Earlier this month, Nate Diaz defeated Jorge Masvidal in an action-packed boxing match in front of 18,000 fans at the Honda Center in Anaheim, California.
Diaz and Masvidal are primarily known for their star turns in the UFC, but their fight was highly entertaining and received acclaim from fans and media. It offered late career combat possibilities to both.
That was the good part of what was essentially a novelty bout.
The bad part? Actually getting paid.
Monday, just eight days after success in the ring and the minds of onlookers, Diaz filed a federal lawsuit in the Southern District of Florida against the promotion Fanmio, Inc. and its president Solomon Engel alleging it owes Diaz $9 million for his appearance in the fight.
A request for comment from Fanmio has not yet been returned.
According to the lawsuit, Fanmio agreed Diaz was to receive $10 million for the fight with “$1 million paid up front and the remaining $9 million paid immediately following the event.”
Diaz and his representatives, the suit alleges, repeatedly expressed concern about Fanmio’s ability to fulfill the contract but were assured via written and verbal promises that the remaining $9 million was in a secure independent account and ready to be transferred.
“Diaz would have never participated in the event if his representatives had not received the foregoing assurances from Fanmio and Engel via their attorney,” the suit reads.
However, the suit alleges, Engel has since told Diaz’s representatives that the event did not achieve the financial success expected, especially on pay-per-view, and payment is impossible.
“Fanmio and Engel are now reneging on their written and oral promises and guarantees to pay $9 million owing to Diaz because they claim they are going to lose money on the event,” the suit reads. “In a flurry of desperate calls to Diaz’s representatives following the event, Engel despondently groveled that he was going to lose more money than he had anticipated on the event if he paid Diaz what he had promised and that his wife might divorce him because of the financial losses. Engel went so far as to threaten he might have to declare bankruptcy to avoid paying Diaz what he owed.
“There is nothing lower or more despicable in the world of boxing than a boxing promoter who allows a fighter to put their health and safety on the line in a boxing event so that the promoter has the chance to make tremendous profits, only to later renege on paying the boxer following the event.”
Masvidal and his team are not party to this lawsuit and have not offered comment.
Fanmio is in a promotion business based in South Florida. Per its website, Fanmio was involved in numerous high-profile events including a 2021 exhibition boxing match between Floyd Mayweather and Logan Paul and a 2022 slap fighting card presented along with Arnold Schwarzenegger.
Source Agencies
