Tarnished Twenty- The FindLaw Sports Law Blog

Jewelers Sue Floyd Mayweather Jr. for $1.4M

The words 'Floyd Mayweather' and 'jewelry shopping spree' often find themselves colliding in headlines. But according to one Las Vegas jeweler, the man they call "Money" doesn't always pay his debts.

The Jewelers Inc. claim Mayweather still owes them $1.4 million for a necklace the boxer bought last year, and are suing him in Clark County Court to get paid.

KO's Karats

The lawsuit alleges Mayweather picked up a $3 million diamond-covered necklace last September, dropping $1 million at the time and agreeing to pay the remaining balance in $100,000 monthly installments. After making the first six payments, The Jewelers claim, Mayweather stopped cash. The suit also accuses Mayweather of ignoring repeated requests to pay the balance.

The necklace reportedly contains 72 three-carat, round-cut stones. According to Courthouse News Service, The Jewelers are looking for the remaining $1.4 million, along with interest, damages for unjust enrichment, breach of agreement and bad faith, attorney's fees, and legal costs. Forbes says Mayweather earned $300 million in 2015.

In Foul Weather

This isn't the first time Mayweather's been accused of skipping out on a jewelry debt. Jewelers of Las Vegas sued him in 2005, claiming he still owed $124,000 on over 20 pieces of jewelry purchased in the previous 12 months. The jewelry included several custom pieces, including a diamond-encrusted belt buckle.

Mayweather has also been convicted of domestic battery and assault three times, and has been involved in seven separate physical altercations with five different women that resulted in either an arrest or citation.

And just last year, the World Boxing Organization stripped Mayweather of his Welterweight Championship title for noncompliance. Floyd won the title when he beat Manny Pacquiao in a historic bout, but WBO rules say that boxers cannot hold world titles in multiple weight classes. Mayweather had two junior middleweight titles when he won the welterweight title and failed to vacate the two other belts and pay a $200,000 fine in time.

Related Resources: