Jorge Masvidal has won a default judgment against Fanmio, Inc. for non-payment from his boxing bout against Nate Diaz.
Fanmio, a streaming company that promoted the event July 6, 2024, at Honda Center in Anaheim, Calif., failed to pay Masvidal his $6 million guaranteed purse, which would have escalated to $7 million with a victory. Masvidal lost the bout against Diaz by majority decision.
According to court documents obtained by MMA Junkie, Masvidal was only paid two advances: $1 million and $150,000. The remaining funds were to be released no later than three business days after the fight. On July 12, 2024, Masvidal reached out to Fanmio owner Solomon Engel for payment of the balance of his guaranteed purse.
In January, Masvidal submitted the non-payment issue to an arbitrator. Fanmio did not dispute non-payment.
Tuesday, judge Beatirce Butchko Sanzhez in U.S. Circuit Court in Miami, granted Masvidal a final judgment and arbitration award totaling $5,315,268.64, plus post-judgment interest at the statutory rate (h/t Boxing Talk). The amount includes compensatory damages of $4,850,000, attorney fees and costs of $62,787.97, pre-judgment interest of $402,480.67.
Fanmio also has an ongoing case with Diaz, who was also not paid his full guaranteed purse.
Diaz was to be compensated a total of $10 million for the bout. So far, Diaz has been awarded $6 million from Fanmio and another $500,000 from Engel, who was found personally liable. Fanmio and Engel were also liable for Diaz’s attorney fees, totaling $297,813.65 and $51,747.50, respectively.
