No word yet on how many fans actually ordered the “Last Man Standing” pay-per-view (PPV), which cost $49.99 to stream live, but it sounds like Fanmio is going to lose money on the endeavor. A lot of money.
Fanmio is treating Nate Diaz like Geraldo Rivera treated Al Capone’s vault.
Sure, they put on a big show and made lots of promises; but in the end, there was no money to be found. According to a lawsuit Diaz filed in U.S. District Court on Monday, promoter Solomon Engel owes the Stockton slugger a whopping $9 million.
ESPN has an excerpt from today’s filing:
“In a flurry of desperate calls to Diaz’s representatives following the event, Engel despondently groveled that he was going to lose more money than he had anticipated on the event if he paid Diaz what he had promised and that his wife might divorce him because of the financial losses. Engel went so far as to threaten he might have to declare bankruptcy to avoid paying Diaz what he owed.”
Diaz was promised $1 million up front and $9 million on the backend.
That explains this expensive request from his longtime coach.
The “Last Man Standing” pay-per-view (PPV), featuring a rematch between Diaz and fellow UFC veteran Jorge Masvidal, appeared troubled from the start. In addition to moving its original date, Fanmio was forced to adjust its PPV price after fan backlash.
Diaz went on to defeat Masvidal by majority decision.