Floyd Mayweather has withdrawn his $175 million lawsuit against former business manager Jona Rechnitz and investment executive Ayal Frist, ending the case for now just months after accusing the pair of fraud and breach of fiduciary duty.
The boxing legend filed the New York lawsuit in May, alleging Rechnitz and Frist were involved in misconduct tied to several business transactions and investments.
Mayweather claimed substantial funds connected to his finances were held through Frist Apex Ventures, the real estate and investment company operated by Frist, while Rechnitz allegedly played a role through his work as Mayweather’s former investment manager.
However, Mayweather’s attorney Leo Jacobs confirmed Thursday that the lawsuit had been withdrawn.
“At this time, our client has decided to withdraw its claim without prejudice,” Jacobs told ESPN.
Because the case was dismissed without prejudice, Mayweather still has the option to bring the claims again in the future.
It remains unclear whether he plans to do so.
Mayweather Drops Lawsuit Before Defendants Were Due To Respond
The timing of the withdrawal is notable.
According to court records, Rechnitz and Frist had been expected to formally respond to Mayweather’s allegations on Friday.
Mayweather withdrew the lawsuit before that deadline arrived.
Rechnitz’s attorney had previously denied the accusations, calling the claims “utterly baseless” and saying they were contradicted by documentary evidence.
A source close to Rechnitz echoed that position following the dismissal, claiming Mayweather’s allegations would not have survived in court.
Those statements represent the defendants’ position, and the allegations in Mayweather’s lawsuit were never adjudicated.
Floyd Mayweather Still Involved In Several Other Legal Battles
The withdrawn $175 million case is only one of multiple legal disputes currently surrounding Mayweather.
He is still pursuing a separate $340 million federal lawsuit against Showtime Networks, accusing the company of fraud and conspiracy.
Mayweather has also faced civil claims involving alleged unpaid debts and disputes over goods and services.
He and Frist Apex are additionally defendants in a breach-of-contract case involving proposed fights featuring Manny Pacquiao, Mike Tyson and Mike Zambidis.
In Nevada, Mayweather is also facing criminal charges connected to an allegedly bad $200,000 check that was reportedly used to purchase a luxury watch in Las Vegas.
Authorities have accused him of theft and intent to defraud in that case.
Meanwhile, the IRS filed a tax lien against Mayweather earlier this year for nearly $7.3 million, involving alleged unpaid federal taxes from 2018 and 2023.
For now, the $175 million lawsuit against Rechnitz and Frist is off the table.