Floyd Mayweather faces a $2.4 million payment to a Nigerian firm following a court ruling in the US. Discover the details of the case and the judgment.
A U.S. court has upheld a prior decision mandating retired boxing champion Floyd Mayweather Jr. to pay $2.4 million in damages to Zinni Media Concept Limited, based in Nigeria, for breaching a contract.
The dispute originated from an agreement made in 2017 between Zinni Media and Mayweather.
Alex Nwankwo, a media executive at the company, stated that as part of the agreement, Mayweather would make several appearances in Africa, including Nigeria.
Nevertheless, Mayweather unexpectedly ended the agreement without offering any explanation and refused to refund the advance payment made by Zinni Media.
Nwankwo clarified that Mayweather’s legal team contended Zinni Media, being a Nigerian company, was beyond the jurisdiction for obtaining a refund.
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“Following numerous unsuccessful efforts to recoup the appearance fees from the American boxer, the company filed a lawsuit against Mayweather in 2018 on grounds of breach of contract, unjust enrichment, and fraud,” Nwankwo indicated.
In October 2023, a California lower court decided in favor of Zinni Media, granting them $1.6 million in damages along with $721,881 as prejudgment interest. Additionally, they were awarded $16,270 for attorney fees and $285 to cover other costs, culminating in a total award of $2.4 million.
Mayweather challenged the verdict, but on August 27, 2024, the California Court of Appeals affirmed the previous ruling with a decision issued by clerk Eva McClintock. Despite this conclusive outcome, Mayweather has not yet paid the awarded damages.
Nwankwo mentioned that the court directed U.S. attorneys to carry out the judgment by targeting Mayweather’s assets, such as his 2015 Bugatti GSV and 2015 Ferrari LaFerrari Aperta, which are both valued higher than what is owed. “We appreciate that two courts have granted Zinni Media Ltd’s request for terminating sanctions against Mayweather,” Nwankwo stated.
Mayweather continues to incur further penalties as the unpaid judgment accumulates interest at an annual rate of 10 percent.
