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The aftermath of Fanmio's debut into the combat sports world has taken a dramatic turn, with UFC star Nate Diaz filing a lawsuit against the company for fraud and breach of contract.
The lawsuit arises from the July 6 boxing match between Nate Diaz and Jorge Masvidal, held at the Honda Center in Anaheim, California. Diaz emerged victorious by majority decision, but his triumph in the ring has been overshadowed by a legal battle over unpaid earnings. Diaz claims Fanmio owes him $10 million for his participation in the fight but has only paid $1 million so far.
According to a copy of the lawsuit, Diaz filed the case in the U.S. District Court in Miami, accusing Fanmio's CEO and founder Solomon Engel of refusing to honor their financial agreement. TMZ first broke the news of the lawsuit, which reveals Engel’s reluctance to pay the full $10 million due to the fight not meeting financial expectations. Engel reportedly informed Diaz that he couldn’t fulfill the payment because it could lead to personal financial ruin, stating, “his wife might divorce him over the financial loss.”
Diaz, 39, asserts that he would never have agreed to the bout if he had known the payment was in jeopardy. His lawsuit seeks to recover the full amount promised, emphasizing that both verbal and written agreements guaranteed the $10 million payout.
This legal confrontation follows a high-profile boxing rematch between Diaz and Masvidal. The two originally faced off in an MMA bout at UFC 244 in November 2019, where Masvidal won by TKO due to a doctor's stoppage, claiming the inaugural BMF title. The recent boxing match was highly anticipated, rekindling the rivalry between the two fighters.
This lawsuit highlights the financial risks and uncertainties in combat sports promotions, particularly for fighters who rely heavily on contractual agreements. As the case unfolds, it underscores the critical importance of financial transparency and trust in the rapidly growing world of combat sports entertainment.
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