Vital update – February 7, 2026: Former president of Showtime Sports Stephen Espinoza responded to allegations contained in Floyd Mayweather Jr.’s $340 million lawsuit.
In a February 7 podcast interview on YouTube Compass in rhythmEspinoza expressed surprise and disappointment, defending his integrity:
“I’m proud of my reputation. It’s a reputation for integrity… and I’ve never done anything to hurt a player and change him in a miniature period of time.”
“I’m definitely disappointed and surprised, I haven’t talked to Floyd about it and in many ways it’s a secret.”
“The lawsuit will resolve itself.”
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Interview with Compas On The Beat on YouTube – February 7, 2026
Espinoza declined to comment further, postponing the legal process. Showtime Networks has not provided any formal response.
Retired boxing legend Floyd Mayweather Jr. filed a 25-page lawsuit regarding February 4, 2026 (some reports cite February 3), in Los Angeles County Superior Court v Showtime Networks Inc. and former sports president Stephen Espinoza. The lawsuit accuses them of aiding and abetting a decades-long fraud organized by Mayweather’s former adviser. Al Haymon — who is not named as a defendant, reportedly for personal reasons.
At least that’s what Mayweather says $340 million fighting earnings were embezzled, some over $1.2 billion overall in professional portfolios.
Basic Misconduct Claims
The complaint describes A More than 15 years of ‘sophisticated financial fraud scheme’ including:
- Hidden accounts and unauthorized redirects — Showtime sent earnings to third-party accounts controlled by Haymon and associates (including Jeff Morris) rather than directly to Mayweather. Funds were then allegedly diverted using false labels such as “reimbursements,” “loan repayment” or “expenses” to Haymon.
- Using a slush fund — Unrelated expenses financed with big-ticket fight money, including a $20 million “reimbursement” falsely linked to the 2015 Andre Berto fight.
Hiding and changing records
Alleged attempts to hide the program include:
- Showing Mayweather only selected documents.
- Changing contract dates (e.g., erasing and rewriting, with notes such as “We need to discuss our a-“).
- Claims documentation was destroyed during the 2023 floods.
- Refusal to provide full financial documentation in 2024, citing limitation or unavailability.
Examples of incorrect payments
- Immense transfers (up to $15 million) unrelated to fight dates.
- Many years of delays in payments (e.g. the fight with Pacquiao).
- Using blockbuster earnings for non-combat expenses.
Showtime and Stephen Espinoza’s role
Showtime and Espinoza allegedly:
- Red flags ignored when hundreds of millions were transferred by third parties.
- Redirections made simple.
- He helped hide himself by withholding documentation.
Espinoza, who negotiated Mayweather’s six-fight contract in 2012, is accused of “substantial assistance.” The lawsuit claims that Showtime “effectively delivered the money owed to Floyd directly into Haymon’s hands.”
It’s about fights and earnings
The allegations focus on Mayweather’s era on Showtime, specifically his last seven fights, including:
- Canelo Alvarez
- Manny Pacquiao (purse worth approximately $220 million)
- Conor McGregor
- Others under a six-fight deal from 2012 to 2015
Reasons for action and aid sought
Claims include:
- Fraud
- Aiding and abetting breach of fiduciary duty
- Civil conspiracy
- Conversion
Mayweather is looking for:
- $340 million compensatory damages
- Additional compensation for lost opportunities
- Punitive damages
- Forensic accounting costs
- Legal fees
A jury trial is requested.
Current status
The case is at an early stage. No public reaction from Showtime or Espinoza beyond the podcast comments.
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