Floyd Mayweather has filed a lawsuit against Showtime and its former Sports president, Stephen Espinoza, alleging their involvement in the misappropriation of a substantial portion of his career earnings.
Lawsuit Details
The lawsuit, filed in California, seeks to recover funds and damages resulting from an alleged scheme of financial fraud.
Mayweather claims his former advisor, Al Haymon, perpetrated this scheme with "substantial participation and aid" from Showtime and Stephen Espinoza.
Showtime and Espinoza are named as defendants in the suit; Al Haymon is not.
Mayweather alleges that Haymon, his advisor for over a decade, misappropriated approximately $340 million of his earnings, claiming Showtime and Espinoza assisted in this action. The lawsuit states the funds are currently "missing" and unaccounted for.
Allegations of Fund Diversion
The lawsuit references several of Mayweather's fights, including those against Manny Pacquiao and Conor McGregor. It alleges that Showtime and Espinoza directed funds owed to Mayweather into accounts controlled by Haymon.
Mayweather claims that after he changed management, his new team requested access to Showtime's financial records. The network reportedly stated these records were "lost in a flood" or were otherwise inaccessible.
Charges and Damages Sought
The legal action charges Showtime and Espinoza with aiding and abetting breach of fiduciary duty, civil conspiracy to commit fraud, conversion, and unjust enrichment. Mayweather is seeking $340 million in damages, in addition to punitive damages.