According to the lawsuit, filed in L.A. County Superior Court, Overeem stupidly agreed to give his managers 35% of his pre-tax income in exchange for their services -- but the managers failed him miserably.
Overeem claims the managers have refused to pay him more than $151,000 in earnings -- including a bigtime bonus he was supposed to rake in when he signed with the UFC.
Overeem is suing for unspecified damages -- and he wants a court order to break his contract with the management team ASAP.
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