For years, Floyd Mayweather has been telling the world that he is the smartest businessman in boxing. Now, with another former colleague publicly questioning his finances, Mayweather’s “Money” image is coming under renewed scrutiny.
The undefeated five-weight world champion is currently pursuing a $175 million lawsuit against former manager Jon Rechnitz, alleging misconduct related to jewelry deals, loans and the sale of a private jet.
But Rechnitz is now struggling.
In an interview with YouTuber Spencer Cornelia, Rechnitz rejected Mayweather’s allegations and stated that he had texts, photos, videos and documentation regarding Mayweather’s jewelry rentals and plane sales that told a completely different story.
Proof or posturing?
According to Rechnitz, there is evidence that Mayweather was aware of several deals currently at the center of the legal dispute.
“I don’t want to settle this issue through the media, nor do I want to publicly shame Floyd,” Rechnitz told Cornelia.
“It is unhappy that Floyd wasted his money. I have written him many letters regarding his spending habits, which are documented. I have had many conversations with him about slowing down his spending, but unfortunately it has caught up with him and now he is looking for others to blame.”
Rechnitz went further, arguing that Mayweather repeatedly attacked others when financial disputes arose.
“First he blamed Al Haymon, and now he blames me. He sued Showtime for $340 million, he sued Business Insider for $100 million, and now he’s suing me for $175 million. He’s unsustainable.”
These comments came just weeks after former Showtime Sports chief Stephen Espinoza publicly cast doubt on Mayweather’s separate $340 million claim against the broadcaster.
Questions about Mayweather’s money
Over the years, stories have come to lithe questioning Mayweather’s finances, even though the boxer earned hundreds of millions of dollars during one of the most lucrative careers in sports history.
The difference is that Mayweather has always considered himself an exception.
While fighters like Adrien Broner openly admitted to money-related mistakes, Mayweather built an entire brand around financial discipline, entrepreneurship and sharp investments.
If even one of his largest fighting portfolios had been placed in a high-interest account, the returns alone could have generated more than $200,000 a week without touching the original money.
Time will tell whether Rechnitz’s claims ultimately hold up in court. Mayweather strongly disputes his former manager’s version of events and is seeking significant compensation in the lawsuit.
But time is significant.
Questions continue to arise over Mayweather’s finances, while his proposed rematch with Manny Pacquiao remains in limbo, Mike Tyson’s exhibition continues to be postponed and his scheduled fight with Mike Zambidis looms later this month.
Where did the money go?
For a fighter who spent years convincing fans that no one was better with money than “Money” Mayweather, the conversation is increasingly focused on where the money went.
With Showtime’s $340 million lawsuit, a $175 million lawsuit against his former manager, Pacquiao’s delayed rematch, and modern financial allegations now circulating in the public eye, attention has shifted from Floyd’s next fight back to Floyd’s finances.
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. Since 2010, he has been interviewing world champions, breaking down international titles exclusively and reporting from the ring. His work is distributed on major platforms including Apple News. Read the full biography.
Moses Itauma was given a direct path to the IBF heavyweight title, leaving Queensberry with one obvious question: Why risk it all against Filip Hrgovic?
In a statement sent to World Boxing News, the International Boxing Federation confirmed that it had received official notice on June 26 of Oleksandr Usyk’s resignation as IBF heavyweight champion.
Under championship rules, the governing body ordered top-ranked Frank Sanchez to negotiate with number three contender Moses Itauma for the vacant title. Both have until July 29 to reach an agreement.
Immediately, Hrgovic became an unnecessary obstacle to Itauma’s path to the world title.
When Itauma agreed to face Hrgovic on August 29 at The O2 in London, it was the perfect step for one of boxing’s brightest adolescent heavyweights.
This equation has completely changed.
IBF pays tribute to Usyk
In a statement provided to WBN, the IBF also confirmed Usyk’s reign before confirming the order.
“Over the course of his distinguished career, Usyk has established himself as one of the sport’s elite competitors, and the IBF is honored to recognize him as one of its world champions.
“His talent and commitment to excellence have made a lasting impact on boxing and will continue to inspire future generations of fighters.
“The IBF wishes Oleksandr Usyk continued success in his future endeavors.”
Only after paying tribute to the former champion did the IBF officially order Sanchez and Itauma to negotiate for the vacant world title.
This is an opportunity that many contenders have been chasing for years. Itauma immediately received this opportunity.
Hrgović’s fight no longer makes sense
When Queensberry announced the fight with Hrgovic, promoter Frank Warren described it as a “litmus test” that Itauma was ready for, while DAZN described it as a key fight with world title implications.
