Floyd Mayweather says the Logan Paul fight was supposed to go down in Dubai — but the org. he teamed up with to put on the event dropped the ball … and now his company is suing for more than $120 MILLION!!
TMZ Sports obtained the lawsuit, filed by Mayweather Promotions, alleging a company called PAC Entertainment Worldwide approached them about hosting the event in Dubai at an undisclosed date in 2021.
Mayweather Promotions claims PAC claimed to have “numerous business contacts in Dubai” and “had the financial wherewithal and capability to host a fight of this magnitude.”
Most importantly, Mayweather Promotions says 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.”
Mayweather Promotions admits it was impressed with the pitch and claims it ultimately signed a deal requiring PAC to pay a minimum guaranteed amount of $110 MILLION on a “prescribed payment schedule.”
Mayweather Promotions claims the 1st payment of $30 million was due on March 25, 2021 — but the money never came.
Mayweather Promotions claims the missed payment triggered a clause allowing MP to terminate the deal while still requiring PAC to fork up the full $110 million.
In the suit, Mayweather Promotions claims they were left scrambling to make new fight plans — and ultimately worked out a deal to move the fight to Miami on June 6.
Mayweather Promotions is suing for breach of contract — and demanding at least $122.6 million in damages.
We’re reaching to PAC for comment — and will update if we hear back.
