Kingpyn allegedly lost $4 million from first boxing event

After the company has come under fire for failing to pay its fighters and event staff, Wade Plem has alleged that Kingpyn lost millions of dollars on their first event.

While KSI’s Misfits Boxing has spearheaded the space forward, earlier this year new promotion Kingpyn looked to break into the scene with their ‘High Stakes’ influencer-boxing tournament. Although it hasn’t been a smooth ride.

In the build-up to Kingpyn’s second event, hosting the tournament’s semi-final fights, there were rumblings that the company had filed for bankruptcy, until streaming service DAZN stepped in to save the day.

Since the semi-finals, fighters and event staff have accused the company of failing to pay what they’re owed. And now, YouTuber and commentator Wade Plem has alleged that the company lost millions on their first event.

Wade Plem claims Kingpyn lost millions on first event

Following reports that Kingpyn has failed to pay a number of their fighters or event staff, going completely unresponsive, in a video on August 25, Wade “exposed” the truth as to what’s going on.

In his own experience, Wade alleged that Kingpyn failed to pay him and FaZe Sensei what they were owed for their commentating work on the first event, before explaining the company lost a “substantial” amount.

“They lost a substantial amount of money,” he said. “To the tune of what I’ve heard, three to four million dollars on the first event.”

Wade even took some of the blame himself for Kingpyn’s losses. While acknowledging that he tried his best to promote the events, he explained he maybe didn’t do as well as he should’ve.

He added: “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.”

(Timestamp at 4:46)

The final of the ‘High Stakes’ tournament was set for August 5, where fans expected to see King Kenny and AnEsonGib go blow for blow to be crowned Kingpyn’s champion.

Similarly, Jully Poca and 6ar6ie6 were expected to touch gloves for the female title. However, there has since been no word regarding the rescheduling of the event.