While he announced a professional comeback two months ago, it’s been far from smooth for Floyd Mayweather Jr.
Headlines were already buzzing with reports about matchups, including the exhibition against Mike Tyson and the rematch with Manny Pacquiao facing obstacles. At the same time, reports about Floyd Mayweather‘s money troubles and lawsuits added another layer to the story. Amid all that, a new update now reveals he has dropped a $100 million lawsuit against a leading publication.
“The $100 million defamation fight between Floyd Mayweather Jr. and Business Insider is over,” read a story from Front Office Sport (FOS)’s Ben Horney.
“The lawsuit, filed just over a year ago, has been voluntarily dismissed with prejudice, meaning Mayweather cannot refile the same claims. Counterclaims that were made by Business Insider have also been permanently dropped, and each side will handle their own fees and costs. The judge signed an order dismissing the case on Tuesday.”
Both sides subsequently released separate statements.
Business Insider called Mayweather’s allegations “meritless” and told Front Office Sports they were glad the boxing star dropped the lawsuit.
Meanwhile, Mayweather’s team said he has “resolved his claims against Business Insider. He’s focused on his business ventures and scheduled fights in the near future.”
The lawsuit stemmed from a Business Insider report that raised questions about major real estate deals Mayweather had commented on publicly. It centered particularly on a supposed purchase of a 62-building apartment portfolio in Manhattan.
Inside the legal drama and fight uncertainty surrounding Floyd Mayweather
“All the buildings belong to me; I don’t have no partners,” Mayweather said in an Instagram post. “And all the retail down below, on my buildings, all belong to me. Guess what? You can do the same. It’s all about making power moves.”
But the report by Daniel Geiger challenged that claim.
“Yet the boxer’s bold claims do not appear to match reality,” it read. “A month after Mayweather’s announcement, none of the buildings have changed hands, according to New York City property records, which are usually updated within days of a sale, several experts said. A deal to sell the properties outright to Mayweather does not seem imminent.”
That report ultimately led Mayweather to sue, accusing Geiger and Business Insider of “harassment,” “misleading journalism,” “bias against him,” and “intentionally trying to embarrass him publicly.”
Mayweather’s lawsuit claimed documents existed proving the deal was real. But Geiger refused to review them and reported on the matter in a way that damaged his reputation and business interests.
“Business Insider disputed the allegations,” the FOS report read. “Calling them “dishonest” in court filings. It also argued that Mayweather failed to show there was “actual malice,” which is the necessary standard to prove defamation.”
But the lawsuit is only one of several issues currently surrounding Mayweather.
Last month, after reports emerged that the IRS hit Mayweather with a $7.3 million lien, another legal challenge followed, this time from a private jet service.
The company accused Mayweather of not paying for its services, which amounted to roughly $105,000.
All these developments come as reports continue suggesting his fights, beginning with the Mike Tyson event, are running into problems.
The Tyson exhibition was supposed to happen last month. While both camps remain optimistic, the fight’s status remains unclear.
Mayweather also has another exhibition against Greek kickboxer Mike Zambidis lined up in June. But after the IRS warned about potentially revoking his passport, that fight is also in doubt.
The much-anticipated rematch with Manny Pacquiao had already run into trouble after Mayweather declared it would be an exhibition and not a “real fight.”
