"The lawsuit, filed Tuesday and acquired by ESPN, seeks to "recover hundreds of millions of dollars in misappropriated funds and damages resulting from a long-running and elaborate scheme of financial fraud, breaches of fiduciary duty, and conspiracy orchestrated by Floyd J. Mayweather's former manager and advisor, Al Haymon, with the knowing and substantial participation and aid of Defendants Showtime Networks Inc. and Stephen Espinoza, among others.""
"Mayweather, 48, claims to be owed "at least" $340 million and cites a "complex web of hidden accounts, unauthorized transactions and deliberate concealment of financial records" as the reason he believes he has been defrauded from those funds. Haymon is not named as a defendant in the complaint. Espinoza didn't respond to a request to comment on the lawsuit. In 2013, Mayweather signed a 30-month, six-fight deal with Showtime that was, at the time, the richest for an individual athlete. He fought Robert Guerrero, Canelo Alvarez, Marcos Maidana (twice), Manny Pacquiao and Andre Berto during that deal and also faced UFC superstar Conor McGregor on Showtime PPV."
"Mayweather fought eight times on Showtime PPV, with the Pacquiao bout still standing as the highest-grossing pay-per-view in history with over 4.4 million purchases and $410 million in revenue generated. Mayweather reportedly earned around $250 million for that fight alone. In the lawsuit, Mayweather claims Showtime and Espinoza worked in tandem to divert the boxer's earnings into accounts controlled by Haymon and failed to provide financial transparency. Mayweather claims that he has "suffered enormous financial harm" and is missing at least $340 millio"
Floyd Mayweather Jr. filed a multimillion-dollar lawsuit seeking to recover at least $340 million he alleges was misappropriated through a scheme involving hidden accounts, unauthorized transactions and concealed financial records. The complaint alleges that former manager Al Haymon orchestrated the scheme with the knowing participation of Showtime Networks Inc. and executive Stephen Espinoza, and that Mayweather's earnings were diverted into accounts controlled by Haymon. Haymon is not named as a defendant. The complaint cites Mayweather's 2013 30-month, six-fight Showtime deal and notes the Pacquiao pay-per-view generated over 4.4 million purchases and $410 million in revenue.
Read at ESPN.com
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