Mayweather Promotions is suing PAC Entertainment Worldwide for at least $122.6 million in damages, claiming that the company failed to deliver on a "prescribed payment schedule" regarding plans to host Floyd Mayweather's upcoming boxing exhibition match against Logan Paul in Dubai.
TMZ Sports broke the news and provided information from the lawsuit, which claims that PAC owed Mayweather Promotions $110 million on a payment schedule. The first payment of $30 million was reportedly due on March 25, but that allegedly did not arrive.
Mayweather Promotions says that missed payment allows the promotional company to back out of the deal while simultaneously mandating that PAC pay the full $110 million.
The lawsuit claims that PAC approached Mayweather Promotions about hosting the Mayweather-Paul boxing match in Dubai.
The company claims that PAC said it had "numerous business contacts in Dubai" and would have "the financial wherewithal and capability to host a fight of this magnitude."
Mayweather Promotions also claims that promoters would earn over $100 million in profits even after all purses and expenses were covered.
The fight will not be happening in Dubai, however. Mayweather, an undefeated and retired boxing champion, will be facing Paul, an American YouTuber and professional boxer, on June 6 in Miami.