UPDATE: A Florida judge has just awarded UFC veteran Jorge Masvidal a staggering $5,315,268.64 in a default judgment against online platform Fanmio, the promoter of his boxing match against Nate Diaz in 2024. This urgent ruling, signed by Judge Beatrice Butchko Sanchez, follows an arbitrator’s decision that confirmed Masvidal’s claims regarding unpaid earnings from the match.
Masvidal, who sued Fanmio in January, initially agreed to a deal that promised him a base purse of $6 million for the bout, plus an additional $1 million if he secured a victory. However, Masvidal lost the fight by decision, and he later reported receiving only a $150,000 advance and a subsequent $1 million payment.
The arbitrator’s ruling has now put this legal battle to rest for Masvidal, but Fanmio’s troubles are far from over. Just two weeks after Masvidal’s lawsuit, Nate Diaz also filed against Fanmio, asserting he is owed over $9 million. An arbitrator has already sided with Diaz, awarding him $6 million along with attorney fees, though this case is still pending final approval.
In an additional layer of complexity, Fanmio itself is currently facing legal challenges. Earlier this year, the company initiated a lawsuit against Golden Boy Promotions and boxer Ryan Garcia over a canceled exhibition match that was scheduled for December 31, 2024. Garcia opted for a different fight, taking on Rolando Romero in May instead.
As these legal disputes unfold, the broader implications for promotional companies and fighters remain significant. The outcomes could set important precedents in the boxing industry, especially regarding contractual obligations and fighter compensation.
Stay tuned for more updates as this story develops, and watch for the final resolutions in both Masvidal’s and Diaz’s cases against Fanmio.
