$3M Debt: Court Orders Seizure of Mayweather’s Bugatti, Ferrari

By Our Foreign Desk

LOS ANGELES — The garage of undefeated boxing legend Floyd “Money” Mayweather is at risk of becoming a little emptier after a United States court authorized the seizure of his luxury vehicles to settle a mounting debt owed to a Nigerian media firm.

In a stunning legal knockout, the court denied Mayweather’s appeal against a 2023 judgment, effectively greenlighting the enforcement of a payout now estimated at nearly $3 million to Zinni Media Concept Limited.

With the boxing icon failing to settle the debt voluntarily for over two years, the court has granted attorneys the authority to go after his most prized assets. Specifically named in the enforcement order are two crown jewels of his car collection:

• A 2015 Bugatti Veyron
• A 2015 Ferrari LaFerrari Aperta

Both hypercars are valued significantly higher than the judgment debt, meaning their seizure would more than cover the amount owed.

The legal saga dates back to June 2017. Zinni Media paid Mayweather a $210,000 deposit for a series of appearances in Nigeria and Ghana. The boxer never showed up for the events and allegedly refused to refund the initial payment.

After years of silence, the Nigerian firm sued for breach of contract and fraud. A Los Angeles court originally awarded them $2.4 million in damages, covering the principal sum, legal fees, and prejudgment interest. With interest accruing during the appeal process, the liability has now swelled to approximately $3 million.

Alex Nwankwo, an executive for Zinni Media, confirmed the development, celebrating the victory for the Nigerian outfit after a long “David vs. Goliath” legal battle.

“After multiple unsuccessful attempts to recover the appearance fees… we filed a lawsuit in 2018. We appreciate that two courts have ruled in favour of Zinni Media Ltd,” Nwankwo stated.

The ruling serves as a sharp contrast to the image Mayweather projects. Just last month, the boxer bragged about his financial health at a forum in New York, citing ownership of “two private jets and 100 buildings” to debunk rumors of bankruptcy.

However, with the appeal denied and federal enforcement agents now empowered to seize his vehicles, the self-proclaimed billionaire faces a strict deadline to pay up or watch his prized cars get towed.