UFC veteran Jorge Masvidal was awarded a default judgment after submitting a lawsuit towards Fanmio, the corporate that promoted his 2024 boxing match towards Nate Diaz.
On Tuesday, Decide Beatrice Butchko Sanchez formally signed off on Masvidal’s request to grant the ultimate default judgment towards Fanmio after an arbitrator awarded the previous welterweight title challenger $5,315,268.64, plus post-judgment curiosity for non-payment from his combat towards Diaz.
Masvidal initially filed the lawsuit after he signed a deal to combat Diaz with a handbag quantity of $6 million, with a rise to $7 million if he was victorious. Whereas Masvidal in the end misplaced the combat, he claimed he was solely ever paid $1 million plus a $150,000 advance.
After Fanmio refused to make cost, Masvidal submitted the matter to an arbitrator again in January.
The arbitrator in the end sided with Masvidal and ordered Fanmio to pay $5,315,268.64 to the fighter, which included compensatory damages within the quantity of $4,850,000 plus charges for attorneys and curiosity.
Now the decide has granted Masvidal’s movement for closing default judgment in his pursuit of cash nonetheless owed to him by Fanmio.
In his lawsuit, Diaz particularly singled out Fanmio and proprietor/president Solomon Engel for allegedly agreeing to pay him a sum of $10 million for the combat towards Masvidal. The lawsuit alleges that Fanmio agreed to pay Diaz $1 million upfront, with the extra $9 million cost due after the combat.
A separate arbitrator overseeing that case additionally awarded Diaz a $6 million award, together with a further $500,000 penalty towards Fanmio founder Solomon Engel, who was discovered personally liable, in addition to lawyer charges and curiosity.
Diaz is now awaiting closing approval from a Federal decide on his arbitration award as properly.
