Fanmio's first foray into martial arts doesn't seem to have much of a positive outcome.
The company promoted the Nate Diaz vs. Jorge Masvidal boxing match at the Honda Center in Anaheim, California on July 6. Diaz won the bout by majority decision, but is currently suing JuanMio, alleging fraud and breach of contract for failing to pay him an agreed-upon compensation of $10 million.
TMZ reported Monday that Diaz filed a lawsuit in U.S. District Court in Miami, alleging that FanMio CEO and founder Solomon Engel doesn't intend to pay the full $10 million that was agreed to for Diaz to participate in the boxing match with Masvidal. According to Diaz, only $1 million has been sent.
According to TMZ, Engel told Diaz, 39, that he couldn't pay him $10 million because the fight hadn't met financial expectations. The report further said Engel told Diaz that he was breaking both verbal and written agreements because “his wife might divorce him due to financial losses.”
TMZ also reported that Diaz's lawsuit states that if he knew his financial obligations would be an issue, he would never have stepped into the ring for a boxing match.
Diaz's agent, Zach Rosenfield, did not immediately respond to MMA Junkie's request for comment on the lawsuit following TMZ's report.
The boxing bout between Diaz and Masvidal was a rematch of their MMA bout at UFC 244 in November 2019. That night, Masvidal won by doctor's stoppage after the third round to claim the inaugural BMF title.
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