It was an instant classic of a boxing match between two former UFC rivals on July 6th. Nate Diaz got his shot at redemption, beating Jorge Masvidal by decision. Eight days after his win, the Stockton native witnessed his victory over ‘Gamebred’ getting tainted as he filed a lawsuit against the promotion, who put together the event, Fanmio. Based out of Miami Beach, California, Fanmio broke an agreement with Nate Diaz about a $10 million payout to fight Jorge Masvidal. But they didn’t fulfill their end of the bargain and handed him just $1 million.

The disappointed and angry 39-year-old decided to sue the company and its Founder-CEO, Solomon Engel, in the Southern District of Florida for $9 million. When UFC Hall of Famer Michael Bisping analyzed this situation, he didn’t see Diaz getting what he wanted out of this lawsuit.

Michael Bisping gives his assessment of Nate Diaz’s $9 million lawsuit

Nate Diaz claims that he got paid just 10 percent of the contracted amount for the fight stemming from the promoter’s martial issues. Worried that his wife might divorce him, Solomon Engel decided to cover up his losses with the money that was promised to the Stockton native. Meanwhile, Fanmio’s financial situation hasn’t been sound, which worries Michael Bisping because it could prove detrimental to Nate Diaz.

“Winning a lawsuit is one thing. Collecting from a lawsuit is very, very different. The amount of people that actually get paid when they even get a judgment or an award is very, very low, I believe,” said Michael Bisping on his ‘Believe You Me’ podcast with Anthony Smith. “In a position like this, a boxing promoter, they can just absolve the business [and] just declare bankrupt. That’s it, you’re done,” he added.

‘The Count’ further mentioned the financial headache that comes with filing lawsuits, claiming that “these things aren’t cheap.” Moreover, the legal fees that Fanmio would have to pay would simply make the company go bust, which would ultimately lead to Nate Diaz having nothing to show for the lawsuit he filed.

“Seems like it would be pretty much a slam dunk of a case, you know. But still, there’s going to be legal expenses there, which of course, Fanmio side, they’d have to pay that… but again you’re not going to get you’re award,” Bisping added. With the lawsuit news trending on the internet, Fanmio CEO Solomon Engel has decided to stay tight-lipped about this situation and even hit back at Nate Diaz for his accusations.

Fanmio Founder-CEO calls out Diaz for his “frivolous lawsuit”

Solomon Engel claims that there is no issue of pay at all. He’s done his bit, granting a seven-figure sum to Nate Diaz already, although he did not disclose the sum. Could he be referring to the $1 million the Stockton native received? We don’t know that yet but the Fanmio Founder-CEO has assured that he will prove his innocence about the contract breach charges while claiming that Diaz was trying to “harm his family.”

“Nate Diaz has filed a frivolous lawsuit against Fanmio which claims that fraud and breach of contract were committed by Fanmio, yet neither has taken place. In fact, Diaz has already been paid seven figures in connection with the fight. I look forward to resolving this dispute through the appropriate process and am confident that justice will prevail,” the Fanmio CEO wrote in a statement.

Fanmio has been involved in several big-time and high-profile events over the years. Remember the Floyd Mayweather Jr. vs Logan Paul fight? Yes, that was put up by Solomon Engel’s promotion. However, the Nate Diaz situation could spell the end of their business as we wait to see what comes out of this lawsuit. What are your thoughts about the lawsuit? Let us know in the comments below.