Floyd Mayweather vs. Logan Paul had been set to take place in Dubai, but it seems business partner PAC Enterainment Worldwide dropped the ball and now the ‘Money’ Team is out for blood.
If Miami seems like an odd place to hold a major boxing event, it wasn’t the first choice for Floyd Mayweather Jr. for his upcoming exhibition fight with Logan Paul. The former multiple time world champion and unbeaten boxing talent had originally planned to hold the fight in Dubai.
That’s according to a recent report from TMZ Sports, who revealed the planned location as part of a newly filed lawsuit on behalf of Mayweather Promotions. It appears representatives of the welterweight boxer are looking to claim as much as $122.6 million in damages from event company PAC Entertainment Worldwide over what they claim to be a breach of contract.
According to the TMZ story, Mayweather Promotions entered into an agreement with PAC after an especially persuasive meeting where the company claimed to have “numerous business contacts in Dubai” and “the financial wherewithal and capability to host a fight of this magnitude.”
The agreement purportedly involved PAC paying Mayweather Promotions $110 million in the lead up to the event over a series of chunks, with the claim that the company estimated “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.”
The first $30 million chunk PAC was supposed to pay Mayweather Promotions came due on March 25th. But it appears that money never arrived.
In the lawsuit representatives for the boxer claim that the nature of their deal meant that not only could they then back out after the missed payment (which they did, moving the event to Miami instead), but that PAC would still be on the hook for the full $110 million.
Mayweather vs. Paul is set to go down on June 6th, at the Hardrock Stadium in Miami, FL. Assuming that event is a major PPV success, it looks like Mayweather has a opportunity to turn 2021 into an extremely lucrative year for the otherwise retired pugilist.