Mike Tyson is facing a lawsuit amounting to over $1.5 million from a Cyprus-based organization, which accuses the ex-heavyweight boxing champion of improperly terminating a promotional agreement to engage in a fight with social media influencer Jake Paul.
The legal action has been initiated by Medier, which represents the betting company Rabona, and it has been filed in the High Court of London against both Tyson and his firm, Tyrannic.
According to the lawsuit, Tyson is alleged to have ended the contract in March by claiming that Medier failed to uphold their end of the agreement, which was originally signed in January.
The lawsuit contends, “The real motivation behind the swift and unlawful termination by Mr. Tyson and Tyrannic was the arrangement made by Mr. Tyson to participate in a Netflix-sponsored fight against influencer Jake Paul.”
Medier is seeking to reclaim over $800,000 paid to Tyson as part of the agreement, stating that no services were rendered in exchange. Additionally, they are requesting $729,000 for expenses related to production and promotion that they deem wasted due to this situation, as per the documents filed.
The 58-year-old Tyson reportedly earned $20 million from last month’s unremarkable match against the 27-year-old Paul, which attracted over 70,000 spectators at the venue for the NFL’s Dallas Cowboys. Paul ultimately secured victory through an eight-round unanimous decision, with the fight being live-streamed on Netflix.
In response, Tyson’s legal representatives assert that Medier violated the terms of the contract by not obtaining Tyson’s consent for promotional materials.