Floyd Mayweather has withdrawn his $175 million fraud lawsuit against several former business associates, ending the current case without giving up the option to bring the claims again.
The retired boxing champion notified the New York Supreme Court that he was dropping his lawsuit against Jona Rechnitz, Ayal Frist, Frist Apex Ventures and attorney Alexander Seligson, TMZ Sports reported.
The case was withdrawn without prejudice, meaning Mayweather can refile the claims in the future.
Mayweather had accused the defendants of participating in a years-long scheme that allegedly diverted at least $175 million through transactions involving investments, real estate, jewelry and a private jet. The defendants denied the allegations, and the withdrawal means the court did not decide whether Mayweather’s claims were valid.
Mayweather’s Attorney Confirms He Chose to Withdraw the Case
Mayweather’s attorney, Leo Jacobs, confirmed the withdrawal on Sept. 24.
“At this time, our client has decided to withdraw its claim without prejudice,” Jacobs told ESPN.
Jacobs did not publicly explain why Mayweather decided to end the case at this stage. According to ESPN, Rechnitz and Frist had been due to respond to the allegations in court the following day.
A source close to Rechnitz told the outlet that Mayweather’s claims would not have survived in court. That assertion was not tested before a judge because the lawsuit was withdrawn before the defendants’ response could resolve any of the disputed allegations.
Mayweather Alleged at Least $175 Million Was Misappropriated
Mayweather filed the lawsuit in May alongside Mayweather Promotions and companies connected to his real estate and aviation interests.
In the verified complaint, the plaintiffs accused Rechnitz and the other defendants of fraud, conversion, breach of fiduciary duty and other wrongdoing involving at least $175 million in assets and income.
The allegations covered several types of transactions. Mayweather claimed money connected to real estate deals and investments had been diverted, and the complaint also challenged transactions involving a Gulfstream G-IV private jet.
Another dispute centered on a jewelry collection that Mayweather valued at approximately $100 million. The complaint alleged that pieces were delivered to two Miami jewelry dealers in 2025 in exchange for approximately $13 million and that much of the collection remained with the dealers.
Those claims represented Mayweather’s version of the disputed transactions and were never established as facts by the court.
Rechnitz Had Rejected the Allegations Before the Withdrawal
Rechnitz’s side disputed the lawsuit from the beginning. An attorney for the defendants previously called Mayweather’s allegations “utterly baseless” and said documentary evidence, including correspondence involving Mayweather himself, contradicted his claims.
The defendants also maintained that Mayweather knew about transactions involving his jewelry and aircraft and said records and messages would support their account.
Their formal response had not yet resolved those disagreements when Mayweather withdrew the lawsuit. Because the filing was made without prejudice, the current $175 million case is no longer proceeding, but Mayweather retains the ability to return to court with the claims later.