Carl Frampton tells court it was ‘difficult’ to speak to Barry McGuigan about money issues

The former two-weight world champion claimed that he was promised a 30% share of profits made by the venture.

He also claimed it was difficult to discuss money and sponsorship issues with Mr McGuigan.

Mr Frampton said: “He would say things like you don’t want to be a race car driver.”

The Belfast fighter is suing his former mentor for alleged withheld earnings in a multi-million pound action.

It involves claims against Cyclone Promotions UK Ltd - of which Mr McGuigan was a director - over purse fees, broadcasting rights, ticket sales and merchandising from some of Mr Frampton’s highest-profile bouts.

The two sporting stars, both ex-world champions, formed a hugely successful relationship before they split in 2017.

Mr Frampton, 33, is facing a counter-claim in London for alleged breach of contract over his departure from Cyclone.

His lawsuit centres on an alleged conflict of interests in Mr McGuigan’s dual role as manager and promoter.

On day two of the hearing in Belfast, the court heard a Northern Ireland-based Cyclone company was set up in 2013, with Mr Frampton named among its directors.

In evidence the boxer stated that he was convinced to leave a rival promoter and “go his own way” with Mr McGuigan.

“Barry made it clear we would set up our own company (and) you will get 30% of the profits,” he said.

Nothing was put in writing because everything was done on trust, according to Mr Frampton.

Asked by his barrister Gavin Millar QC how the new venture was presented to the boxing world, he replied: “Mr McGuigan made it clear I was now part of Cyclone Promotions, not only a boxer but part of the promotions.”

Mr Frampton explained that the new company planned to put on a lot of shows in Northern Ireland with him topping the bill.

“They were pretty passionate about that and how successful it was going to be,” he went on.

“It sounds absurd, but we were going to be big time in this boxing game.

“You have Top Rank, Eddie Hearn, there were suggestions we were going to be matching them and be big in the States as well.”

Mr Millar then asked: “In this capacity as director were any payments ever made to you as a director?”

The boxer replied: “No.”

He also claimed that he received no payments as an employee of the company.

In evidence Mr Frampton claimed he queried the financial arrangements with two of Mr McGuigan’s sons, Jake and Blane.

“Both answers were very similar, ‘We don’t make profits, there’s not enough money in this game, we receive a wage’.

When it was put to him that he should have sought answers from the man who was also his manager, Mr Frampton replied: “It was always difficult to speak to Barry about money issues.”

The hearing at Belfast High Court continues.