McGregor settles High Court case over whiskey brand
Summarized and contextualized by DistantNews.
TLDR
- Mixed martial arts fighter Conor McGregor has settled a multi-million euro legal case with his former friend and sparring partner Artem Lobov.
- Lobov sued McGregor over an alleged agreement for a 5% share of the proceeds from their whiskey brand, Proper No Twelve.
- The details of the settlement were not disclosed in court, but both parties expressed satisfaction with the resolution.
A significant legal dispute involving Irish MMA superstar Conor McGregor and his former associate Artem Lobov has been amicably resolved in the High Court. The case centered on an alleged oral agreement concerning the hugely successful Proper No Twelve whiskey brand, which Lobov claimed entitled him to 5% of the proceeds. Lobov asserted he was a co-founder who was later 'muscled out' of the venture.
A multi-million euro legal case taken against mixed martial arts fighter Conor McGregor over a whiskey brand has been settled at the High Court.
McGregor, who reportedly earned over โฌ100 million from the brand's sale, acknowledged offering Lobov $1 million for his contributions but denied the existence of a formal agreement on sales proceeds. Lobov rejected this offer, leading to the legal action initiated in 2022. The case was poised for an eight-day trial but was settled just before proceedings were due to begin.
Mr Lobov alleged there had been an agreement between the men that he would get 5% of the proceeds of the sale of the brand.
While the specifics of the settlement remain confidential, both McGregor and Lobov conveyed their contentment with the outcome. McGregor stated he was satisfied the matter was resolved, allowing him to concentrate on his upcoming fight, and thanked Lobov for his past work. Lobov, though declining to speak to the media, indicated his happiness with the resolution. This settlement brings a close to a high-profile dispute, underscoring the complexities that can arise from business ventures, even among close associates.
Mr McGregor admitted that he later offered Mr Lobov $1 million in recognition of work done to develop a whiskey brand but denied there was an agreement over the proceeds of the sale of Proper No Twelve.
Originally published by RTร News. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.