Golden Glory Still Going After Overeem, Look To Get Pay-Per-View Bonuses

[No More Sorrow]

Although Alistair Overeem was paid in full following this past weekend's UFC 141 event, reps for his former management team aren't throwing in the towel.

A Nevada court recently ruled that Knock Out Investments, a fighter management group associated with Overeem's former Golden Glory team, was due $241,285.49 due to breach of contract.

However, as MMAjunkie.com (UFC blog for UFC news, UFC rumors, fighter interviews and event previews/recaps | MMAjunkie.com) reported on Monday, a $200,000 surety bond wasn't posted, and Overeem earned his full "show" ($264,285.71) and "win" ($121,428.57) money following a first-round TKO victory over Brock Lesnar in the Dec. 30 event's headliner.

Nevada State Athletic Commission executive director Keith Kizer told MMAjunkie.com that he did not withhold any portion of the heavyweight's purse, as the Nevada judge order. A UFC official confirmed that the $200,000 bond required to execute the order was not deposited prior to the event.

"This was a short-term possibility that KOI and Golden Glory were prepared for," stated Roderick J. Lindblom, who's representing the fighter's former management team, in a release issued Monday evening. "Seeking the initial writ was merely the first step in a long-term litigation strategy that KOI and Golden Glory will prosecute in Nevada. The writ of attachment remedy remains fully available to my clients and will be sought as to Mr. Overeem’s future pay-per-view payout, which we expect will be more lucrative than his initial fight purse."

Overeem earns a portion of all pay-per-view revenue, including $2 per PPV purchase "for all revenues received by UFC-Zuffa for telecast of the Lesnar fight in the U.S., Canada or over the Internet in excess of $500,000," according to an Overeem contract made public by the legal proceedings.

"Rest assured, now that we have had the opportunity to troubleshoot complex international hurdles – and without a long holiday weekend to contend with – future writs of attachment will be utilized to ensure that Mr. Overeem makes good on the commissions owed to my clients and his Golden Glory training team, who helped him achieve the success he now enjoys," Lindblom stated.

The day before the court order, which came on Jan. 7, Golden Glory filed suit alleging Overeem did not pay a 30 percent commission owed to the team for a Strikeforce fight against Fabricio Werdum in June. In his suit, Overeem, who made his UFC debut at UFC 141, claimed the team owed him $151,000 in back pay and asked a judge to determine whether his management contract, which ran five years, is enforceable.

At the post-UFC 141 press conference, Overeem said he had no knowledge of the recent court order and declined further comment.

MMAJunkie.com

 

[The Cork]

GG are a cancer to the sport, I'd equate them to what Don King was to boxing in the '80s but without the plus points.

Thank god they are getting blacklisted out of MMA.

 

[Troy]

GG are a cancer to the sport, I'd equate them to what Don King was to boxing in the '80s but without the plus points.

Thank god they are getting blacklisted out of MMA.

I completely agree. Their method of getting paid first and then paying the fighter was ridiculous when it should always be the other way around. Hopefully or Overeem's sake this ends quickly so he can move on and forget about these guys.

Also $2 per PPV buy is a great cut of the buyrate, he should easily earn more than what he has already been paid for the fight just from the PPV bonus.