Last week, the boxing world was surprised when it became public that Floyd Mayweather, once the sport’s biggest superstar, had filed a lawsuit in the Superior Court of Los Angeles County against former SHOWTIME boss Stephen Espinoza and, by extension, SHOWTIME. The lawsuit levied serious accusations against the defendants and his former ‘Godfather’ and manager, Al Haymon. The breaches levied include accusing Espinoza and SHOWTIME of aiding and abetting a breach of fiduciary duty, civil conspiracy to commit fraud, conversion, and unjust enrichment. Having read the lawsuit in its entirety, there is an abundance of issues to unpack and questions raised, but some questions warranted their own discussion and are outlined below.
The lawsuit centres on missing payments and expenses emanating from Mayweather vs. Manny Pacquiao, Mayweather vs. Andre Berto, and to a lesser extent, Mayweather vs. Conor McGregor. Conspicuously absent is the Mayweather vs. Logan Paul exhibition, which took place in June 2021. The point is raised because, if Mayweather is alleging financial impropriety by Haymon and Co. between 2015 and 2017, does that mean all sums and expenses for the Paul exhibition were properly accounted for? SHOWTIME aired the Paul exhibition on PPV, a resounding success that generated 1 million PPV buys and around $80 million. Espinoza oversaw this production too, but if the claimant is not raising any questions about this event, then it must be asked: either something was done right for the Paul fight to satisfy all parties, or somebody is perhaps in Mayweather’s ear pushing ulterior motives.
It is no secret that, despite being a financial juggernaut in his heyday and often preaching about smart investments, Mayweather has found himself embroiled in several extremely poor financial predicaments. Rumours have run amok about his excessive gambling habits. He allegedly owes $330,000 in unpaid rent as of February 2026. A deep dive by Business Insider in December 2025 discovered that Mayweather’s properties are no longer paid for out of his own pockets, as millions in mortgages have been placed on them. He has also faced a string of lawsuits and liens claiming he owes money for a Mercedes-Maybach G-Wagon, jet fuel, and garbage collection at his Las Vegas mansion.
It is not as though Mayweather is oblivious to this either. Clause 34 of his filed lawsuit states, “The revelation that he was defrauded out of hundreds of millions—and the resultant (false) rumors that he was ‘broke’ or stuck overseas due to money issues—have caused him reputational harm and mental anguish.” Yet his financial problems go back beyond this lawsuit. Business Insider also reported that ‘in 2017, Mayweather paid the IRS $22.2 million in back taxes, records show. In 2023, Mayweather settled with the IRS to pay $5.5 million in back taxes and another $1.1 million in penalties, according to a settlement filed in US Tax Court.’ A former close member of the Money Team, Tasha Robinson-White, published a book in 2014 titled Right Hand to the Champ: 13 Lessons that Changed My Life, which details several of Mayweather’s troubles that originated long before the SHOWTIME deal was ever inked.
So why now? Does Team Mayweather feel they have amassed enough compelling evidence over the last few years to present a case for financial misuse by his former partners? Is Mayweather attempting to recover any remaining sums he feels have not been accounted to him? The lawsuit heavily alleges Haymon effectively hiding Mayweather’s money from him, not disclosing the exact amounts when requested, taking a cut or advance without explanation, putting money aside into his own Haymon ventures, spending said money on unagreed expenses and depositing money into an account at First Security Bank of Nevada in the name of Jeff Morris, a tax counsel who Mayweather claims he never personally hired. We do know that Haymon does indeed set aside a chunk of a fighter’s earnings in a savings account to prevent some of his fighters from spending incessantly and going broke. The most high-profile example of this is Adrien Broner, who has attested publicly that Haymon’s method of doing this has prevented ‘The Problem’ from financial paucity and protected him from reckless spending. Broner himself went on Instagram a few days ago and stated, “I would never take legal action against Al Haymon … I’m a loyal individual, and I know he did things for me that nobody would do”.
