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I don't think overpaid is the right word here. Askren was the star of their promotion. Have you seen any of the shows? They had huge crowds in attendance.
His pay was 50/50 for his initial agreement with escalating pay if he kept winning plus sponsorship endorsements. Apparently there was back room money as well.
Not to mention they gave him a Lamborghini for one of his wins on top of everything else.
It's not inconceivable that he was getting close to million a fight for his last 3-4 fights.
I think he definitely got a million for the last 4 each at least.