Floyd Mayweather’s financial situation is back in the spotlight after the boxing legend filed a $175 million fraud lawsuit against former colleagues while continuing to pursue multiple comeback fights.
How first reported by TMZMayweather filed a lawsuit in Fresh York accusing former associate Jona Rechnitz, investment firm Frist Apex Ventures, Ayal Frist and lawyer Alexander Seligson of orchestrating what Floyd describes as a multi-year scheme involving unauthorized transfers, fraudulent investments and missing luxury assets.
Mayweather’s legal team alleges that millions of dollars were diverted through business entities linked to Rechnitz and Frist, including real estate proceeds, jewelry transactions and the refinancing of several properties.
Among the most eye-catching claims are allegations that Mayweather’s jewelry worth about $100 million was transferred to jewelers for only about $13 million, while Floyd also claims that money tied to the sale of his Gulfstream jet disappeared without explanation.
The lawsuit also alleges that Mayweather contributed $7.5 million to an investment that never materialized and millions more were transferred without his consent.
Mayweather’s attorney, Leo Jacobs, stated: “The conduct alleged in this letter – including the diversion of settlement proceeds, refinancing of proceeds, and repeated distributions of properties to accounts controlled by Jona Rechnitz through Frist Apex Ventures – requires full forensic accounting.
“We look forward to obtaining this settlement and recovering every dollar to which our client is entitled.”
Floyd Mayweather lawsuit
The lawsuit was filed shortly after Mayweather publicly attacked Rechnitz on social media.
“Liar, thief, rat and snake,” Floyd wrote.
“Jona Rechnitz is the worst person to ever walk this planet.”
The accusations added another chapter to a confused twelve months for Mayweather.
Mayweather’s past year has been a mix of financial rumors and comeback plans that stalled as his previously quieter life flared up again even as he neared 50.
Several fights have fizzled out, been delayed or simply didn’t happen as Mayweather now has an incredible three fights in the next four months.
Is this a sign of potential financial problems?
This was a question many people were asking before Mayweather began filing lawsuits, which apparently fueled speculation about his finances.
The fight for Mayweather’s return
But it’s not like Mayweather spent all his money. As previously reported, the five-division champion claims he was defrauded by a combination of his former television network Showtime and Stephen Espinoza and former partners and business associates.
Mayweather tries not to portray this as his fault, but it’s becoming increasingly hard for some to accept that Floyd ultimately chose the people he worked with and surrounded himself with.
How it will all play out is anyone’s guess, and whether the fights against Mike Zambidis, Mike Tyson and Manny Pacquiao will take place in that order is still uncertain.
Despite the mounting legal drama, Mayweather continues to post a mix of training materials and legal updates on social media less than a month before he is scheduled to fight Zambidis in Greece.
The event remains ongoing for now as Floyd prepares for another comeback and legal pressure continues to mount around him.
About the Author
Phil Jay is the editor-in-chief of World Boxing News (WBN) and a boxing veteran with over 15 years of experience. Read the full biography.
Otto Wallin, the heavyweight who left Tyson Fury covered in blood and was later stopped by Anthony Joshua, suffered another crushing setback when Vladyslav Sirenko knocked him out cold in the final round of their Zuffa Boxing clash in New York.
Wallin was trailing on all three scorecards before Sirenko landed a devastating right hand followed by a left hook in the closing seconds of the tenth and final round.
The Swedish southpaw crashed to the canvas and remained down long enough for a stretcher to be brought into the ring, although he later sat up and responded to medical staff.
From Tyson Fury Scare To Another Knockout
Wallin’s career has become one of the heavyweight division’s biggest “what if” stories.
In 2019, he came within touching distance of ending Tyson Fury’s unbeaten record after opening a horrific cut above the Briton’s right eye that required 47 stitches. Many believed the contest could have been stopped before Fury battled through to win on points.
Speaking exclusively to World Boxing News three years later, Wallin insisted the fight would have been waved off had the roles been reversed.
“I think the cuts that he had were very bad. He had 47 stitches after the fight. If I had those cuts, the doctors would have stopped the fight, for sure,” Wallin told WBN.
