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 to recoup lost revenue from some of his fights.According to TMZ SportsThe undefeated former boxing champion claims ex-manager Al Haymon embezzled a “significant portion of his career earnings” while working with Showtime and Espinoza. Mayweather is seeking to “recover hundreds of millions of dollars in misappropriated funds and damages resulting from a long-running and extensive financial fraud scheme.” In a lawsuit filed in Los Angeles County Superior Court, Mayweather is seeking $340 million and damages.
In the lawsuit, Mayweather alleges that Showtime and Espinoza gave money from some of his biggest fights — including fights against Manny Pacquiao and Conor McGregor — directly to Haymon. According to Mayweather, that money is ‘missing and unregistered’.
Lost financial data
When Mayweather changed managers and requested Showtime’s financial information for his fights, the company claimed it was not available, the lawsuit said. Mayweather is suing Showtime and Espinoza for aiding and abetting breach of fiduciary duty, civil conspiracy to commit fraud, conversion and unjust enrichment. Haymon is not mentioned in the lawsuit.
“Floyd is one of the biggest pay-per-view draws in boxing. He generated hundreds of millions of dollars in revenue for Showtime,” attorney Bobby Samini said in a statement to TMZ Sports. “Mr. Mayweather is now taking this fight to the courtroom to get back what he rightfully earned. Mr. Mayweather retires undefeated at 50-0 and will go to extremes in the courtroom just as he did in the ring.”
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