Biggie Smalls famously claimed, “Mo Money Mo Problems.” I wouldn’t know anything about that since my pockets are lined with nothing but lint.
However, there are reports surfacing that a lost lawsuit to former manager Sheri Spencer carrying hefty financial ramifications could be why UFC welterweight champ Georges St-Pierre (pictured) took a temporary leave from MMA.
In an interview with Quebec radio station 98.5 FM, St-Pierre’s former manager, Stephane Patry, suggested GSP’s bitter split with Spencer, who directed his career prior to Patry, might have something to do with St-Pierre’s decision to walk away from the UFC at the height of his career.
Spencer caught wind of the claim and promptly responded via Twitter, “@GeorgesStPierre may have 99 problems, but I ain’t one #learntofactcheck.”
However, TMZ.com – the same celebrity gossip website that initially reported the reason GSP is impermanently hanging up his MMA gloves because his father’s dying and he impregnated a woman who he doesn’t want to have a baby with but she insists on keeping the child (UFC president Dana White later refuted those rumors to the LA Times) – obtained court documents filed in Clark County, Nevada showing Spencer sued GSP for future earnings based on deals she helped close prior to their 2011 separation.
According to TMZ, the judge ruled in Spencer’s favor and St-Pierre cut her a $737,066.35 check in April. Apparently, that’s just the tip of the cha-ching iceberg.
The judge also allegedly ordered GSP to pay Shari’s management company 20 percent of future revenue on UFC pay-per-views he performs in, 20 percent royalties earned under a 2008 UFC merchandising deal and 5 percent of future revenues from sponsorships she apparently helped him earn with Affliction, RUSHFit and other companies.
It has been reported St-Pierre makes between $3-$5 million per fight from the UFC alone. So, you do the money train math.
The thing about the lawsuit factoring into St-Pierre’s decision to leave MMA is, if losing money is the driving force behind it, why would he quit his job? Is losing out on roughly 25 percent of your total earnings worth leaving 75 percent of millions of dollars on the table?
Wouldn’t that still be like cutting your nose off to spite your face?
Until St-Pierre gets ahead of this story and reveals the exact reason he abruptly announced he was temporarily leaving MMA following Saturday’s controversial victory over Johny Hendricks, which he most likely won’t, rumors will continue to spread like wildfire.