19th September 2021 – (Hong Kong) Derek Cheung defeated Joshua Lam after 4 rounds of fight in a million-dollar boxing match titled “We Are Champs 2021” at around 11.25pm yesterday evening. Joshua Lam only sustained minor injuries on his lips. Derek Cheung, a trust fund baby who hails from a local billionaire family challenged Joshua Lam to a fight because Joshua needed HK$1 million for his insurance business 6 months ago. He offered him the prize money regardless of the outcome of the fight and Joshua accepted. One day before the fight, Derek even upped the ante by offering an extra one million dollar if Joshua could knock him out (KO) and he also confidently said that HK$300,000 would be deducted from the prize money if Derek successfully KO him.
Before the match, Joseph Lam took only 1 minute to appear on the ring while the host of the event, the ‘almighty’ Derek Cheung only made a grand appearance after the audience were forced to watch a painfully long 10-minute animated video on the big screen.
To everyone’s surprise, Joshua managed to dodge punches and ran around the ring during all the 4 rounds before Derek was finally announced winner (as expected). Joshua Lam, an amateur who has not received any formal training as a boxer before this challenge has clearly performed well against the bumptious Derek Cheung.
After the match, Joshua claimed that he has broken Derek’s nose but it was denied by Derek later. Joshua also admitted that his trainer was provided by Derek Cheung.
The audience present this evening were mostly friends and family members of Derek Cheung who cheered for him.