Nate Diaz Files Lawsuit Against Fanmio, Seeks $9 Million Owed for Masvidal Bout

Former Ultimate Fighting Championship star Nate Diaz is feeling a little light in the wallet following his recent boxing match against Jorge Masvidal .

According to a report from TMZ Sports , Diaz has filed a lawsuit in U.S. District Court in Miami alleging that Fanmio CEO and founder Solomon Engel is unwilling to pay the full $10 million that was agreed upon prior to the July 6 bout. Diaz has claimed that Engel has only paid $1 million of that purse. The Stockton, California, native was expected to receive the remainder of the sum, which he was told was being held in a collection account, from Fanmio after the fight.

“Diaz and his representatives were skeptical that Fanmio and Engel had the financial resources to fund the payments, but they were assured repeatedly that Fanmio and Engel had the financial resources to pay Diaz and that any payments owed to Diaz for participating in the boxing event would be fully guaranteed,” read a copy of the lawsuit obtained by MMAjunkie.com .

According to the suit, Diaz’s services, which included interviews, press conferences and social media promotion — in addition to the fight itself — “well exceeds $20 million.”

The document also states that Engel claimed he would lose more money than expected on the event if he paid Diaz his contracted amount.

“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,” the suit states. “Engel went so far as to threaten he might have to declare bankruptcy to avoid paying Diaz what he owed.”

Diaz defeated Masvidal via split decision at a sold out Honda Center in Anaheim, California on July 6. The event was also available via pay-per-view, though buy rates for the card are not available. The bout was a rematch of a fight at UFC 244 in November 2019, which Masvidal won via doctor stoppage after three rounds to claim the promotion’s inaugural BMF title.

“Unfortunately, Diaz has been given no choice but to now sue Fanmio and Engel to address their blatant breach of contract and fraud, and recover the money Diaz is indisputably owed,” the lawsuit states.

Engel has since released a statement denying the accusations levied by Diaz.

“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," Engel stated. "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.”

Editor's note: This item was updated at approximately 8:04 p.m. ET to include a statement from Engel.