Overeem and Golden Glory settle contract dispute
November 20, 2012
MMA Junkie reports that the parties in the Alistair Overeem-Golden Glory contract dispute have settled for an undisclosed amount according to a press release from the parties.
Lawsuits were filed in California and Nevada over the heavyweight severing his relationship with his former gym. Some background on the contract dispute can be found here.
As you may recall, Golden Glory and Knockout Investments (the legal entity that managed Overeem) claimed it had a right to 30% of Overeem’s earnings. The lawsuit filed in Nevada provided some insight into his UFC contract as it revealed a $1 million signing bonus, a merchandise cut and a percent of the buys from his PPVs.
One may recall that Golden Glory and KOI attempted to garnish Overeem’s wages from his UFC 141 fight. However, the attorneys for GG and KOI failed to provide a bond required to garnish wages and Overeem was paid. The settlement comes at a time when there are rumors that Overeem may be returning to the UFC as early as Super Bowl Weekend. If and when Overeem returns, we will see about his management and his pay with the UFC.