Former
Ultimate Fighting Championship star Nate Diaz is
feeling a little light in the wallet following his recent boxing
match against Jorge
Masvidal.
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According to a report from TMZ Sports, Diaz has filed a lawsuit in U.S.
District Court in Miami alleging that Fanmio CEO and founder
Solomon Engel is unwilling to pay the full $10 million that was
agreed upon prior to the July 6 bout. Diaz has claimed that Engel
has only paid $1 million of that purse. The Stockton, California,
native was expected to receive the remainder of the sum, which he
was told was being held in a collection account, from Fanmmio after
the fight.
“Diaz and his representatives were skeptical that Fanmio and Engel
had the financial resources to fund the payments, but they were
assured repeatedly that Fanmio and Engel had the financial
resources to pay Diaz and that any payments owed to Diaz for
participating in the boxing event would be fully guaranteed,” read
a copy of the lawsuit obtained by MMAjunkie.com.
According to the suit, Diaz’s services, which included interviews,
press conferences and social media promotion — in addition to the
fight itself — “well exceeds $20 million.”
The document also states that Engel claimed he would lose more
money than expected on the event if he paid Diaz his contracted
amount.
“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,” the suit states. “Engel went so far as to
threaten he might have to declare bankruptcy to avoid paying Diaz
what he owed.”
Diaz defeated Masvidal via split decision at a sold out Honda
Center in Anaheim, California on July 6. The event was also
available via pay-per-view, though buy rates for the card are not
available. The bout was a rematch of a fight at UFC 244 in November
2019, which Masvidal won via doctor stoppage after three rounds to
claim the promotion’s inaugural BMF title.
“Unfortunately, Diaz has been given no choice but to now sue Fanmio
and Engel to address their blatant breach of contract and fraud,
and recover the money Diaz is indisputably owed,” the lawsuit
states.
Engel has since released a statement denying the accusations levied
by Diaz.
“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,“ Engel stated. „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.”
Editor’s note: This item was updated at approximately 8:04 p.m.
ET to include a statement from Engel.