Floyd Mayweather Promotions claimed they signed a deal with a guaranteed amount of $110 million but the first scheduled payment was never made.
The drama surrounding Floyd Mayweather Jr.’s bout with Logan Paul next month continues after the boxing legend filed a $122.6 million lawsuit against an entertainment company for failing to bring the fight to Dubai, according to a report.
Mayweather Promotions is alleging in a lawsuit obtained by TMZ Sports this week that PAC Entertainment Worldwide failed to make good on their pitch that they could host the fight in Dubai, citing their “numerous business contacts” and “financial wherewithal and capability to host a fight of this magnitude.”
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According to the documents, the company “presented financial projections estimating the fight could generate guaranteed amounts for each participant, plus result in the promoters earning more than $100 million in profits after covering all purses and expenses.”
Mayweather Promotions claimed they signed a deal with a guaranteed amount of $110 million but when the first payment of $30 million was due in March, PAC didn’t deliver.
Mayweather’s camp was able to back out and eventually get a deal with Fanmio Boxing for the June 6 exhibition match that will take place at the Hardrock Stadium in Miami.
They are alleging PAC was in breach of contact is demanding at least $122.6 million, according to the report.
Mayweather, who is 50-0 in his professional career and four years ago took on mixed martial arts champ Conor McGregor, is going to square off against YouTube star Logan Paul. The match will be televised on Showtime pay-per-view.
Paul told TMZ Sports on Monday he and his brother were adding additional security after Mayweather allegedly threatened to “kill” them during their pre-fight press conference after a fight broke out. Logan Paul said he wasn’t taking any chances even if the threat was empty.