Boxing legend, Floyd Mayweather Jr, has been ordered by a United States Appellate Court to pay a Nigerian company Zinni Media Concept Limited, the sum of ₦4.2 billion in damages over breach of contract and fraud.
In the court documents sighted by Pulse, the court of appeal of the State of California upheld the lower court ruling, which found Mayweather guilty of breach of contract agreement.
The company had entered into an agreement with the former world champion requiring him to make different appearances in Africa, including one in Nigeria in June 2017.
However, the pugilist didn’t fulfil the agreement but instead terminated it without cause and refused to reimburse the advance payment made by the company for the service.
Despite attempts by the Chief Executive Officer Zinni, Prince Donatus Okonkwo, to seek an amicable reimbursement from Mayweather, the boxer and his initial legal representatives argued that he could not make any refund because the company was outside of the U.S. jurisdiction.
Consequently, the company sued the American and in a judgement delivered on October 31, 2023, the lower court ordered him to pay Zinni $1,638,542 in damages, $721,881.32 in prejudgment interest, $16,270 in sanctioned attorney fees, as well as $285 in costs.
Dissatisfied with the judgement, Mayweather filed an appeal but the California Court of Appeal upheld the lower court ruling in a judgement on August 27, 2024.
Reacting to the judgement in a statement, the company’s media executive, Alex Nwankwo, said the appellate court found merit in the lower court ruling, which found Mayweather guilty.
“After several unsuccessful attempts to recover the appearance fees from the American boxer, the company instituted a legal action against Mayweather in 2018 where it alleged breach of contract, unjust enrichment and fraud against the former champion.
”We are grateful that two courts have granted a prayer by Zinni Media Ltd to impose terminating sanctions against Mayweather,” the statement partly read.
The statement noted despite the ruling of the court of appeal and finality on the case, Mayweather had still refused to pay the judgment money which continues to grow at 10% per annum.
In a bid to enforce the judgement, the court has gone ahead to instruct US attorneys to target Mayweather’s 2015 Bugatti GSV or his 2015 Ferrari LaFerrari Aperta, both valued over the judgment amount, Zinni Media Ltd further stated in its release.
“We have already defeated Mayweather and his attorneys on numerous occasions during the proceedings so the enforcement of the judgement will be duly applied.
“Our forensic investigators have also uncovered a substantial number of Mayweather’s valued assets showing that he was very successful but clearly overstating his true net worth”, the statement added.
