In a recent development, Nate Diaz sued Fanmio’s promotion for reneging on their $9 million cash prize.
UFC fighters Nate Diaz and Jorge Masvidal went toe-to-toe in a boxing match over the weekend. The bout ended with a majority decision win for Diaz, his first in professional boxing after a debut loss to Jake Paul.
Eight days after the event, Diaz is suing the promotion after they refused to pay the $9 million prize they agreed on. Fanmio president Solomon Engel promised the sum of $10 million to Diaz but has only paid one million, which was given before the contest. The news hit the streets early this week, and the lawsuit has had a couple of fighters intrigued. One of which is UFC Hall of Famer Michael Bisping. Bisping voiced his opinion on the situation and stated he felt terrible for Diaz. However, he doubted the lawsuit would produce the desire Diaz hoped for.
In a recent Believe You Me podcast episode, Bisping spoke about the situation with co-host Anthony Smith.
“It’s a really shitty situation for Nate Diaz. He upheld his end of the bargain. He did the training, sold the fighting, went out there and competed, put on an absolute classic, and then doesn’t get paid.
“Winning a lawsuit is one thing. Collecting from a lawsuit is very, very different,” Bisping continued. “The amount of people that actually get paid, or even get a judgement or an award, is very, very, low, I believe. And certainly, in a position like this, a boxing promoter they can just absolve the business, declare bankruptcy–that’s it, you’re done.
“Not to mention the fact that it’s going to cost a fortune to sue the guy. These things aren’t cheap. It seems like it would be a pretty much slam-dunk of a case. But still, there’s going to be legal expenses there–which, of course, Fanmio’s side would have to pay that… But again, you’re not going to get your award, you’re certainly not going to get your legal expenses.”
Bisping mentioned his experience competing in the UR Fight promotion in 2016 against Chael Sonnen. The fighter stated that despite the event’s low turnout, he was still paid for his appearance.