Despite that disappointment, Wallin rebuilt his career by defeating current WBA heavyweight champion Murat Gassiev before earning high-profile clashes with Joshua and Derek Chisora.
His defeat to Joshua ended in a fifth-round stoppage. This latest loss to Sirenko marks the second knockout defeat of Wallin’s career and leaves the 35-year-old facing the toughest questions yet over his future.
Zuffa Boxing
Vladyslav Sirenko Scores Career-Best Win
For Sirenko, the victory represented the biggest win of his professional career.
The Ukrainian improved to 23-1 with 20 knockouts by stopping one of the heavyweight division’s most respected contenders after bouncing back from last year’s defeat to Solomon Dacres.
Wallin once looked destined for another world title opportunity after pushing Fury to the brink and defeating future WBA heavyweight champion Murat Gassiev.
Two knockout defeats later, that dream looks further away than ever.
About the Author
Phil Jay is the Editor-in-Chief of World Boxing News (WBN), a BWAA-acknowledged boxing news website founded in 2010. A veteran boxing reporter with 16 years of experience, he has interviewed world champions, broken international exclusives, and reported ringside from major events. His work is published worldwide through WBN and distributed on platforms including Apple News.
Terence Crawford believes one man will follow in his footsteps and retire as an unbeaten world champion, essentially becoming a generational great in the process.
‘Bud’ became not only a world champion but a three-division undisputed king, ending his career with a legacy-defining unanimous decision triumph over Canelo Alvarez.
Even before that, Crawford was considered an elite pound-for-pound operator for over a decade, with many believing his most complete performance came against Errol Spence Jr in 2023.
But while the American is perhaps in a class of his own, he nonetheless believes that four-division world champion Shakur Stevenson can achieve a similar degree of success.
The 29-year-old claimed a career-best victory in January, losing just one round as he dethroned Teofimo Lopez with a masterful unanimous decision victory.
Having now signed with Dana White’s Zuffa Boxing, though, it remains to be seen whether he defends his WBO super-lightweight title or pursues opportunities elsewhere.
Either way, Crawford has told Fight Hub TV that Stevenson has the mental and physical attributes to remain unbeaten at the highest level.
“I think Shakur [will take over]for sure, Shakur hands down. I think, given the opportunity, he’s going to show the world that he’s the best. His mental, his defense [sets him apart]takes his craft serious. He’s the type of the fighter that you gotta pull out the gym. [Is he beatable?] Not at all. Everybody [is] beatable, but I don’t see nobody beating him.”
Since inking a promotional deal with Zuffa, Stevenson has named Devin Haney and Gervonta Davis as two potential opponents who would cement his greatness.
The slick southpaw could therefore compete anywhere between lightweight and 147lbs, depending on which division offers the most realistic opportunities.
Oleksandr Usyk has shared his reaction to Anthony Joshua‘s dramatic knockout victory against Kristian Prenga.
Usyk nearly suffered his own shock defeat in May when he was pushed to the limit by kickboxing star Rico Verhoevenand two months on it was nrw teammate Joshua’s turn to come close to a massive upset loss that would have stunned the heavyweight division.
The Brit was dropped twice by massive underdog Prenga in the opening round of their clash in Jeddah, Saudi Arabia on Saturday, but ‘AJ’ managed to recover and record a big knockdown of his own in the second round that resulted in the stoppage victory.
Joshua and Usyk now train together, having famously had two battles for the unified world heavyweight title in 2021 and 2022, and the Ukrainian has had his say on his stablemate’s victory over Prenga.
Speaking to TalkSporttwo-time undisputed champion Usyk praised Joshua, insisting ‘AJ is back’ before predicting that Joshua will now claim a knockout win over long-term rival Tyson Fury in his next bout.
“Anthony Joshua is next undisputed champion. First round it’s a test but AJ is back.
It’s boxing, [the] big upper cut is good, it’s a knockdown. AJ [come] back and win.
“Greedy Belly [Fury] will speak now and say weak chin, Greedy Belly get out. AJ wins [against Fury], [he will] knock him out.”
Fury was victorious on Friday as he earned a seventh round retirement win against Mariusz Wach in Thailand, paving the way for the showdown against Joshua later this year.