If Alistair Overeem isn’t already a wealthy man, he’s going to be after he gets done fighting for the UFC.
Well, that’s if lawsuits and legal fees don’t eat away at all the money he stands to make fighting for the sport’s top organization. The financial details of Overeem’s UFC contract were revealed today in a lawsuit his former management KOI/Golden Glory filed against Overeem in Clark County, Nevada this week claiming that they are entitled to 30% of his earnings.
ESPN’s Josh Gross filed the initial report detailing his contract.
In the complaint filed against Overeem and Lam Thursday, KOI alleges that “subsequent to the execution of the UFC contracts, Overeem made numerous public statements that KOI/GG breached its fiduciary to him and that there was ‘mistrust.’ Overeem claimed that Zuffa’s CEO, Lorenzo Fertitta told him in no uncertain terms that: there is a one million dollar ‘signing bonus;’ that the one million dollar signing bonus was Overeem’s money and that KOI/GG was ‘ripping him off’ and ‘stealing from him.'”
Pursuant to the terms of Overeem’s UFC contract as outlined in the complaint, he is guaranteed a “bout fee” of $264,285 on Dec. 30. Should he defeat Lesnar, Overeem would receive an additional $121,428 “win bonus.” Overeem is also in line to receive a $2 pay-per-view bonus per viewer, “for all revenues received by UFC-Zuffa for telecast of the Lesnar fight in the United States, Canada or over the internet in excess of $500,000.”
Terms of the contract also guarantee Zuffa would pay Overeem $1 million spread out evenly over the first three fights of his deal, which is potentially good for up to eight bouts. Overeem is also expected to receive intellectual property payments for worldwide marketing of his likeness or image.
Not that you need me to spell it out for you, but that’s BIG money folks.
Here’s KOI/GG’s lead counsel, Roderick J. Lindblom, explaining why they filed the lawsuit.
“The suit was filed for a very simple reason,” Roderick J.Lindblom, legal counsel for KOI and Golden Glory, told ESPN.com. “Alistair Overeem has been part of Golden Glory for 11 years. Knockout Investment has a management contract with him. The management agreement was from 2007 until 2012. They negotiated one of the largest MMA agreements in the history of the sport for him. And within days he accused them of some pretty shady stuff that is not true. And he has walked away from his contract.”
It’s unclear how all of this is going to shake out, especially with the lawsuit Overeem filed against them last month, however a judge did rule today to hold Overeem’s UFC 141 purse in escrow until they get this mess sorted out.
Despite all the legal drama, Overeem’s representative Collin Lam maintains that Alistair remains 100% focused on Brock Lesnar.
On a side note, Brock Lesnar will make a flat $400,000 fee tonight plus whatever he makes in pay-per-view bonuses.
Image via Dave Mandel for Sherdog