Mike Tyson Sued for Breach of Contract

LONDON (Reuters) – Mike Tyson is being sued in a London court for nearly 1.5 million euros ($1.59 million) due to an alleged breach of a deal to promote a gambling company in order to fight social media influencer-turned-prizefighter Jake Paul.

Medier, a Cyprus-registered company that promotes online casino and betting company Rabona, filed the lawsuit against the former heavyweight champion and his company Tyrannic, claiming he reneged on their agreement made in January.

The lawsuit, submitted to London's High Court in October, claims Tyson ended the deal in March, coinciding with the announcement of his fight with Paul. Medier alleges that their actions did not breach the contract and that Tyson's actions have caused losses of approximately 1.46 million euros.

>The company's lawyer stated, "The true reason for Mr. Tyson and Tyrannic's hasty and unlawful termination was because Mr. Tyson had agreed to a deal, sponsored by Netflix (NASDAQ:NFLX), to fight influencer Jake Paul."

Tyson and Tyrannic have yet to respond to the lawsuit, and Tyson was unavailable for comment at the time.

Paul, 27, defeated the 58-year-old Tyson by unanimous decision in Texas last month, in a fight streamed live on Netflix that didn't meet its significant expectations.