Mayweather's Ex-Manager Fires Back At Lawsuit

Floyd Mayweather filed a $175 million lawsuit against his former manager, Jona Rechnitz, alleging widespread fraud, but Rechnitz has now responded.

Jona said the allegations are false, and he says he has the documentation to prove it. The lawsuit's most significant claim centres on $100 million worth of jewellery.

Mayweather alleges Rechnitz used the pieces as collateral for a $13 million loan without his knowledge and that he never received the money. Rechnitz disputes both elements of that account. He says he has text messages showing Mayweather was fully aware the jewellery was being pawned, along with photos and video placing the pieces in Mayweather's hotel room at the Fontainebleau in Miami — followed by footage of cash later that same day, after the exchange with the jeweller had been completed.

Rechnitz also alleges he previously helped Mayweather secure a $1 million loan from New York jeweller Avi & Co. using an $18 million watch as collateral — a transaction he says Mayweather participated in knowingly.

Mayweather's lawsuit states that Rechnitz facilitated the sale of his Gulfstream but withheld the proceeds. Rechnitz says the money was paid in full, with the bulk of it going toward settling an existing multi-million dollar loan on the aircraft.

Reaction

"It's sad that Floyd blew through his money. I wrote him many letters concerning his spending habits which are documented. I had many conversations with him about slowing down with the spending, but unfortunately, it caught up to him and now he's looking to blame others. First, he blamed Al Haymon, and now he's blaming me."

"He is unhinged. I hope he can get back on his feet and control his spending. Floyd can continue to lie that he didn't know about the airplane purchase or the jewelry pawn. The facts speak for themselves. There's a lot more and I have all of the backup which we tried to show Floyd's attorney before they filed suit, but he refused to review any evidence that would contradict his frivolous lawsuit,” Rechnitz

The courts will decide who is telling the truth. Rechnitz, for now, says he is ready for that conversation.