportedly seeking $340 million plus damages in his lawsuit, which accuses Showtime and Espinoza of aiding and abetting breach of fiduciary duty, civil conspiracy to commit fraud, conversion, and unjust enrichment. In a statement to TMZ Sports, Mayweather’s attorney Bobby Samini referenced his client’s undefeated in-ring record while taking a confident stance regarding his legal outlook.
“Floyd is one of boxing’s biggest pay-per-view draws,” he said. “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.”
Showtime’s parent company, Paramount, shuttered the network’s sports division in 2023.
About Ben Axelrod
Ben Axelrod is a veteran of the sports media landscape, having most recently worked for NBC's Cleveland affiliate, WKYC. Prior to his time in Cleveland, he covered Ohio State football and the Big Ten for outlets including Cox Media Group, Bleacher Report, Scout and Rivals.