Friday, 23 August, 2019

Canelo Álvarez signs richest contract in sport history, worth $365m

Canelo Alvarez lands a left hand in his win over Gennady Golovkin in September. More Canelo Alvarez lands a left hand in his win over Gennady Golovkin in September. More
Shannon Reynolds | 17 October, 2018, 22:52

Canelo Alvarez has signed an 11-fight deal to have his fights shown on the sports-streaming service DAZN, beginning with his next bout.

His contract surpasses that of Giancarlo Stanton, who signed a 13-year, $325 million pact with the Miami Marlins in 2014.

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.

The move comes after DAZN, which only launched in the United States in September, looks to exploit a gap in the market after HBO announced it will end its 45-year history of broadcasting boxing at the end of 2018.

In the ever-changing world of boxing's splintered broadcasting market in America, Wednesday's announcement is a big one for DAZN considering it is now the home of the sport's two biggest global stars. "He's extremely happy", De La Hoya told ESPN after Alvarez signed his new contract. "I know how important I am to any platform I go to".

"It is very important for me to give the fans the biggest fights and the most important fights, and I promise you I will always do that". It cost $84.95 to be seen in high definition.

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

However, it will earn him more than £1m a week over the five years and Alvarez - beaten only by Floyd Mayweather in a 53-fight career - can increase his earnings if DAZN achieve pre-determined subscription targets.

That may prove problematic for fighters who have deals with other broadcasters.

That deal included a total of 16 bouts each year across the U.S. on top of Matchroom's existing 16 fight nights in the UK.

Overall, super, super stuff for boxing. "DAZN has the ideal platform to make this dream come true, and with the biggest star in the sport at the helm of this journey, I have no doubts that we will succeed in unimaginable ways".

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