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A United States Court has reaffirmed a prior decision mandating former world boxing champion Floyd Mayweather Jr. to compensate Zinni Media Concept Limited, a Nigerian firm, with $2.4 million in damages for violating a contract.
The conflict originated from a 2017 agreement between Zinni Media and Mayweather.
As stated by Alex Nwankwo, the media executive of the company, the boxer was engaged to participate in a series of events in Africa, including Nigeria.
However, Mayweather unilaterally terminated the agreement without justification and declined to return the advance payment received from Zinni Media.
Nwankwo mentioned that Mayweather’s legal team argued that the Nigerian company was outside the jurisdiction for any refund. “After numerous unsuccessful attempts to retrieve the appearance fees from the American boxer, the company initiated legal proceedings against Mayweather in 2018, citing breach of contract, unjust enrichment, and fraud,” Nwankwo explained.
In October 2023, a California lower court ruled in favor of Zinni Media, awarding the company $1.6 million in damages, $721,881 in prejudgment interest, $16,270 in attorney fees, and $285 in other costs, culminating in a total of $2.4 million.
Mayweather filed an appeal against the ruling, but on August 27, 2024, the California Court of Appeals, represented by clerk Eva McClintock, upheld the lower court’s decision. Despite the resolution of the case, Mayweather has yet to settle the damages.
Nwankwo further noted that the court has instructed U.S. attorneys to enforce the judgment, targeting Mayweather’s assets, including a 2015 Bugatti GSV and a 2015 Ferrari LaFerrari Aperta, both valued above the owed amount. “We appreciate that two courts have supported Zinni Media Ltd's request to impose terminating sanctions against Mayweather,” Nwankwo stated.
Mayweather continues to incur additional penalties as the outstanding judgment accumulates interest at a rate of 10 percent per annum.