Wade Plem recently claimed that Kingpyn lost millions of dollars on their first event. Additionally, the firm came under heat for not paying its combatants and event employees.
While KSI’s Misfits Boxing has been leading the charge in the realm of influencer boxing events, the emergence of Kingpyn earlier this year brought a new contender to the stage.
With their ambitious ‘High Stakes’ influencer-boxing tournament, Kingpyn aimed to make a mark in the industry. But their journey has been far from smooth sailing.
Kingpyn’s second event was set to host the semi-final matches of the ‘High Stakes’ tournament. But leading up to the event, rumors began swirling that the company was on the brink of bankruptcy. The situation took an unexpected turn when streaming giant DAZN stepped in to salvage the situation.
Following the conclusion of the semi-finals, disturbing reports emerged from combatants and event staff accusing Kingpyn of failing to honor its financial commitments. These allegations have created a cloud of uncertainty and mistrust, tarnishing the company’s reputation.
Additionally, YouTuber and commentator Wade Plem recently claimed that Kingpyn suffered massive losses during its debut event. Wade “exposed” the truth in a video on August 25 in response to claims that Kingpyn had failed to pay a lot of its combatants or event crew.
In his video, Wade provided insights into the situation. He recounted his personal experience of not being compensated adequately for his commentating efforts during Kingpyn’s first event.
According to Wade, “They lost a substantial amount of money. To the tune of what I’ve heard, three to four million dollars on the first event.”
Wade also took accountability for his role in Kingpyn’s financial predicament. Despite his efforts to promote both the first and second events, he acknowledged that there might have been areas where he could have done better.
He candidly stated, “A massive massive casualty because they’ve overpaid and undersold with the fighters. Myself, I can take some responsibility there. I tried my best to promote the first card and the second. Maybe I didn’t do as good a job as I should have. That’s on me.”
The ‘High Stakes’ tournament finale was initially slated for August 5, with highly anticipated matches featuring King Kenny against AnEsonGib for the Kingpyn champion.
Likewise, it was anticipated that Jully Poca and 6ar6ie6 would compete for the female title. However, nothing has been said since about the event’s rescheduling yet.