Canelo Alvarez Signs Richest Boxing Contract Ever: $375 Million For 11 Fights

Lynette Rowe
October 18, 2018

Saul "Canelo" Alvarez has signed the most lucrative contract in sport history, after agreeing a five-year, 11-fight worth $365million [£278 million] with DAZN, the United States digital sports streaming channel.

With HBO announcing it's quitting the business of broadcasting fights, Alvarez's management at Golden Boy Promotions opted to think outside the box when negotiating his next fight deal.

"We are thrilled to be exclusive partners with Golden Boy Promotions and Oscar De La Hoya", added John Skipper, executive chairman of DAZN Group.

He has a 50-1-2 career record with 34 KOs.

His next fight will be against Rocky Fielding at New York's Madison Square Garden on December 15 and the Guadalajara native has a strong chance of being named Forbe's Richest Athlete in 2019, particularly if a third bout with Golovkin materialises.

Promoter De La Hoya told ESPN: "Canelo is the highest-paid athlete in the world".

"This is only from my hard work", said Alvarez, speaking to ESPN after signing the contract. Boxing fans also stand to score as the middleweight champion - who is the sport's biggest star - will no longer fight on pay-per-view thanks to the new contract. "The most important thing is that fans can enjoy this fight at a very low price".

"It's 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".

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After besting Golovkin (and perhaps before that), Canelo is boxing preeminent Pay-Per-View draw in the modern era following Floyd Mayweather's dominant reign in the middle to lower weight classes. He said Alvarez's last three fights generated 3.6 million buys and almost a quarter of a billion dollars, making him someone who can be transformative to a subscription service focused largely - at least for now - on combat sports.

A subscription in the USA will cost $9.99 under the five-year term with Golden Boy, which will also oversee another ten fights that will stream on DAZN in 2019.

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

"I know I am in for a tough night", he added. The fight was the last of his broadcast deal with HBO, who recently announced they'll be exiting the boxing game after several decades.

"I've always liked a challenge, and this is yet another challenger in my career", said Canelo Alvarez.

Canelo's move to DAZN occurs at an uncertain, transitionary time for the sport of boxing.

Alvarez, 28, is from Mexico.

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