Floyd Mayweather has filed a lawsuit in California, alleging that Showtime and its former president Stephen Espinoza assisted in misappropriating $340 million from his career earnings. The boxing champion claims his adviser, Al Haymon, orchestrated a financial fraud scheme with their help, despite Haymon not being named in the suit. Mayweather alleges that significant payments from his landmark bouts against Manny Pacquiao and Conor McGregor were funneled into Haymon’s accounts, leading to his ongoing quest for restitution.
Background of the Lawsuit
Floyd Mayweather, the boxing legend renowned for his undefeated record, has taken a significant step by filing a lawsuit in California. The suit specifically targets Showtime and Stephen Espinoza, the former president of Showtime Sports, accusing them of enabling the alleged misappropriation of $340 million from his career earnings. This claim arises from accusations that Al Haymon, Mayweather’s longtime adviser, orchestrated a complex financial fraud scheme, diverting funds that rightfully belonged to Mayweather.
Mayweather’s lawsuit claims that despite generating over $1 billion in revenue throughout his illustrious 21-year boxing career, he failed to receive substantial amounts owed to him due to alleged misconduct by Showtime and their executive. Significant financial losses reportedly stem from high-profile fights, including the historic bouts against Manny Pacquiao and Conor McGregor, where payments intended for Mayweather were allegedly redirected into accounts controlled by Haymon.
Frequently Asked Questions
What are the main accusations in Floyd Mayweather’s lawsuit against Showtime and Stephen Espinoza?
Mayweather accuses Showtime and Espinoza of facilitating a scheme that misappropriated $340 million of his earnings by diverting payments intended for him into accounts controlled by his adviser, Al Haymon.
How long did the alleged financial fraud scheme last?
The lawsuit claims that the fraudulent activities spanned over a decade, starting from the time when Mayweather began working with Haymon in 2006.
What specific financial losses is Mayweather seeking in the lawsuit?
In addition to the $340 million in allegedly missing funds, he also seeks punitive damages and claims he is still owed around $20 million from his last fight with Andre Berto in 2015.
Why did Mayweather change his management team prior to filing the lawsuit?
He brought in Richard Schaefer to help uncover financial records related to important fights, which, according to his team, were reportedly lost or inaccessible when requested from Showtime.
How have Showtime and Espinoza responded to the allegations made in Mayweather’s lawsuit?
As of now, neither Showtime nor Stephen Espinoza has publicly commented on the claims made in the lawsuit.
