Brooklyn Nets star James Harden got punched in the face when his $2 million investment on a celebrity boxing match flopped big time. Now, he wants to get his money back after the organizers failed to deliver on the promised profits.
According to a Page Six, the lawyers of the Nets guard are suing the organizers of the “Social Gloves: Battle of the Platforms” celebrity boxing match that pitted TikTokers versus YouTubers. YouTube star Austin McBroom organized the exhibition, and he put himself as the main event where he fought TikToker Bryce Hall.
The event also featured performances from artists such as DJ Khaled, Migos and Lil Baby.
Harden invested after he was promised to earn $400,000 in profits. Unfortunately, the event flopped and actually saw $10 million in losses, per Billboard. The expected millions of pay-per-view customers ended up just a little over a hundred thousand, with just 136,000 fans paying the $50 fee to watch the event.
Now, the Nets star and his camp reportedly wants to get $2.4 million, which accounts for the investment along with the promised profits.
It remains to be seen how the lawsuit will progress. However, Harden and Co. might have a hard time getting back what they are owed. According to the same Page Six report, Simply Greatness Production–McBoom's company that handled the event–wrote to their creditors to inform them of a possible filing for bankruptcy if they are not able to work out the finances with them.
“In light of the apparent underperformance of the Event, our firm has been retained to represent SGP in connection with either a workout of the claims of all of its creditors or if a workout is not feasible a likely bankruptcy filing.”
Big yikes for James Harden. However, the Nets star have certainly learned his lesson from it–a $2 million one that is.
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