Facing $7M Tax Debt, Floyd Mayweather Jr. Drops $100M Lawsuit Against ‘Business Insider’

LOS ANGELES, CALIFORNIA - NOVEMBER 21: Floyd Mayweather Jr. attends a basketball game between the Los Angeles Lakers and the Orlando Magic at Crypto.com Arena on November 21, 2024 in Los Angeles, California. (Photo by Allen Berezovsky/Getty Images)

Floyd Mayweather Jr. has dropped a $100 million lawsuit against Business Insider.

Lasting over a year, the case was brought up after reports disputed Mayweather’s claims of owning a large apartment portfolio in Manhattan. Business Insider reporter Daniel Geiger reported last year that there was “no evidence there has been a sale,” leading Mayweather to accuse the outlet of defamation.

Business Insider fought his complaint, arguing that Mayweather failed to meet the legal standard for proving defamation against a public figure – actual malice.

Both parties agreed to drop the case and to cover their own legal costs. A judge signed off on the case’s dismissal on Tuesday.

Subscribe to our free weekly newsletter!

A week of sports news in your in-box.
We find the sports news you need to know, so you don't have to.

Despite a long legal battle concluding, this has taken a toll on the ex-World Champion’s attempt at a boxing comeback.

The 15-time World Champion was involved in multiple legal disputes prior to the Business Insider.

This week, it was reported that he owes the IRS $7.3 million and is at risk of having his passport revoked.

Mayweather sued Showtime Networks and former executive Stephen Espinoza for more than $340 million, alleging “misappropriation of funds.”

He also sued a Las Vegas supercar dealership over a disputed $1.2 million purchase of a Maybach.

Mayweather hung up his gloves in 2017 after posting a 50-0 record. He won his first world title in his second year as a professional boxer, defeating then No. 1 super featherweight Genaro Hernández in 1998 with an eighth-round technical knockout.

He defeated Conor McGregor in 2017 by technical knockout in ten rounds; his fight with McGregor was the second-highest pay-per-view buy rate in history, behind the 2015 match between Mayweather and Manny Pacquiao.

Mayweather remains active through exhibition matches and comeback events. He is rumored to fight Pacquiao in September at the Sphere in Las Vegas, while an exhibition match against Mike Tyson is still up in the air because of Mayweather’s legal troubles.