Boxing icon Floyd Mayweather Jr. has been mandated by a United States Appellate Court to pay Nigerian firm Zinni Media Concept Limited a staggering ₦4.2 billion in damages due to a breach of contract and fraud allegations.
According to court documents obtained by Gistmania, the California Court of Appeal upheld a previous ruling that found Mayweather in violation of a contractual agreement. The arrangement required the former world champion to make several appearances in Africa, including one in Nigeria scheduled for June 2017. However, Mayweather failed to honor the contract, abruptly terminating it without justification and refusing to return the advance payment made by Zinni Media.
Despite numerous attempts by Zinni’s Chief Executive Officer, Prince Donatus Okonkwo, to negotiate a refund, Mayweather and his legal team contended that they were not liable due to the company’s operations being outside U.S. jurisdiction.
Subsequently, Zinni Media filed a lawsuit against the boxer, leading to a judgment on October 31, 2023. The lower court ordered Mayweather to pay $1,638,542 in damages, $721,881.32 in prejudgment interest, $16,270 in attorney fees, and $285 in costs.
Unhappy with the ruling, Mayweather appealed; however, the California Court of Appeal upheld the lower court’s decision on August 27, 2024.
In a statement following the verdict, Zinni Media’s media executive, Alex Nwankwo, expressed satisfaction with the appellate court’s findings, which affirmed Mayweather’s liability. “After several unsuccessful attempts to recover the appearance fees from the American boxer, the company instituted legal action against Mayweather in 2018, alleging breach of contract, unjust enrichment, and fraud,” the statement read.
Despite the court’s ruling and finality on the matter, Zinni Media reported that Mayweather has yet to comply with the payment, which continues to accrue interest at a rate of 10% per annum.
In an effort to enforce the judgment, the court has instructed U.S. attorneys to target Mayweather’s high-value assets, including a 2015 Bugatti Veyron and a 2015 Ferrari LaFerrari Aperta, both of which are valued well above the judgment amount. “We have consistently succeeded against Mayweather and his attorneys throughout this process, and we are committed to ensuring the enforcement of the judgment,” Zinni Media’s statement concluded.
