UFC veteran Jorge Masvidal was awarded a default judgment after filing a lawsuit against Fanmio, the company that promoted his 2024 boxing match against Nate Diaz.
On Tuesday, Judge Beatrice Butchko Sanchez officially signed off on Masvidal’s request to grant the final default judgment against Fanmio after an arbitrator awarded the former welterweight title challenger $5,315,268.64, plus post-judgment interest for non-payment from his fight against Diaz.
Masvidal initially filed the lawsuit after he signed a deal to fight Diaz with a purse amount of $6 million, with an increase to $7 million if he was victorious. While Masvidal ultimately lost the fight, he claimed he was only ever paid $1 million plus a $150,000 advance.
After Fanmio refused to make payment, Masvidal submitted the matter to an arbitrator back in January.
The arbitrator ultimately sided with Masvidal and ordered Fanmio to pay $5,315,268.64 to the fighter, which included compensatory damages in the amount of $4,850,000 plus fees for attorneys and interest.
Now the judge has granted Masvidal’s motion for final default judgment in his pursuit of money still owed to him by Fanmio.
In his lawsuit, Diaz specifically singled out Fanmio and owner/president Solomon Engel for allegedly agreeing to pay him a sum of $10 million for the fight against Masvidal. The lawsuit alleges that Fanmio agreed to pay Diaz $1 million upfront, with the additional $9 million payment due after the fight.
A separate arbitrator overseeing that case also awarded Diaz a $6 million award, along with an additional $500,000 penalty against Fanmio founder Solomon Engel, who was found personally liable, as well as attorney fees and interest.
Diaz is now awaiting final approval from a Federal judge on his arbitration award as well.
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