Nate Diaz Sues Fanmio For $9M Post-Masvidal Fight

July 16, 2024
7 months
Nate Diaz Sues Fanmio For $9M Post-Masvidal Fight

Nate Diaz has sued the broadcaster Fanmio for $9 million over a breach of contract following his boxing bout against Jorge Masvidal.

Diaz won the fight via a majority decision, which avenged his UFC 244 defeat to Gamebread in 2019. The fight was stopped at the end of round three. This was due to a cut over Diaz’s eye as Masvidal became the first BMF Champion. The lawsuit was filed in U.S. District Court in Miami. It is alleged that Diaz and his promoter Solomon Engel agreed a payout of $10 million.

Diaz Reacts

Nate claimed that Engel could not provide the full amount as the event did not make enough money as expected. Diaz stated that before he entered the ring, there was an oral agreement. Nate has been paid $1 million, which was reportedly an advance. Diaz is looking to rematch Jake Paul and Leon Edwards in further fights. However, before he can do so, he will want this issue resolved as soon as possible.

“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. 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,” Diaz’s lawsuit said

Fanmio Reacts

Fanmio has now responded to the lawsuit. Engel states that Diaz has been paid over seven figures for the fight. It is hoped that this dispute can be resolved as soon as possible. 

“Nate Diaz has filed a frivolous lawsuit against Fanmio which claims that fraud and breach of contract were committed by Fanmio, yet neither has taken place. In fact, Diaz has already been paid seven figures in connection with the fight. I look forward to resolving this dispute through the appropriate process and am confident that justice will prevail. Making salacious and defamatory statements to the media in order to harm my family and I has only strengthened my resolve to ensure that the truth will triumph,” Fanmio’s Engel stated 

The lawsuit demonstrates that the demand for the fight was not high. Diaz turned down a $10 million offer to fight Jake Paul in MMA under the PFL. The PFL Chairman Donn Davis also offered $15 million to take that fight. Since Diaz was not fighting in the UFC, looking back, perhaps he made a bad decision.

The same offer may no longer be on the table. Jake has said he wants to face Mike Perry in an MMA bout after their boxing bout on July 20. There is a high chance that Perry is made the same offer, meaning Diaz is no longer in the frame. While Nate has spoken about possibly returning to the UFC, it is hard to see him get a payday anywhere near that.

Comments

Find all the latest boxing news and MMA breaking updates on boxingnews.com

THANK YOU FOR CHOOSING boxingnews.COM

TAGS
COMMENTS

RELATED NEWS