Paulie Malignaggi has agreed to a $75,000 buyout from his promotional contract with Lou DiBella, according to Dan Rafael of ESPN.com. Malignaggi (27-4, 5 KOs) had been with DiBella for over 10 years and says the split was amicable, despite disagreements on the direction of his career.
“If we remained together, we’d probably end up hating each other and neither of us wanted that,” said the former IBF Light Welterweight champion. “So the best thing to do is part ways and remain friends. But it’s not like I’m just walking away. I’m paying $75,000 to get out of the deal. I think it’s the best-case scenario for both parties.”
After contemplating retirement following his May loss to Amir Khan, Malignaggi plans to return to the fight game soon. He wouldn’t have dropped $75,000 if his intent was to stay retired. Malignaggi hopes to have his next fight in Europe, possible against Matthew Hatton.
