A few days after Alistair Overeem calmly and clearly explained why he split with his former management / training team Golden Glory, the gloves have come off in a full blown lawsuit:
Long story short — Overeem filed a lawsuit against his Netherlands-based management team — claiming they duped him into signing the worst MMA contract ever … and then tried to book him into high profile fights when he wasn’t healthy enough to perform.
According to the lawsuit, filed in L.A. County Superior Court, Overeem stupidly agreed to give his managers 35% of his pre-tax income in exchange for their services — but the managers failed him miserably.
Overeem claims the managers have refused to pay him more than $151,000 in earnings — including a bigtime bonus he was supposed to rake in when he signed with the UFC.
Overeem is suing for unspecified damages — and he wants a court order to break his contract with the management team ASAP.
I wonder if that ‘worst contract ever’ was with DREAM or Strikeforce? Or if he’s just talking about his agreement with Golden Glory? Typical manager percentages are usually half what Overeem was paying or even lower. But let’s not forget that Golden Glory also takes care of training and camps, which seems to be the new racket sucking a lot of money out of fighter pockets. To get a better idea on if Overeem has an actual case, let’s turn to the Fight Lawyer blog:
Turning to the crux of the complaint. Overeem lists a bunch of “failures” on the part of KOI and GG — chiefly, failures to pay, including money from FEG, Dream/K-1s parent, but he really alleges nothing specific, e.g., an amount. He also claims he was not “properly informed” and alleges that KOI and GG failed to “protect [his] interests.” Overeem also alleges that he believes KOI and GG received some undisclosed bonus arising from Overeem’s signing with the UFC–nothing more.
While certainly some of the provisions in the agreement could have been written more eloquently, whatever services Golden Glory provided, it seems pretty clear based on my read of the complaint (which is biased for Overeem) it is entitled to 35% of his pre-tax income and it also seems pretty clear that they have a trailing commission for a year even after the contract has expired. Some of the allegations arguably make KOI and GG look bad, e.g., allegedly managing him in jurisdictions where KOI and GG were not licensed and allegedly pushing him to fight when injured. But not sure that gets him around the 35% or somehow renders the management contract a nullity.
In any event, I read this quickly but sounds like Golden Glory has a nice little claim for the UFC 141 income, which would presumably include sponsorship money as well.
There’s a reason Frank Mir is always so gung ho about the idea of another fight with Brock Lesnar: it’s mega-bucks in the bank with Lesnar’s mega draw adding muchos dinero to Mir’s PPV bonus paycheck. Figuring that Brock’s return will once again result in a number above 1 million (and who knows how high it could be if the FOX debut heats things up), and Overeem could end up handing over 35% of a GSP level payday.