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.
While I understand he had great kickboxing training and all, 35 is pretty steep and while I agree with Mr Walsh that it probably won’t hold up in American court, if he’s not allowed to leave his contract he could be in breach in Holland and may have future problems there if he can’t get them to void the contract. They had mentioned some ominous contract shit when he left them so here’s hoping he didn’t fuck himself over for the future.
And here’s Mr. Walsh on the contract info itself:
From what we know Golden Glory contracts include free training as long as you are a part of the team, which for a lot of fighters the fees related to training can add up very quickly. It is also not unheard for in Europe to see management take 25 – 30% of fighter’s income.
So whatta you cats think? Is Overeem a big stoopid head for signing that much over? Was he horse-dumb in not reading his entire contract? Is GG shitty for the contract stips they tried to slip in? Alla the above?
I’m sure this contract was signed before the horsemeat hype fully kicked in. Now he’s finding out that top stars don’t give away over a 3rd of their FUCKING PRE-TAX income & he feels shafted. Honestly, I don’t think he got fucked. He wanted a deal & at the time, it was probably the best thing he could find. This sport is evolving, not just athletically, but also from the managing & promoting side of things. These guys need lawyers to review contracts & accountants to make sure the laywers & managers aren’t fucking them.
Poor Overcream is getting shafted left and right. I’m sure FEG owes him a grip that he will probably never see either. With the money at stake with these top guys they need to get some proper help signing these contracts. Probably easier said than done finding good trustworthy help these days for shit like that. Top level training camps don’t sound cheap so I am not sure if 30% is crazy or not. Rampage was said to have had a million dollar camp for the Bones fight. Sounds crazy.
Viewing 6 posts - 1 through 6 (of 6 total)
You must be logged in to reply to this topic.
There are 5 Older Comments about Ubereem sues Golden Glory