Anaheim, CA — Victory in the boxing ring brought a rush of adrenaline to Nate Diaz earlier this month, but the fighter now finds himself in a legal tussle outside the ring against Fanmio, Inc. and its president Solomon Engel, seeking a substantial sum of $9 million owed from the event.
On July 6, in a bout watched by 18,000 fans at the Honda Center, Diaz emerged victorious over Jorge Masvidal in a spectacle that strayed from their usual UFC encounters, showcasing their prowess in a boxing format late in their careers. The event, however, has spiraled into controversy not for the fighters’ performance but for the alleged financial mishandling by the event promoter.
Diaz’s complaint, filed in the Southern District of Florida, claims breach of agreement by Fanmio, which the suit alleges has failed to complete a $10 million payment agreement endorsed before the fight—a sum that should have been fully settled shortly after the event concluded, following an initial upfront payment of $1 million.
The filing paints a situation of distrust and broken assurances. Diaz and his team had harbored concerns about Fanmio’s reliability in fulfilling the contract. According to the lawsuit, Fanmio and Engel assured Diaz through written and verbal communications that the purse would be secure, directly influencing Diaz’s decision to participate.
However, the promises apparently fell flat as Engel communicated to Diaz’s representatives post-event that the pay-per-view sales did not meet expectations, putting the remainder of the payment in jeopardy. The complaint also cites a series of frantic communications from Engel, suggesting dire financial straits could force him into bankruptcy and revealing personal anxieties about the potential fallout of the financial loss, including marital strife.
This case lays bare another grim saga in the world of professional boxing, where disputes over financial arrangements frequently overshadow athletic achievements. “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,” the lawsuit details.
While Fanmio did not respond to requests for comment on the lawsuit, its promotional history includes notable ventures such as the 2021 Floyd Mayweather and Logan Paul exhibition boxing match and a slap fighting event in 2022 with Arnold Schwarzenegger, suggesting a pedigree in high-stake, high-visibility events.
As the legal battle unfolds, the sporting community watches closely, reminded again of the precarious balance between the financial interests that drive big-ticket events and the athletes whose performances are its foundation.
Jorge Masvidal and his representatives, named in the event but not in the legal proceedings, have thus far remained silent on the issue.
This lawsuit not only highlights the challenges athletes often face when engaging with promoters but also casts a shadow on the integrity of contractual commitments in high-pressure, high-reward sporting events. As Diaz seeks reparation through the legal system, the outcome of this case may influence how future contracts are handled in the boxing industry where monetary disputes have become all too common.