Michael Bisping feels for Nate Diaz in his current situation.
On Monday, Diaz filed a lawsuit against Fanmio in the U.S. District Court, claiming the company still owes him $9 million from his win over Jorge Masvidal in a July 6 boxing match after the promoter guaranteed Diaz a $10 million payday overall.
Bisping, along with co-host Anthony Smith, discussed the news on a recent episode of Believe You Me.
“It’s a really shitty situation for Nate Diaz,” Bisping said. “He upheld his end of the bargain. He did the training, sold the fight, went out there and competed, put on an absolute classic, and then doesn’t get paid.”
Bisping noted his experience competing in a hybrid combat event for UR Fight in 2016, grappling Chael Sonnen. The card also featured boxing, MMA, and even pro wrestling. Despite Bisping stating that the event didn’t do great financially, he was paid for his appearance.
The former middleweight champion was asked by Smith what he would do in the situation. While he understands why Diaz filed the suit, Bisping just isn’t sure that — no matter what the result is — Diaz will be made whole.
“Winning a lawsuit is one thing, collecting from a lawsuit is very, very different,” Bisping said. “The amount of people that actually get paid, or even get a judgement or an award, is very, very, low, I believe. And certainly in a position like this, a boxing promoter, they can just absolve the business, declare bankrupt — that’s it, you’re done.
“Not to mention the fact that it’s going to cost a fortune to sue the guy. These things aren’t cheap. It seems like it would be a pretty much slam-dunk of a case, but still, there’s going to be legal expenses there — which, of course, Fanmio’s side would have to pay that ... but again, you’re not going to get your award, you’re certainly not going to get your legal expenses.”
Fanmio CEO Solomon Engel responded to the suit on Monday with the following statement.
“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. Making salacious and defamatory statements to the media in order to harm my family and I has only strengthened my resolve to ensure that the truth will triumph.”
