Nate Diaz insists he is being cheated out of millions following his last fight.
The Stockton native has filed a lawsuit against Fanmio, the company that staged his recent boxing bout with Jorge Masvidal, claiming that he is owed $9 million by CEO Soloman Engel and his promotional outfit.
According to the lawsuit, Diaz asserts that he signed an agreement with Fanmio to be paid $10 million for his majority decision win over Masvidal on July 6,
with $1 million paid upfront and the remaining $9 million due after the event. Diaz alleges that Engel is now attempting to back out of the deal and is threatening to declare bankruptcy to avoid paying him.
This is a tough situation for Diaz, but he won’t be getting any sympathy from Jake Paul. ‘The Problem Child’ defeated Diaz in a boxing match last year and had offered the UFC veteran a lucrative rematch in MMA under the PFL promotional banner. However, the crossover fight never materialized, with Paul claiming that Diaz had ‘ducked’ the fight.
After news broke that Diaz was taking legal action against Fanmio, Paul took to social media platform X, writing: “Guess that $15 million from PFL needs to be taken a little more seriously you dummy. Yesterday’s price is not today’s price. Oh and Masvidal, you’re broke and can’t sell s***.”
A section of Diaz’s lawsuit released to the press states: “In a flurry of desperate calls to Diaz’s representatives following the event, Engel despondently grovelled that he was going to lose more money than he had anticipated on the event if he paid Diaz what he had promised and that his wife might divorce him because of the financial losses. Engel went so far as to threaten he might have to declare bankruptcy to avoid paying Diaz what he owed.”
Diaz is suing for both fraud and breach of contract.
Hours after Diaz filed the suit, Engel released a statement disputing his claims: “Nate Diaz has filed a frivolous lawsuit against Fanmio which claims that fraud and breach of contract were committed by Fanmio, yet neither has taken place. In fact, Diaz has already been paid seven figures in connection with the fight. I look forward to resolving this dispute through the appropriate process and am confident that justice will prevail.”
