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 mostly known for their UFC stars, but their fight was a lot of fun and received praise from fans and the media. It offered combat possibilities at the end of their careers for both.
That was the good part of what was essentially a groundbreaking fight.
The bad part? Actually getting paid.
Monday, just eight days after her success in the ring and in the minds of spectators, Diaz filed a federal lawsuit in the Southern District of Florida against the promotion Fanmio, Inc. and its president, Solomon Engel, claiming she owed Diaz U.S. $9 million for his appearance in the fight.
A request for comment from Fanmio has not yet been responded to.
According to the lawsuit, Fanmio agreed that Diaz would receive $10 million for the fight, with “$1 million paid in advance and the remaining $9 million paid immediately after the event.”
Diaz and his representatives, the lawsuit alleges, repeatedly expressed concerns about Fanmio’s ability to fulfill the contract, but were assured through written and verbal promises that the remaining $9 million was in a secure independent account and ready to be transferred. .
“Diaz would never have participated in the event if his representatives had not received prior assurances from Fanmio and Engel through his attorney,” the lawsuit says.
However, the suit alleges, Engel has since told Diaz’s representatives that the event has not achieved the expected financial success, especially on pay-per-view, and payment is impossible.
“Fanmio and Engel are now reneging on their written and oral promises and assurances to pay $9 million owed to Diaz because they claim they will lose money on the event,” the lawsuit says. “In a flurry of desperate calls to Diaz’s representatives after the event, Engel despondently said that he would lose more money than he had anticipated at the event if he paid Diaz what he promised and that his wife might divorce him because of the financial losses. Engel went so far as to threaten that he would have to declare bankruptcy to avoid paying Diaz what he owed.
“There is nothing inferior or more despicable in the world of boxing than a boxing promoter who allows a fighter to put his health and safety at risk at a boxing event so that the promoter has the chance to make tremendous profits, only for more later reneging on payment to the boxer after the event.”
Masvidal and his team are not a party to this lawsuit and have not commented.
Fanmio operates a promotion business based in South Florida. According to its website, Fanmio has been involved in several high-profile events, including a 2021 boxing exhibition fight between Floyd Mayweather and Logan Paul and a 2022 slap fight card presented alongside Arnold Schwarzenegger.
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