Retired boxing legend Floyd Mayweather Jr. filed a blockbuster lawsuit on February 4, 2026, in Los Angeles County Superior Court against Showtime Networks Inc. and its former president of sports, Stephen Espinoza. The suit accuses the defendants of aiding a long-term financial fraud scheme led by Mayweather’s former advisor Al Haymon (who is notably not named as a defendant, reportedly out of personal respect). Mayweather claims he was deprived of at least $340 million in earnings from his pay-per-view fights broadcast on Showtime.
Core Claims of Misconduct
The complaint outlines a 15-year scheme of financial fraud involving:
- Hidden accounts and unauthorized diversions — Showtime allegedly wired fight earnings to third-party accounts controlled by Haymon and his associate Jeff Morris, instead of directly to Mayweather. Funds were then diverted into entities controlled by Haymon under false labels like “reimbursements,” “loan payoffs,” or “expenses.”
- Use of high-revenue fights as a slush fund — Money from blockbuster events was reportedly used for unrelated expenses, including a $20 million “reimbursement” falsely linked to the 2015 Andre Berto fight.
Concealment and Altered Records
Mayweather alleges systematic efforts to hide the truth:
- Haymon reportedly showed only selective documents.
- Contract dates were altered (e.g., whited-out and rewritten, with internal notes like “We need to cover our a–”).
- Records were later claimed destroyed in a 2023 flood.
- When Mayweather requested full financial records in 2024, Showtime refused, citing statute of limitations or unavailability.
Examples of Irregular Payments
Specific irregularities cited include:
- Large one-off transfers (up to $15 million) on dates unrelated to any fight.
rhe - Multi-year delays in payouts, including from the Pacquiao fight.
- Using top-earning bouts to fund unrelated expenses.
Role of Showtime and Stephen Espinoza
The lawsuit accuses Showtime and Espinoza of:
- Ignoring clear red flags in the unusual payment routing (hundreds of millions through third parties).
- Knowingly facilitating diversions.
- Helping conceal the scheme by withholding records.
Espinoza, who negotiated Mayweather’s lucrative 2012 six-fight deal, is highlighted for providing “substantial assistance.”
Affected Fights and Earnings
The claims center on fights under Mayweather’s 2012-2015 six-fight Showtime deal and related events, including:
- Canelo Álvarez
- Manny Pacquiao (estimated $220 million purse)
- Conor McGregor
Mayweather reportedly earned over $1.2 billion in total career purses, but alleges at least $340 million was misappropriated.
Causes of Action and Relief Sought
The complaint lists:
- Fraud
- Breach of fiduciary duty
- Conspiracy
- Related counts
Mayweather seeks:
- $340 million in compensatory damages
- An equal amount for lost investment opportunities
- Punitive damages
- Legal fees
- Forensic accounting costs
A jury trial has been requested.
Current Status
Update – February 7, 2026: Stephen Espinoza Responds to the Lawsuit
Former Showtime Sports president Stephen Espinoza has broken his silence on Floyd Mayweather Jr.’s $340 million lawsuit, addressing the allegations in a February 7, 2026 interview on the YouTube podcast Compas On The Beat.
Espinoza expressed disappointment and surprise, while strongly defending his professional reputation:
“I’m proud of my reputation. It’s one of integrity… and I’ve never done anything to hurt a fighter and short change a fighter.”
“I’m definitely disappointed and surprised, and I haven’t spoken to Floyd about it and it’s a mystery in many ways.”
“The lawsuit will take care of itself.”
Espinoza declined to elaborate further, deferring to the legal process.
Source:
Compas On The Beat YouTube Interview – February 7, 2026
Sources:
This is a developing story. Boxing Insider will provide updates as more information becomes available.
