A US court has affirmed the decision that Floyd Mayweather Jr. is required to pay $2.4 million to Zinni Media Concept Limited, a Nigerian firm, for violating the terms of their contract.
According to a statement from Alex Nwankwo, the company’s media executive, Zinni Media reached an agreement with Mayweather to make various appearances in Africa, including one in Nigeria, in June 2017.
However, the former boxer unilaterally terminated the deal without cause and refused to reimburse the company for the advance payment paid for the service.
Nwankwo claimed that Mayweather’s legal representatives implied that because the company was not based in the US, the boxer could not make any refund.
“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 reads.
In October 2023, a lower court in California ruled that Mayweather should pay Zinni $1,638,542 in damages, $721,881.32 in prejudgment interest, $16,270 in sanctioned attorney fees, and $285 in costs. The total compensation amount ordered was $2,376,978.
The boxer, however, appealed the judgment before the California court of appeals.
In the latest ruling, dated August 27, 2024, Eva McClintock, clerk of the appellant court, affirmed the lower court’s verdict. Nwankwo noted that despite the appellate court’s ruling, Mayweather has yet to pay the awarded amount, which is accruing interest at a rate of 10 percent per annum.
The court has authorized U.S. attorneys to enforce the judgment by targeting Mayweather’s 2015 Bugatti Veyron or his 2015 Ferrari LaFerrari Aperta, both valued above the owed damages.
#Instablog9jaNews #Information #Awareness #StayUpdated
