Floyd Mayweather to lose his Bugatti and Ferrari after failing to pay $2.4million to a Nigerian company
A court in California, USA, has ordered legendary boxer Floyd Mayweather to pay $2.4 million to Nigerian company Zzini Media Concept Limited after being found guilty of breaching an agreement to make promotional visits to African countries, including Nigeria.
According to multiple reports in the Nigerian media, Mayweather was also found guilty of fraud by the California Court of Appeal.
The case centers on a deal between Zzini Media Concept and Mayweather, which required him to make several visits to Africa, beginning with a trip to Nigeria in June 2017.
Mayweather, however, failed to fulfill his part of the agreement, leading the company to pursue reimbursement through legal channels.
Mayweather’s team reportedly argued that, since the company was not based in the US, it lacked the authority to compel payment. Nevertheless, Zzini Media Concept filed a lawsuit in a lower court, where they prevailed.
The court ordered Mayweather to pay $1,638,542 in damages, $721,881.32 in prejudgment interest, $16,270 in attorney fees, and $285 in court costs.
Despite Mayweather’s appeal, the California Court of Appeal upheld the lower court’s ruling on August 27, 2024.
In response to the court’s decision, Alex Nwankwo, an executive at Zzini Media Concept, stated that the company’s victory stemmed from a strong case. He explained, “After several unsuccessful attempts to recover the appearance fees, the company filed a legal action against Mayweather in 2018, alleging breach of contract, unjust enrichment, and fraud.”
“We are grateful that two courts have granted Zzini Media Ltd’s request to impose sanctions against Mayweather,” the statement continued.
Mayweather has reportedly refused to pay the amount, prompting the court to issue a fresh order targeting his assets, specifically his 2015 Bugatti GSV or his 2015 Ferrari LaFerrari Aperta.
The company’s statement further noted, “We have already defeated Mayweather and his attorneys numerous times in these proceedings, so the enforcement of the judgment will proceed. Our forensic investigators have also uncovered substantial assets indicating that Mayweather has been overstating his net worth.”
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Source: www.ghanaweb.com
