Outside Source
Floyd Mayweather is taking Showtime Sports to court. | Mike Sloan/Sherdog.com
Floyd Mayweather has filed a lawsuit against Showtime and former Showtime Sports president Stephen Espinoza seeking to recoup missing earnings from a number of his fights.
According to TMZ Sports, the undefeated former boxing champion claims ex-manager Al Haymon misappropriated a “significant portion of his career earnings” while collaborating with Showtime and Espinoza. Mayweather is seeking “to recover hundreds of millions of dollars in the misappropriated funds and damages resulting from a long-running and elaborate scheme of financial fraud.” In a lawsuit filed in Los Angeles County Superior Court, Mayweather is seeking $340 million and punitive damages.
In the suit, Mayweather alleges that Showtime and Espinoza gave money from some of his biggest fights — including bouts against Manny Pacquiao and Conor McGregor — directly to Haymon. According to Mayweather, that money is “missing and unaccounted for.”
Lost Financial Records
When Mayweather switched managers and asked for Showtime’s financial records for his fights, the company claimed they weren’t available, per the suit. Mayweather is suing Showtime and Espinoza for iding and abetting breach of fiduciary duty, civil conspiracy to commit fraud, conversion and unjust enrichment. Haymon is not listed in the suit.
“Floyd is one of boxing’s biggest pay-per-view draws. He generated hundreds of millions of dollars in revenue for Showtime,” attorney Bobby Samini said in statement to TMZ Sports. “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.”
This article first appeared at Recent News on Sherdog.com
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