AceShowbiz - Floyd Mayweather, Jr. wants his money back. The legendary boxer, who was set to fight Logan Paul in the United Arab Emirates, has launched a $120 million lawsuit against PAC Entertainment Worldwide for failing to host the fight in Dubai.
The 44-year-old's company Mayweather Promotions, as reported by TMZ, sued PAC for allegedly breaching its contract after agreeing to stage the fight in Dubai on an undisclosed date in 2021. Mayweather Promotion said PAC claimed to have "numerous business contacts in Dubai" and "had the financial wherewithal and capability to host a fight of this magnitude."
Mayweather Promotions also noted that PAC "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." Feeling impressed with the claims, the former finally signed a deal which required PAC to pay a minimum guaranteed amount of $110 million on a "prescribed payment schedule."
The initial payment of $30 million was supposed to be paid on March 25, 2021. Unfortunately, PAC failed to make the installment. It led Mayweather Promotions to terminate the deal and was forced to find another venue and date for Floyd's exhibition match with the YouTube personality. It now seeks at least $122.6 million in damages.
Floyd and Logan's fight, however, has been set at Hard Rock Stadium in Miami on June 6. Announcing the match, the five-time world champion shared a promo video on Instagram and captioned it, "JUNE 6, 2021!!!! #MIAMI. Me and Logan Paul will be fighting at the Hard Rock Stadium. @mayweatherpromotions @fanmio and @showtimeboxing have come together to bring an epic Event!!!"
Also making public the news was the older brother of Jake Paul. "June 6 I break the simulation @mayweatherpromotions @fanmio and @showtimeboxing have come together to make boxing history!!! PPV on sale NOW @Fanmio LINK IN BIO," he penned on his Instagram page.