After getting sued by Floyd Mayweather, Showtime Networks Inc. has filed on its own claims against Mayweather Promotions, LLC, saying that if Showtime owes any money to Mayweather, the money should be reimbursed by Mayweather Promotions. The legal term for Shwotime's claims is indemnification, which means that one company (in this case Mayweather Promotions) has agreed to protect another (in this case, Showtime) from certain losses, damages, or legal claims. In simple terms, if a covered problem arises, the party providing indemnity is responsible for paying the costs or reimbursing the other party for the harm it suffers.
Mayweather began this lawsuit, filing a complaint against Showtime and Stephen Espinoza in California state court seeking to recover hundreds of millions of dollars in **allegedly** misappropriated funds and damages. The undefeated boxing legend claims he is the victim of a long-running and elaborate scheme of financial fraud, breaches of fiduciary duty, and conspiracy orchestrated by his former manager and advisor, Al Haymon, with the knowing and substantial participation and aid of Defendants Showtime Networks Inc. and Espinoza, who is Showtime’s former executive. Significantly, the lawsuit does not name Haymon as defendant. Mayweather says he was deprived of at least $340 million (and potentially far more when accounting for lost investment growth)—through a web of hidden accounts, unauthorized transactions, and deliberate concealment of financial records. The lawsuit was soon removed to federal court by Showtime.
Mayweather alleges that Showtime and Espinoza facilitated Haymon’s misconduct by diverting funds intended for Mayweather into accounts controlled by Haymon or his agents. When Mayweather sought more information, he says Showtime claimed that critical financial records were “lost” or inaccessible, and the network failed to provide transparency despite clear contractual obligations and repeated requests for accounting. In addition, Mayweather alleges that Showtime still owes him $20 million from a 2015 Andre Berto fight, a payout that was deducted from Mayweather’s purse for his fight against Manny Pacquiao.In its counterclaim, Showtime alleged that there is a “Master Agreement” between itself and Mayweather Promotions, dated February 22, 2013, which covered the promotion and presentation of up to six professional boxing matches featuring Mayweather. Showtime says there are three separate provisions for indemnification under the Agreement. Showtime also takes the position that Mayweather Promotions should pay its legal fees. “Even if Showtime is not found liable under any of Mayweather’s claims, Mayweather Promotions must still indemnify Showtime for the legal fees and other costs it has been forced to incur in the course of defending itself in this action.”
PRIOR BOXINGTALK COVERAGE
MAY 26, 2026 [The New York lawsuit]: For years, Floyd Mayweather Jr. told the world he was one of boxing's most successful businessmen. He even changed his nickname from "Pretty Boy Floyd" to "Money" and constantly reminded fans that he was as skilled at making money as he was at winning fights. Now, the multi-division champion claims that millions of dollars that belonged to him ended up somewhere else. In a lawsuit filed in New York state court, Mayweather alleges that a longtime trusted advisor orchestrated a years-long scheme that diverted money, real estate proceeds, business distributions, settlement funds, jewelry, and even aircraft-related assets away from him and into accounts controlled by others. The complaint seeks at least $175 million in damages, along with punitive damages and a full accounting of where the money went.
In the New York lawsuit, the undefeated boxing legend claims he is the victim of a long-running and elaborate scheme of financial fraud, breaches of fiduciary duty, and conspiracy orchestrated by his former manager and advisor, Al Haymon, with the knowing and substantial participation and aid of Defendants Showtime Networks Inc. and Showtime’s former executive, Stephen Espinoza. Significantly, the lawsuit did not name Haymon as defendant. In that lawsuit, Mayweather says he was deprived of at least $340 million (and potentially far more when accounting for lost investment growth)—through a web of hidden accounts, unauthorized transactions, and deliberate concealment of financial records. Add the two lawsuits together, and Mayweather claims half a billion dollars have been stolen from him!
The relationship at the center of the dispute stretches back years. Mayweather alleges that Ari Rechnitz became much more than a business contact, acting as an investment manager, real estate advisor, banking liaison, and trusted confidant in handling portions of the fighter's financial affairs. The complaint claims Mayweather relied heavily on Rechnitz's guidance and trusted him to manage transactions that involved tens of millions of dollars. The lawsuit paints a picture of a sprawling financial network involving real estate deals, investment vehicles, loans, and limited liability companies. At the heart of many of the allegations is a company called Frist Apex Ventures, LLC, which Mayweather claims became a repository for funds that should have gone to him.