Perhaps, if there is money that Haymon has set aside for Mayweather, Haymon was also wary of Mayweather’s reckless spending habits and did not want to see his most prized success end up broke, as his brother Bobby Haymon once did? What if this was somehow Haymon’s way of protecting Mayweather from himself, but Mayweather is unable to see this? Tasha Robinson-White once told Madamenoire that “Oftentimes behind closed doors, Floyd and I were at each other’s throats because I told him the truth whether he liked it or not. I had to be honest with him, and based on my experience with lots of celebrities or people that are highly influenced, they don’t want to take your advice. So, you know, that was challenging because he would hear the truth from me and then turn around and do whatever, and it would turn around and bite him. So, I don’t know if he would admit it, but I think he knew I was looking out for him.” For the longest time, Mayweather credited Haymon with having his best interests in mind at all times, even during the absence of a written contract between the pair’s 15-year-plus bond. But with Haymon out of the picture, who is looking after Mayweather’s interests now?
Clause 24 of the lawsuit states ‘Moreover, following Haymon’s suffering a medical issue (a stroke) in late 2023, there was a sudden exodus of key members of Mayweather’s camp: five of Mayweather’s long-time lawyers abruptly “retired” or withdrew from representation within a three-month span.’ It was never officially confirmed, but rumours did run amok that Haymon was suffering from serious health issues, which necessitated him stepping back from boxing. Now, it has become transparent per the wording that Haymon suffered a stroke in late 2023, confirming he did suffer from a very serious and debilitating medical issue. Haymon turns 71 this year, and nobody except his close circle knows how his recovery is going. The timing of his illness was terrible, given PBC’s freshly inked deal with Amazon Prime, which was in its embryonic stages. As of today, PBC on Amazon Prime hasn’t really gained traction, delivering boxing at a rate substantially lower than the 12-14 cards per year they promised. The vast majority of their cards have been PPV offerings, averaging $60 per card.
The brand’s main star, Gervonta Davis, spent the last few years expressing severe disinterest in boxing (including the cancellation of a Jake Paul exhibition) and is presently mired in legal issues. The core peak of the boxers around whom PBC was built when it first launched in 2015 is largely retired, heavily inactive, or beyond washed. It’s evident to say that without a functioning Haymon, the PBC ship struggles to float.
That said, what happens to PBC in a few years? Does it slowly die out, as its fighters are shipped in single file to other promotions and networks? Does Haymon sell the entire venture off to an interested party, such as Zuffa Boxing or Riyadh Season? Both of those would buy the PBC stable in a heartbeat, and we’ve seen Turki Alalshikh take PBC fighters over to Riyadh multiple times in the last few years. Or does Haymon launch a remarkable comeback once he has recovered? What if the money Mayweather is alleging was hidden by Haymon, was used by Haymon/SHOWTIME to help fund contracts and offers for other fighters, such as the 2022 offer by PBC to Canelo Alvarez to fight Jermell Charlo for a $45 million guarantee followed by a $55 million guarantee to fight either Errol Spence at a catch weight of 164 pounds or David Benavidez at the 168-pound limit?
One of the more entertaining points in the document was clause 29, which reads as follows: “In December 2023, reports emerged (via boxing insider Rick Glaser) that Espinoza had been hired by Al Haymon to help run PBC’s new broadcasting deal with Amazon Prime. In other words, Espinoza went from ostensibly representing the interests of a broadcast partner (Showtime) to being on Haymon’s payroll”. Rick Glaser is a polarising figure within boxing circles. He has been involved in boxing as an agent, broker, and consultant for a few decades and has worked with some of the sport’s highest-ranking officials, reportedly speaking to at least 40 senior figures within boxing per week. Yet he also has a legion of detractors, deriding him as a ‘caricature’ for his controversial opinions, with the last few years consisting of him taking aim at PBC and highlighting their decline. I reached out to Glaser and asked for his thoughts on being named directly in the legal documents. Glaser told FightsATW, “Yeah, I said it, and I stand by what I said today,” meaning he reported Espinoza’s new role correctly.
