In a significant legal development, a U.S. court has confirmed that former world boxing champion Floyd Mayweather Jr. must pay $2.4 million in damages to Zinni Media Concept Limited, a Nigerian company, due to a breach of contract. This ruling follows a protracted legal battle stemming from an agreement made in 2017.
Background of the Case
According to a statement from Alex Nwankwo, Zinni Media’s media executive, the company entered into a contract with Mayweather in June 2017, which required the boxer to make several promotional appearances in Africa, including a notable event in Nigeria. However, the agreement was terminated unilaterally by Mayweather, who failed to refund the advance payment made by Zinni Media.
Nwankwo revealed that efforts to recoup the appearance fees were met with resistance from Mayweather’s legal team, which argued that the boxer could avoid refunding the money because Zinni Media was not based in the United States. “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.
Court Rulings and Financial Implications
In October 2023, a lower court in California ruled in favor of Zinni Media, ordering Mayweather to pay a total of $2,376,978. This amount includes $1,638,542 in damages, $721,881.32 in prejudgment interest, $16,270 in attorney fees, and $285 in costs. Following this ruling, Mayweather filed an appeal.
However, in a subsequent ruling on August 27, 2024, the appellate court, represented by clerk Eva McClintock, upheld the lower court’s decision. Despite the confirmation of the judgment, Nwankwo noted that Mayweather has yet to fulfill his financial obligations, and the awarded amount continues to accrue interest at a rate of 10 percent per annum.
Enforcement of the Judgment
In light of Mayweather’s failure to pay, the court has authorized U.S. attorneys to enforce the judgment by targeting high-value assets owned by the boxer. Notably, this includes Mayweather’s luxurious 2015 Bugatti Veyron and his 2015 Ferrari LaFerrari Aperta, both of which are valued above the amount owed to Zinni Media.
This case underscores the complexities of contractual agreements in the entertainment industry and highlights the challenges that international companies may face when dealing with high-profile figures. As the legal process unfolds, all eyes will be on whether Mayweather will ultimately comply with the court’s ruling or if further legal measures will be necessary to ensure Zinni Media receives the compensation awarded to them. The situation remains a pivotal point in the ongoing discussion about accountability and contract enforcement in the global arena.
