A court in the U.S. has ruled that former boxing champion Floyd Mayweather Jr. must pay $2.4 million to Zinni Media Concept Limited, a Nigerian company, over a breach of contract. The ruling stems from a deal made in 2017 between Mayweather and the Nigerian firm, which was later unilaterally canceled by the boxer.
The case was brought to light by Alex Nwankwo, the media executive for Zinni Media, who explained that the agreement initially required Mayweather to make appearances in Africa, including one in Nigeria. Zinni Media paid Mayweather a significant advance as part of the arrangement.
However, Nwankwo stated, “Mayweather canceled the contract without reason and refused to refund the advance payment made by our company.”
Zinni Media pursued legal action after unsuccessful attempts to retrieve the funds. According to Nwankwo, Mayweather’s legal team argued that the company, being based in Nigeria, had limited grounds to recover the fees in the U.S.
“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,” Nwankwo said.
He further added, “We appreciate that two courts have ruled in favor of Zinni Media Ltd.”
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In October 2023, a California lower court ruled that Mayweather should pay $1,638,542 in damages, $721,881.32 in prejudgment interest, $16,270 in attorney fees, and $285 in court costs, bringing the total to $2,376,978. Mayweather filed an appeal against this decision, but the ruling was upheld on August 27, 2024, by the appellate court, as confirmed by Eva McClintock, the court clerk.
Despite the court’s decision, Nwankwo expressed frustration that Mayweather has not yet paid the damages, which are accruing interest at a rate of 10 percent per year. To enforce the judgment, U.S. attorneys have been authorized to seize assets belonging to Mayweather, including his high-value luxury cars. These vehicles, which include a 2015 Bugatti Veyron and a 2015 Ferrari LaFerrari Aperta, are both valued higher than the total damages Mayweather owes.