So was Rick Glaser right all along – and the rest of the world wrong? To what extent did Mayweather and his team know of Glaser’s reliability, especially when Glaser’s reputation (online at least) has seen him become the focal point of mockery? Glaser often noted that the PPV buys for several events over the years had been grossly inflated, with his sources reporting that the events sold far fewer tickets than reported. If true, then were Glaser’s PPV numbers right all along and everyone else wrong?
Clause 33, citing ‘Mayweather’s ability to generate such income again (through fighting) is limited, as he is now semi-retired and 48 years old.’ was also interesting, given Mayweather describes himself as ‘semi-retired’. Not ‘retired from active competition’. Not ‘retired from competitive boxing’. Not ‘retired and only engaging in exhibition bouts.’ Just ‘semi-retired’. The glorious “0” in Mayweather’s pristine record means everything to him, but don’t be surprised if, in the midst of his ongoing financial woes, he comes back out of retirement to box once more.
Whether Mayweather likes it or not, his “0” holds significant financial equity and effectively acts as a golden ticket. Society will pay to see him risk his undefeated record. Can he stay unbeaten at 48, or will he finally lose – that would be the narrative. Heck, it was only in October 2025 that the Ring Magazine reported Netflix was interested in staging Mayweather vs. Pacquiao II, 11 years after their record-shattering original. There were also substantial rumblings that Mayweather would box Mike Tyson in an exhibition sometime this year. I was at an event with Tyson in December, and he spoke candidly about boxing Mayweather in an exhibition and believed it was a done deal. Don’t be surprised then if, in the absolute worst-case circumstance, Alalshikh makes an offer for both Mayweather and Terence Crawford to leave their respective retirements and box each other in a clash of generational greats. Boxing is a cutthroat business, and you rarely see fighters leave millions on the table.
Which leads me to finally ask?
Et tu Richard?
Mayweather’s relationship with SHOWTIME, Espinoza, and Haymon isn’t the only casualty. In June 2024, he announced that, after two decades of immense success, his working relationship with Leonard Ellerbe, the now-former CEO of Mayweather Promotions, had been terminated. Richard Schaefer subsequently replaced Ellerbe, and the departing statement elaborated that the plan was to ‘expand our presence by establishing Mayweather Headquarters in Los Angeles.’
At one point, Schaefer was regarded as one of the sport’s most influential figures. He was the CEO of Golden Boy Promotions, and when Haymon helped Mayweather break free of his Top Rank contract, it was Schaefer, along with Haymon, who helped facilitate the signing of Mayweather to Golden Boy Promotions. This was the move that put Mayweather on the path to superstardom, as his own promotional company, Mayweather Promotions, was created, and the long-coveted superfight with Oscar de la Hoya finally came to fruition. De la Hoya is regarded as the barrier of entry for Schaefer to enter into boxing, as their relationship started in the early 2000’s. Whilst his then close friend Oscar was the face of Golden Boy, Schaefer was the brain.
When the ‘Golden Boy’ spent the mid-2010’s oscillating in and out of rehab, Schaefer was at the forefront of scheming with Haymon to transplant the vast majority of the Golden Boy stable from HBO to rivals SHOWTIME. They were largely successful, as Schaefer was able to successfully engineer a transfer for several of Haymon’s fighters, such as Keith Thurman, Errol Spence Jr, Danny Garcia, Peter Quillin, Deontay Wilder, Adrien Broner, Shawn Porter, Leo Santa Cruz, Abner Mares and Danny Jacobs, with Canelo Alvarez the only major name who remained at HBO/Golden Boy. The majority of these talents were either pre-prime or entering their prime, champions in talent-rich divisions, and from backgrounds in the two biggest boxing audiences – American and Mexican.