These consequences have now become a reality.
No one doubts Itauma’s willingness to fight anyone. He signed a contract with Hrgovic before the world title unexpectedly landed on the table. This is a completely different situation.
Hrgovic remains one of the most perilous heavyweight contenders despite suffering only one loss to Daniel Dubois. Since then, the Croatian has regained momentum with victories over Joe Joyce, David Adeleye and Dave Allen, which put him back among the top contenders in the division.
If an agreement can be reached, the obvious solution would be to replace Hrgović with Sanchez on August 29 in exchange for the vacant IBF heavyweight title.
As compensation, Hrgovic could get the first shot at the recent champion if Itauma defeats Sanchez.
Whether this proves possible depends on whether all involved are willing to restructure the contracts already in place.
The heavyweight story still beckons
The change would also support Itauma in its historic mission, which has already missed one goal.
Itauma’s dream of breaking Mike Tyson’s record as the youngest heavyweight champion is gone, but another goal remains within reach.
If the 21-year-old wins the vacant IBF title before October, he will overtake Floyd Patterson to become the second-youngest heavyweight champion in history.
If he waits until the match against Hrgovic, this chance will be gone forever.
Queensberry matched Itauma with Hrgovic because it seemed like the quickest path to a chance at the championship.
The IBF has now given them an even faster fight.
Unless Hrgovic’s contract can no longer be salvaged, Queensberry should exhaust all options to hire Sanchez instead.
The IBF unexpectedly gave Itauma a world title shot and a chance to become the second-youngest heavyweight champion in history.
It would be arduous to justify giving up this opportunity in favor of unnecessary risk.
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.
The former world champion claims Lennox Lewis once admitted he should have retired after three defeats in his professional career.
“The Lion” is considered one of the greatest heavyweights of all time. He retired in 2003 after avenging his only two losses to Oliver McCall and Hasim Rahman.
However, later that year in 1999, Lewis managed to become the undisputed heavyweight champion after winning by unanimous decision, maintaining his lineal status until his retirement following a sixth-round victory over Vitali Klitschko.
However, already in 1996, many believed that the Briton should have suffered another defeat, this time to Ray Mercer, who had briefly held the WBO title in 1991.
The American eventually vacated the belt and was defeated by Larry Holmes the following year before losing a 10-round unanimous decision to Holyfield in 1995.
“Merciless” then faced Lewis in a battle between two Olympic gold medalists, this time suffering a highly controversial defeat by a 10-round majority.
I’m talking to James SlaterMercer insisted that even Lewis doubted he deserved to win their competition.
“Yeah, I won that fight, man. He admitted it to me. He knows, a fighter knows. I won that fight. He told me, ‘I know you’re going to win.’ I told him, ‘Where’s my half of your check!’
“He said OK. Every time I see him, I tell him I’m still waiting! They were preparing him for the fight [Mike] Tyson. That’s what happened and that’s why they gave him the win.
As it happened, Lewis didn’t face Mike Tyson until 2002, when he secured victory after the eighth round.
Instead, after the controversy with Mercer, there was a rematch with McCall, whom he stopped for the WBC title.
As announced by the promoters, Moses Itauma will face Filip Hrgovic at The O2 in London on Saturday, August 29, in a heavyweight fight scheduled to be broadcast live on DAZN on pay-per-view.
Itauma, 21, is undefeated at 14-0, has 12 knockouts and holds the WBO Intercontinental, WBA International and Commonwealth titles. His last fight was in March, when he defeated American Jermaine Franklin in the fifth round at the Co-op Live gala in Manchester. This fight was his longest since 2023; several of his recent wins have come in the opening round, including stoppages of Dillian Whyte and Demsey McKean.
Hrgovic, 34, of Croatia, has a record of 20-1, 15 knockouts and a bronze medal at the 2016 Olympics. He previously held first place in the IBF ranking. In May he stopped Dave Allen in the third round at Doncasterand his third victory in a row. The escape came after his defeat to Daniel Dubois in June 2024, the only defeat of his career, which saw him overtake David Adeleye and Joe Joyce.
Hrgovic is the most experienced opponent Itauma has faced as a professional. He was stopped once in 21 fights and faced several world-class heavyweights.
“This has all the hallmarks of a classic heavyweight showdown and we were determined to see it through to the end,” said promoter Frank Warren. “This fight is the litmus test that Moses is ready for and it is the one he wanted. Filip believes it will be too much, too soon for the adolescent star. On August 29 at The O2 we will find out what will be another amazing night for British boxing.”
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