The Ultimate Fighter: A Legal Battle for Millions
In a high-profile legal case, former UFC star Jorge Masvidal has secured a substantial judgment against Fanmio, the company promoting his highly anticipated boxing match against Nate Diaz. The legal battle, which began in January, has resulted in a default judgment for Masvidal, awarding him over $5 million in damages. This comes as a significant victory for the former welterweight title challenger, who had initially signed a deal with a purse amount of $6 million, increasing to $7 million if he emerged victorious.
The arbitrator's decision, announced on Tuesday, ordered Fanmio to pay Masvidal $5,315,268.64, including compensatory damages of $4,850,000, attorney fees, and post-judgment interest. This ruling follows Masvidal's claim that he was only paid $1 million plus a $150,000 advance, despite the agreed-upon terms. The arbitrator's decision aligns with Masvidal's position, highlighting the importance of contract enforcement in the world of professional sports.
However, this legal dispute is not isolated. Nate Diaz has also filed a lawsuit against Fanmio, alleging that the company owes him $9 million for the fight against Masvidal. Diaz's lawsuit specifically targets Fanmio and its owner/president, Solomon Engel, claiming an agreement to pay him $10 million, with $1 million upfront and the remaining $9 million after the fight. A separate arbitrator has awarded Diaz $6 million, with an additional $500,000 penalty against Engel, who was found personally liable, along with attorney fees and interest.
Both Masvidal and Diaz are now awaiting final approval from federal judges regarding their respective arbitration awards. This legal saga underscores the complexities of contract negotiations and the potential financial risks for athletes in high-profile sporting events. As the legal proceedings continue, the outcome will significantly impact the financial standing of both fighters and the company involved.