This set the platform for SHOWTIME to enjoy perhaps its greatest era ever, especially in terms of consistency, but the nature of what had transpired damaged Schaefer’s reputation for good. By going behind Oscar’s back when he was at a personal low point and engaging in transfers without his permission, an enraged Golden Boy filed a lawsuit against Haymon and Schaefer, and a settlement was reached in January 2015. This is how Dan Rafael of ESPN reported it –
As part of the deal, multiple sources said De La Hoya also cut ties with the numerous top fighters he had been promoting from the stable of powerful adviser/manager Al Haymon. Schaefer resigned in June after a decade in charge as the only chief executive in company history, after which De La Hoya filed the arbitration accusing him of breach of fiduciary duty to the company, which Schaefer has denied.
The central issue was that under Schaefer’s watch many of the promotional contracts Golden Boy had with Haymon’s fighters expired and were not renewed, leaving Golden Boy in a vulnerable position. Golden Boy continued to put Haymon’s fighters on high-profile cards, but without having nearly as much say-so over opponents or financial details had they had contracts.
As part of the settlement, Schaefer, whom Golden Boy claimed was still under an employment contract through March 2018, will be barred from promoting for an unspecified length of time, according to one of the sources. It is between one and two years, according to the source.
SHOWTIME, Haymon, and Espinoza continued to experience tremendous success up until SHOWTIME closed its boxing doors. Schaefer spent the same amount of time in one misfiring venture after another. He set up his own promotional company, Ringstar Sports, which merged with David Haye’s Hayemaker Promotions in January 2017 to form Hayemaker Ringstar. He then shifted to working with the Sauerland Brothers to set up the World Boxing Super Series tournament, which lasted until 2020. In 2021, he launched Probellum, another venture that quickly dissolved after it was revealed that Daniel Kinahan’s fingerprints were all over Probellum. In 2023, he joined Anthem Sports Group and, as of late 2025, has been in Canelo’s entourage as his business manager.
As we can see, Schaefer was intrinsically connected to the Haymon/Mayweather nexus for at least a decade. So when point 27 of the lawsuit read “As Mayweather’s distribution partner, Showtime had contractual duties to provide an accounting of event revenues and expenses. However, when Mayweather’s new management team (led by Richard Schaefer) in late 2024 requested detailed breakdowns for the Pacquiao and McGregor fights, Showtime was unable or unwilling to produce them.” This raised several eyebrows. The wording indicates Schaefer has been leading the charge for this lawsuit on behalf of Mayweather. It was Schaefer who knifed a vulnerable Oscar and HBO in the back to appease Haymon. Over a decade later, it seems he has now knifed a vulnerable Haymon, Espinoza, and SHOWTIME in the back to appease an also vulnerable Mayweather.
Schaefer is indebted to Haymon as much as Mayweather is. If it were not for Haymon and his deep roster of fighters, his involvement, and his management, Schaefer would never have enjoyed the success he did, especially between 2012 and 2014. So then, if Schaefer is leading the charge and is the braintrust of Mayweather’s new management team, then why now? And why against Haymon, Espinoza, and SHOWTIME? Is this a ploy by Schaefer, sensing blood and knowing Haymon is vulnerable, to drive Haymon and PBC out of boxing forever? Is this part of an elaborate plan with Mayweather to siphon Haymon for whatever funds he has left? How much does Mayweather really know of this, and why would he place his trust in someone whose reputation in boxing had already been damaged? Could Haymon have seen this coming? Given that Canelo is close with Schaefer and has had previous dealings with SHOWTIME, is a Canelo lawsuit against Haymon/Espinoza/SHOWTIME forthcoming in the future?
The questions in this piece were intended to encourage a thought-provoking discussion by drawing as many inferences and theories as possible using the present facts with contextual logic, and to allow the reader to come to their own conclusions. Ultimately, what the actual truth is and what will be decided, whether before a judge and jury or out of court settlement, will be something that is determined in the future, especially given that a third of a billion dollars is a lot of money to claim for. Following the breaking news, Stephen Espizona told Compas on the Beat stated that he had not yet read the filed lawsuit but was “proud of my reputation, it’s one of integrity, and I’ve never done anything to make sure that a fighter got less than every penny he deserved”. It is conclusively a sad ending to a glorious relationship and friendship that once defined an era.
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