Published: Wed, October 17, 2018
Sports | By Johanna Francis

Canelo Alvarez Signs $365-Million Fight Contract, Richest Deal Ever

Canelo Alvarez Signs $365-Million Fight Contract, Richest Deal Ever

The 28-year-old Alvarez, who holds both the WBA and WBC middleweight crowns, is coming off a victory in his rematch Gennady Golovkin last month, which netted him around $50 million.

De La Hoya is expected to announce the deal at Wednesday's press conference in NY to promote Alvarez's December 15 return at New York's Madison Square Garden when he moves up in weight to challenge secondary WBA super middleweight titleholder Rocky Fielding in the first bout of his new DAZN deal.

Alvarez's new contract is being described as the biggest in sports history by ESPN. However, HBO recently announced that it would be bowing out of boxing after 45 years showing some of the sport's biggest fights, paving the way for DAZN to swoop for coverage of Canelo's bouts.

According to ESPN, the agreement represents the richest athlete contract in sports history, eclipsing the US$325 million deal signed by Giancarlo Stanton in 2014 with Major League Baseball's (MLB) Miami Marlins.

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The boxer is represented by Golden Boy Promotions, the stable led by former champion Welterweight Oscar De La Hoya, the highest pay-per-view earner in boxing before Floyd Mayweather and Manny Pacquiao arrived on the scene. The Mexican boxer will receive additional proceeds from every fight if he surpasses the agreed-upon PPV benchmark for sales. De La Hoya told ESPN that in addition to Alvarez, Golden Boy signed an undisclosed deal to promote 10 cards annually on DAZN beginning in 2019. DAZN is charging its subscribers $9.99 per month, which - over time - translates to substantially less than the $85 pay-per-views to which boxing fans have become accustomed.

'Being part of this historic deal will require me to prepare myself even more and offer fans even better performances.

Will you be watching Canelo fight on DAZN this December?

They also broadcast the exciting World Boxing Super Series tournament in the US.

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