Artem Lobov lawsuit could cost Conor McGregor $20M+ as he's asked to reveal profits from $600 million sale of whiskey company

Artem Lobov's lawsuit against Conor McGregor could result in a loss of over $20 million for the Irishman. In Sept. 2018, McGregor launched his Proper No. Twelve Irish Whiskey brand, which soon witnessed exponential growth. The UFC icon, his business partner/manager Audie Attar and entrepreneur Ken Austin each held a significant stake in the brand.

In 2021, it was reported that the trio sold most of their stake to the U.S.-based Proximo Spirits organization in a deal worth upwards of $600 million. McGregor was reported to have earned around $150 million from the sale, per Forbes. Later in 2022, however, Lobov sued McGregor in relation to Proper 12.

'The Russian Hammer' claimed he conceptualized the brand and helped McGregor considerably during its initial stages. Lobov accused 'The Notorious' of eventually sidelining and not adequately compensating him. McGregor reportedly offered Lobov $1 million, but the latter turned it down.

Artem Lobov has been demanding five percent of the amount his former friend, Conor McGregor, earned from the brand's 2021 sale. For his part, 'The Notorious' lambasted Lobov on social media, particularly on X (formerly Twitter), branding his former friend and training partner a "rat." Lobov responded by filing a defamation lawsuit against the former UFC featherweight and lightweight champion.

As reported by The Sun, Ireland's Dublin High Court has given McGregor time till tomorrow to reveal how much he profited from the 2021 sale. While estimates of his earnings from it are around $150 million, 'The Notorious' himself hasn't revealed the official number yet.

Regardless, it's believed that if Conor McGregor loses the case, he'd possibly have to pay more than $20 million to Artem Lobov. Both the compensation and defamation cases filed by Lobov against McGregor are underway at the Dublin High Court.

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Artem Lobov was asked to pay Conor McGregor's legal fees in defamation lawsuit

Around the time of Christmas in 2022 (i.e., Dec. 2022), Mr. Justice Garrett Simons rejected Artem Lobov's application concerning his defamation lawsuit wherein he (Lobov) had demanded that Conor McGregor pay his legal fees. The same judge also previously rejected Lobov's defamation lawsuit.

As for the defamation application, it was rejected on the grounds of freedom of speech. It was added that Lobov would have to pay McGregor's legal fees, albeit only after their case was over. Besides, he wouldn't have to pay the fees if McGregor is proven guilty.

Meanwhile, boxing legend Manny Pacquiao too had lost a case against the Irishman, owing to which 'PacMan' was ordered to pay him around $5.1 million. 'The Notorious' took to X, in a since-deleted tweet, demanding that Lobov and Pacquiao financially compensate him. McGregor also jibed that Lobov probably won't be able to and would likely lose his house in the process.

Nevertheless, as indicated in the report by The Sun, Lobov's compensation and defamation lawsuits against McGregor are currently active in the Dublin High Court. Fans can expect additional case details to unravel soon.

Artem Lobov is considered retired from all forms of professional fighting, having last competed in bare-knuckle boxing in July 2021. Meanwhile, Conor McGregor, who has been on an injury hiatus since July 2021, is scheduled to return in a welterweight MMA bout against Michael Chandler at UFC 303 (June 29, 2024).