Fanmio ordered to pay more than $12M to Diaz and Masvidal

A federal arbitrator and a Florida court have ordered Fanmio Inc., the promoter behind the July 6, 2024 boxing match between Nate Diaz and Jorge Masvidal at the Honda Center in Anaheim, to pay multimillion-dollar awards to both fighters after the company failed to make full purse payments following the sold-out event.

Jorge Masvidal secured a final default judgment this week for $5,315,268.64 after he sued Fanmio in January alleging the platform had paid him only $1.15 million of a contracted $6 million purse. Masvidal had a $6 million base purse with a $1 million win bonus; he lost the 10-round bout to Diaz by majority decision. Masvidal filed suit after Fanmio did not respond to his complaint, and a judge signed off on the arbitrator’s ruling and the default judgment, which will accrue postjudgment interest.

Nate Diaz pursued a separate claim alleging he was promised $10 million for the fight, including a $1 million advance and $9 million upon performance. A private arbitrator later ordered Fanmio to pay Diaz $6 million, and found Fanmio’s owner, Solomon Engel, personally liable for $500,000, plus roughly $348,000 in attorney fees and costs. That award awaits confirmation in...