The most eye-catching-- but not the most financially significant-- allegations involve Mayweather's famed jewelry collection. Mayweather alleges that jewelry with an asserted value of approximately $100 million was pledged to two Miami jewelry dealers in 2025. According to the lawsuit, in exchange for $100 million in jewelery, Mayweather only received back roughly $13 million. Mayweather claims he never received an accounting of what happened to the proceeds and alleges that a substantial portion of the jewelry remains in the dealers' possession. The filing further alleges that one dealer later threatened to begin liquidating the jewelry if payment was not received. According to the complaint, Rechnitz responded to that message by agreeing to do so on Mayweather's behalf.
Among Mayweather's biggest complaints is his claim that more than $15 million in funds involving SL Green Realty Corp. were transferred away from Mayweather without his authorization. According to the complaint, those proceeds belonged to Mayweather, yet were allegedly sent to Frist Apex Ventures at Rechnitz's direction.
The lawsuit also focuses on a Las Vegas property located at 9504 Kings Gate Court. According to the filing, a Nevada company was formed in early 2025 with Mayweather listed as its sole member. Weeks later, the property was refinanced for $8.2 million. The complaint alleges that more than $2.1 million in net refinance proceeds were transferred to Frist Apex Ventures without Mayweather's authorization.
Another allegation concerns a Gulfstream G-IV aircraft. Mayweather claims that in November 2025 he signed paperwork related to the sale of the aircraft at Rechnitz's direction, but that the purchaser's information was left blank and that he never received an accounting showing where the proceeds went. The complaint alleges that proceeds from the transaction were diverted elsewhere and that neither Mayweather nor his aviation company received any of the money.
The lawsuit also cites a January 1, 2026 email that allegedly directed 80 percent of certain Manhattan real estate distributions to Mayweather Promotions while sending the remaining 20 percent to Frist Apex Ventures. Mayweather claims the email demonstrates an ongoing diversion of funds.
Legally speaking, Mayweahter has named the folling as defendants: Ari Rechnitz (Mayweather's longtime investment and real-estate advisor); Joshua Frist (who allegedly participated in various transactions and communications); Frist Apex Ventures, LLC, a company that the allegedly received and held the funds Mayweather is seeking to recover); and David Seligson, who managed some of Mayweather's businesses and supposedly carried out fund transfers at Rechnitz's direction.
Mayweather asserts claims for fraud, breach of fiduciary duty, aiding and abetting breach of fiduciary duty, conversion, accounting, unjust enrichment, and the imposition of a constructive trust. In plain terms, Mayweather is alleging that trusted associates misrepresented transactions, concealed important information, improperly controlled his assets, and benefitted from money that should have belonged to him. It is important to note that these are allegations only. The lawsuit represents Mayweather's version of events, and the defendants will have an opportunity to respond in court.
Still, the filing offers a remarkable look into the financial world surrounding one of boxing's biggest stars. For a fighter whose career earnings have long been measured in the hundreds of millions of dollars, the dispute is not about a single fight purse or promotional contract. Instead, it is a battle over what Mayweather claims was a years-long pattern of unauthorized transfers involving some of the most valuable assets associated with his business empire.
In the earlier of the two lawsuits, TMZ Sports reported that Mayweather sued Showtime and its former executive, Stephen Espinoza for $340 million. The lawsuit alleges that for Mayweather's most lucrative fights, including those against Manny Pacquiao and Conor McGregor, Showtime and Espinoza directed payments to accounts controlled by Mayweather's advisor Al Haymon, instead of to Mayweather himself. What is suspicious about the lawsuit is that Haymon himself was not sued. Should the lawsuit proceed, Haymon would certainly, at the very least, be deposed as a witness by Showtime, if not outright brought into the lawsuit as a third-party defendant.
Whether the allegations ultimately hold up remains to be seen. But with at least $175 million at stake, the two lawsuits will be closely watched to determine Mayweather's post-boxing legacy.
