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 fraudulently diverted hundreds of millions of dollars in fight earnings to his former manager, Al Haymon. Mayweather claims that Showtime participated in a years-long scheme of financial manipulation and self-dealing, stealing vast sums of money by funneling fight revenues into secret accounts he didn't control.
Mayweather, with approximately $1.2 billion in career earnings, is the highest-paid boxer in history. He secured guaranteed purses of $100 million for his fights with Conor McGregor and Manny Pacquiao, not including his share of the enormous profits from these record-breaking events. Mayweather has made flashy displays of his wealth, often posing in photos with stacks of cash.
In 2013, Mayweather left HBO to sign an exclusive multi-fight deal with Showtime. His fights with Pacquiao and McGregor were broadcast under this agreement, which was the richest in boxing history at the time. However, instead of paying Mayweather directly, Showtime wired his share of fight proceeds to an account controlled by his tax lawyer, which Mayweather believes was then stolen by Haymon.
When Mayweather's new management team requested detailed breakdowns for certain bouts in 2024, Showtime refused to produce them. They later asserted a statute of limitations defense, claiming that any claims related to fights in 2015 are time-barred. Haymon told Mayweather that the records were 'lost due to a flood' in a storage facility, according to the complaint.
Mayweather argues that Showtime should have been aware of the theft because Haymon, who is not named in the complaint, was not behaving like a typical manager. Under a 2005 oral deal, Haymon agreed to act as Mayweather's manager for a 10% fee, which expired a year later but continued for the next 15 years. Haymon handled contract negotiations, TV deals, sponsorships, and investments for Mayweather.
The lawsuit points to banking records showing large transfers to companies controlled by Haymon, falsely labeled as 'repayment' or 'loan payoff.' Mayweather claims that tens of millions of dollars were moved to Alan Haymon Development shortly after major fights. Other records indicate numerous one-off payments, including transactions of up to $15 million on dates unrelated to any fight, with memos like 'expenses' accompanying many of them.
To conceal the stolen funds, Haymon only showed Mayweather certain documents, preventing the boxer from learning the exact sums earned from fights. On one occasion, the manager altered the date of a contract to misrepresent when it was signed, according to the complaint. Additionally, there are discrepancies in financial documents allegedly showing inflated expense reimbursements charged against the Pacquiao fight, with funds also used for a $20 million reimbursement for the 2015 Andre Berto bout. Mayweather argues that these charges imply the Pacquiao revenue pool was used as a slush fund to pay unrelated costs, like the Berto payout.
Showtime has not immediately responded to a request for comment.
