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 failed to pay him the hundreds of millions of dollars he is owed for fight earnings. Mayweather claims that his former manager, Al Haymon, embezzled these funds by diverting fight revenues into secret accounts, a scheme that lasted for years. With a career earnings total of approximately $1.2 billion, Mayweather is the highest-paid boxer in history, having secured guaranteed purses of $100 million for his fights against Conor McGregor and Manny Pacquiao.
In 2013, Mayweather left HBO and signed an exclusive multi-fight deal with Showtime, which was the richest in boxing history at the time. However, instead of paying him directly, Showtime directed his share of fight proceeds to an account controlled by his tax lawyer. Mayweather accuses Haymon of stealing this money, and when his new management team requested detailed breakdowns for certain fights in 2024, Showtime refused to produce them, citing a statute of limitations defense for any claims related to fights in 2015. Haymon claimed that the records were lost due to a flood in a storage facility.
Mayweather argues that Showtime should have been aware of the theft because Haymon's behavior was unusual for a manager. Under a 2005 oral agreement, Haymon was supposed to manage Mayweather for a 10% fee, but he continued in this role for 15 years, handling contract negotiations, TV deals, sponsorships, and investments. Mayweather's lawsuit points to banking records that show large transfers to companies controlled by Haymon, falsely labeled as 'repayment' or 'loan payoff'. Tens of millions of dollars were moved to Alan Haymon Development shortly after major fights.
The suit also alleges that Haymon made numerous one-off payments, some as high as $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 him from learning the exact fight earnings. In one instance, Haymon altered the date of a contract to misrepresent when it was signed.
Additionally, there are discrepancies in financial documents, allegedly showing inflated expense reimbursements charged against the Pacquiao fight, which were also used for a $20 million reimbursement for the 2015 Andre Berto bout. Mayweather claims that these charges imply the Pacquiao revenue pool was used as a slush fund to pay unrelated costs, such as the Berto payout.
Showtime has not yet responded to requests for comment.
