A U.S. court has confirmed that former world boxing champion Floyd Mayweather Jr. is required to pay $2.4 million in damages to Zinni Media Concept Limited, a Nigerian company, for breach of contract.
According to a statement from Alex Nwankwo, the company’s media executive, Zinni Media entered into an agreement with Mayweather in June 2017 for him to make various appearances in Africa, including one in Nigeria. However, Mayweather terminated the agreement unilaterally and refused to refund the advance payment made by the company.
Nwankwo alleged that Mayweather’s legal team suggested that the boxer could avoid refunds because Zinni Media was not based in the U.S. “After multiple unsuccessful attempts to recover the appearance fees from Mayweather, we filed a lawsuit in 2018, alleging breach of contract, unjust enrichment, and fraud. We appreciate that two courts have ruled in favor of Zinni Media Ltd,” he stated.
In October 2023, a California lower court ordered Mayweather to pay Zinni Media $1,638,542 in damages, $721,881.32 in prejudgment interest, $16,270 in attorney fees, and $285 in costs, totaling $2,376,978. Mayweather subsequently appealed this decision.
In a recent ruling on August 27, 2024, Eva McClintock, clerk of the appellate court, upheld the lower court’s decision. Nwankwo noted that despite the appellate court’s ruling, Mayweather has yet to pay the awarded amount, which is accruing interest at a rate of 10 percent per annum.
The court has authorized U.S. attorneys to enforce the judgment by targeting Mayweather’s 2015 Bugatti Veyron or his 2015 Ferrari LaFerrari Aperta, both valued above the owed damages.
Vanguard
Leave a Reply