- A United States court has reaffirmed a previous ruling requiring Floyd Mayweather Jr., the retired boxing champion, to pay $2.4 million in damages to Nigerian-based Zinni Media Concept Limited for breaching a contract.
The conflict arose from a 2017 agreement between Zinni Media and Mayweather.
According to Alex Nwankwo, a media executive for the company, the agreement involved Mayweather making several appearances in Africa, including Nigeria.
However, Mayweather unexpectedly terminated the deal without providing any reason and declined to return the advance payment made by Zinni Media.
Nwankwo explained that Mayweather’s legal team argued that, due to Zinni Media being a Nigerian company, it fell outside the jurisdiction for a refund. “After several failed attempts to reclaim the appearance fees from the American boxer, the company initiated legal action against Mayweather in 2018, citing breach of contract, unjust enrichment, and fraud,” Nwankwo stated.
In October 2023, a lower court in California ruled in favour of Zinni Media, awarding $1.6 million in damages, $721,881 in prejudgment interest, $16,270 in attorney fees, and $285 in additional costs, bringing the total to $2.4 million.
Mayweather appealed the verdict, but on August 27, 2024, the California Court of Appeals, with clerk Eva McClintock issuing the decision, upheld the previous ruling. Despite the finality of the case, Mayweather has yet to pay the awarded damages.
Nwankwo added that the court instructed U.S. attorneys to enforce the judgment by targeting Mayweather’s assets, including his 2015 Bugatti GSV and 2015 Ferrari LaFerrari Aperta, both worth more than the owed amount. “We are grateful that two courts have granted a prayer by Zinni Media Ltd to impose terminating sanctions against Mayweather,” Nwankwo said.
Mayweather continues to face additional penalties as the unpaid judgment accrues interest at a rate of 10 percent annually
