Last updated: December 16, 2024
Mike Tyson and his company, Tyrannic, are facing a $1.5M lawsuit filed by marketing agency Medier in London’s High Court. Medier accuses Tyson’s team of breaching a promotional contract by abruptly terminating the deal in favor of a Netflix opportunity.
Mike Tyson is being sued for over $1.5M by marketing agency Medier, which alleges breach of a promotional contract in a filing with London’s High Court. The dispute stems from Tyson and his company, Tyrannic, terminating their agreement with Medier earlier this year.
Medier claims it paid Tyson $800,000 for promotional services that were never delivered. Additionally, the agency is seeking $729,000 for production and marketing costs it incurred before the agreement was terminated.
The boxing match between Mike Tyson and the social media influencer turned boxer, Jake Paul, raised a lot of eyebrows, but it was followed by a record-breaking viewership; reportedly, 108 million people watched the event in November.
Still, not everyone has come to celebrate the results that have come about. Medier, a marketing company, is among the list of people not pleased with the results according to a recent filing in London’s High Court this week.
Medier has sued both the sports legend and his company, Tyrannic, for more than $1.5m in what the marketing agency claims is an illegally terminated promotional deal this year.
The lawsuit outlines these costs further noting that $800,000 of this spending is fees paid to Tyson for which no services have been provided; additionally, it also includes $729,000 that might be traced to lost manufacturing and advertising spending, neither of which yielded any real value to the agency.
In fact, Medier was countering Tyson’s argument that the marketing agency had breached its contract with them, and that is why its services were canceled.
According to the promoter, that reality was that Tyson should agree to a deal with Netflix that would eventually turn out much more profitable in the long term. The decision forced him to promptly withdraw from all his existing engagements with Medier.
At this stage, Tyson’s team asserted that while breach of agreement occurred, the agency defaulted on the terms of its contract several times.
“It is the company’s position that Medier, Ltd. materially breached the terms of its license agreement on multiple occasions and in various ways,” Tyson’s team stated.
Medier, however, insists that Tyson prioritized a more lucrative deal with Netflix over his existing commitments. According to the marketing agency, Tyson’s team terminated the contract to pursue the streaming deal and falsely accused Medier of breaching the agreement.
This claim has been denied by Tyson’s team, and the disagreement is now at the center of the lawsuit.
Tyson reportedly earned $20 million for his fight against Jake Paul. The bout, which Tyson lost with scores of 80-72, 79-73, and 79-73 across three rounds, was a major spectacle, drawing widespread attention but also stirring contractual controversies.
