With his financial troubles continuing to make headlines, Floyd Mayweather surprisingly felt $175 million dollars may not be worth going the whole distance. Back in May, the undefeated former world champion drew considerable attention after reports indicated he filed a case alleging fraud against some of his former business partners.

Months later, however, the situation appears to have changed. The latest development, as reported by TMZ, suggests Mayweather has dropped the multi-million lawsuit.

“According to court filings, which we obtained, the 50-0 fighter notified the New York Supreme Court that he was dropping the suit against Jona Rechnitz, Ayal Frist, Alexander Seligson, and Frist Apex Ventures,” the report read.

The lawsuit dates back to May. ESPN reported that Mayweather decided to pursue legal action after he felt that Rechnitz, who was previously his investment manager, and Frist, who is a real estate advisor, had cheated millions out of him. The fraud allegedly occurred over several years. As a result, Mayweather filed a case in New York State Court.

“The conduct alleged in this pleading—including the diversion of settlement proceeds, refinance proceeds, and recurring real estate distributions to accounts controlled by Jona Rechnitz through Frist Apex Ventures—demands a full judicial accounting,” Mayweather’s attorney, Leo Jacobs, stated at the time. “We look forward to obtaining that accounting and to recovering every dollar to which our client is entitled.”

Among the allegations, the complaint cited a $7.5 million payment made in 2024 for a supposed 12-month investment that allegedly never occurred and was not paid. It also alleged that $15 million from a real estate settlement was transferred to Frist Apex without authorization.

Separately, of a $16.4 million loan secured against four properties, more than $8.8 million allegedly went to Frist Apex, while Mayweather Promotions received only $2.5 million. Another $2.1 million from an $8.2 million property refinancing allegedly went there as well.

The filing further claimed a $1 million New York property deposit was diverted to a jeweler, while nearly $100 million worth of Mayweather’s jewelry was reportedly pledged to Miami jewelers for $13 million, with some items still held.

Mayweather’s 1996 Gulfstream IV jet was also allegedly sold without his knowledge, with proceeds diverted elsewhere.

The defendants denied the allegations.

Mayweather’s latest pullback may be connected to that rebuttal. The TMZ report, discussing the possible reasons, said, “A source in Rechnitz’s camp says the defendants were about to file their response, which they say contained receipts showing the claims were BS.”

Mayweather pulling out of a lawsuit is not unprecedented.

Floyd Mayweather throws in the towel on another lawsuit

Early in May, reports emerged that Mayweather had dropped a $100 million defamation case he filed against Business Insider. The legal action followed a Business Insider investigation that scrutinized several high-value real estate transactions the former world champion had discussed publicly.

A major focus of the report was his purported acquisition of a Manhattan apartment portfolio comprising 62 buildings.

But the two cases differ on a key legal point. In the Business Insider case, Mayweather dropped the lawsuit “with prejudice,” meaning that, in the future, he could not bring the same claims again.

But in the $175 million case against his former business partners, the former multi-division champion appears to have kept that option alive. He has reportedly pulled out “without prejudice,” which basically means he retains the option to refile the lawsuit in the future.

Beyond those legal entanglements, the issue once again puts into focus Mayweather’s financial problems that occupied major headlines this year.

Among the major lawsuits he is currently dealing with is the $340 million case against Showtime and its then-president Stephen Espinoza. Filed in February this year, Mayweather accused the defendants of fraud, civil conspiracy, and assisting a breach of fiduciary obligations.

Showtime, which is owned by Paramount, has rejected the accusations as unfounded. The representative of the company also moved the dispute from the state court to the federal court. The case remains active and is proceeding separately.

Likewise, the $7.3 million tax lien filed by the Internal Revenue Services (IRS) also remains outstanding for Mayweather.

All these issues largely emerged as Mayweather decided to make a comeback to professional boxing. Adding another complication, the former world champion faces one problem after another in that arena as well, with a promoter seeking a legal solution related to an alleged breach of contract.

As a result, Mayweather does not have any fights lined up for this year so far. The coming months should reveal how the boxing legend navigates his legal and financial challenges.