Overeem Paid in Full; Golden Glory Still in Pursuit

January 3, 2012

The legal dispute between current No. 1 UFC heavyweight contender Alistair Overeem and his former management team at Knockout Investment (KOI) and Golden Glory continues despite a court order in Golden Glory’s favor late last week.

Golden Glory’s legal team at The Law Offices of Roderick J. Lindblom, APC, filed to have Overeem’s UFC 141 fight purse held due to the ongoing dispute between the two sides.

After splitting from his former team and management, Overeem filed a suit in 2011 alleging that Golden Glory hadn’t paid him some of his earnings due, as well as a bonus from when he signed with the UFC, among other issues. Golden Glory fired back, claiming that Overeem’s suit was a preemptive strike against them because they believed that Overeem had neglected to pay them commissions that he contractually agreed to.

Golden Glory’s team at Lidblom filed a lawsuit in Nevada last week to have a portion of Overeem’s purse withheld so that he wouldn’t take the money and head back to Holland after the fight. Despite a Nevada court issuing a pre-judgment writ of attachment and garnishment that did just that, Overeem was still paid his fight purse in full.

Although the judgment was ordered, KOI and Golden Glory were first required to post a $200,000 bond in order to activate the $241,000 hold on Overeem’s fight purse. Due to the last-minute nature of the order heading into a holiday weekend, KOI/Golden Glory was unable to post the bond in time, thus Zuffa/UFC was not required to withhold the money.

“This was a short-term possibility that KOI and Golden Glory were prepared for,” said Lindblom. “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’s original lawsuit against KOI/Golden Glory has yet to reach a conclusion. So this strategy by KOI/Golden Glory is to have money from Overeem held up until an outcome is reached, in the hopes that the final determination is in Golden Glory’s favor, holding Overeem to a contract that requires him to pay management a percentage of his earnings.

Despite missing out on his UFC 141 earnings because of the bond, it’s apparent that KOI/Golden Glory now intends to use this approach on Overeem’s future fights as well.

“Rest assured,” said Lindblom, “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.”

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