Lil Baby was reportedly an investor in the failed "Social Gloves" boxing event, according to a lawsuit from TikTokers Tayler Holder and Nate Wyatt against organizer Austin McBroom. McBroom, who is best known for the ACE Family YouTube vlog channel, promised hundreds of millions in earnings to investors for his event on June 12th. In reality, "Social Gloves: Battle of the Platforms" only sold 136,000 pay-per-view tickets for packages between $49.99 and $89.99.
The lawsuit reveals that Baby and Brooklyn Nets star James Harden combined to put $2 million into the lackluster pay-per-view. Investor material claimed that the event would bring in $200 million to $500 million.
Page Six reports that Harden claims he is owed roughly $2.4 million.
The pay-per-view featured fights between Six YouTubers, including McBroom, and six TikTokers. They compared expectations to the Logan Paul vs. Floyd Mayweather fight.
After the underwhelming performance, legal representatives for Simply Greatness Productions sent a letter to creditors: "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."
[Via]