News Nate Diaz sues Fanmio for fraud, breach of contract after not being paid $10M for Masvidal fight

[svmr_db]

The aftermath of Fanmio’s first endeavour into combat sports isn’t looking so good.

The company promoted the Nate Diaz vs. Jorge Masvidal boxing match that took place July 6 at Honda Center in Anaheim, Calif. Diaz won the bout by majority decision, and now he has filed a lawsuit against Fanmio claiming fraud and breach of contract for failure to pay his agreed upon compensation of $10 million.

TMZ reported on Monday that Diaz filed a lawsuit in U.S. District Court in Miami, claiming Fanmio CEO and founder Solomon Engel is unwilling to pay the complete $10 million sum that was agreed upon for Diaz’s participation in the boxing match with Masvidal. Diaz said only $1 million has been sent.

According to TMZ, Engel told Diaz, 39, that he couldn’t pay out $10 million because the fight did not meet financial expectations. Additionally, the report states Engel told Diaz he was going back on their verbal and written agreements because “his wife might divorce him over the financial loss.”

TMZ also reported that Diaz’s lawsuit states he never would have entered the ring for the boxing match if he had known the payment obligations would be in question.

Diaz’s representative Zach Rosenfield did not immediately return MMA Junkie’s request for comment on the lawsuit following the TMZ report.

The boxing match between Diaz and Masvidal was a rematch of an MMA fight that happened at UFC 244 in November 2019. That night, Masvidal earned a doctor’s stoppage TKO after Round 3, which won him the inaugural BMF title.

 

[WaylonMercy5150]

 

[FrankNStein]

Good. If the promotor was dumb enough to think this was going to generate enough revenue that he could afford to pay Nate $10 million, he deserves to get sued.

 

[method115]

Everyone complains about the UFC pay but at least you get your money. Seems like I hear about this sort of stuff happening more and more to fighters.

 

[TempleoftheDog]

Good. If the promotor was dumb enough to think this was going to generate enough revenue that he could afford to pay Nate $10 million, he deserves to get sued.

If Nate thought it would generate enough for him to be paid $10M. He needs to lay off the weed.

 

[Dorkman]

Lol what does your wife divorcing you for you making bad business deals do to justify not paying someone? That's your burden to deal with pal, not nate to take the financial hit.

 

[Here's Johnny!]

Dude thought nate diaz vs Masvidal was going to generate like $20 million boxing in 2024? He deserves to lose all his money he sucks at business...

 

[DatSamboKid]

Dana White is going to love this one.

"Every event is a going out of business event."

 

[flektarn]

$10 million? For Nate vs Jorge? Hahahah holy shit mr CTE weedbrain is absolutely delusional.

 

[usernamee]

I want to see the contract

 

[mudrubble]

Didn't realize this happened. To be fair, no court is going to order this guy to pay once they realize his wife might divorce him!

Plus, the amount he signed to pay Nate was based on what he THOUGHT the fight would sell. And it didn't meet his fantasy amount.

No court can force him to pay for failed fantasies and broken marriages. Those are protected situations. Nate's outta luck!



Plot twist: Dana told them not to pay Nate in order to force him to resign with the UFC. Devious!

 

[HunterAcosta]

The Streams of Freedom beckon us all.

 

[mudrubble]

Lol what does your wife divorcing you for you making bad business deals do to justify not paying someone? That's your burden to deal with pal, not nate to take the financial hit.

Why? Doesn't Nate have a heart??

The guy's boo is turning her back on him, man. Now is NOT the time to discuss money! Family first!

 

[mudrubble]

The Streams of Freedom beckon us all.

Nate purified himself in the waters of Lake Fanmio.

 

[RockyLockridge]

If Nate thought it would generate enough for him to be paid $10M. He needs to lay off the weed.

that's really not his concern though, if the number said 10 million to show up and fight he did his part. It's time to pay the man

 

[Croaker]

Everyone complains about the UFC pay but at least you get your money. Seems like I hear about this sort of stuff happening more and more to fighters.

Its easy to pay everyone when your overhead is the cheapest in combat sports lol

 

[TempleoftheDog]

that's really not his concern though, if the number said 10 million to show up and fight he did his part. It's time to pay the man

Indeed.

Go collect it then, I guess?

I would certainly balk at a number like that if it wasn’t happening in SA, or UAE, though.

Wouldn’t you?

Show me a guarantee of holdings in a legit bank. Otherwise, take a flying leap.

This is business 101, man.

 

[RockyLockridge]

Indeed.

Go collect it then, I guess?

Yeah that's why he lawyer'd up

 

[Mammothman]

Nate is no longer a needle mover confirmed

 

[Serge421]

I think they tricked Nate by taking away a zero and knowing he wouldn't be able to read the difference