Floyd Mayweather has dropped his massive fraud lawsuit against several former business associates, although the undefeated boxing legend could eventually take another swing at the case.
Videos by FanBuzz
Mayweather notified the New York Supreme Court that he was voluntarily dismissing his lawsuit against Jona Rechnitz, Ayal Frist, Alexander Seligson and Frist Apex Ventures, according to court documents obtained by TMZ Sports.
The dismissal was filed "without prejudice." That distinction means Mayweather retains the ability to refile his claims at a later date.
Mayweather filed the lawsuit in May and sought damages of at least $175 million. The 50-0 former champion alleged that the defendants defrauded him through various business dealings and misappropriated enormous amounts of money.
His allegations involved real estate investments, approximately $100 million worth of luxury jewelry and proceeds from the sale of a private jet.
An attorney representing the defendants previously called Mayweather's lawsuit "utterly baseless."
It remains unclear why Mayweather decided to dismiss the case. A source connected to Rechnitz told TMZ that the defendants were preparing to file a response that they believed contained records disproving the boxer's accusations.
Mayweather's attorney did not immediately respond to the outlet's request for comment.
The 49-year-old Mayweather retired from professional boxing with a perfect 50-0 record after defeating UFC star Conor McGregor in 2017. He has continued participating in lucrative exhibition bouts since leaving sanctioned competition.
Mayweather reportedly earned more than $1 billion during his fighting career, making him one of the highest-paid athletes in sports history.
