Boxer Alvarez signs $365M deal, richest contract in sports history

Sherman Parsons
October 20, 2018

Canelo Alvarez has signed a $365 million deal with streaming service DAZN, per the LA Times.

Oscar De La Hoya was one of the main casualties of the HBO Boxing pull out but he has also confirmed that the likes of Jorge Linares and Rey Vargas will also be fighting on DAZN with Golden Boy putting on ten shows a year on DAZN.

"There's no doubt about the appeal of boxing in the UK", Skipper said.

"I was never anxious because I'm very confident in myself", he said. This mammoth deal, which will span 5 years and 10 fights, is being called "the highest paid guaranteed contract in sports history" by Canelo's promoter Golden Boy Promotions. Look at Mike Tyson, he made like $500 million dollars. Already a major digital network for global soccer, the service is emphasizing combat sports in its USA debut because fights are major events and the rights to major league team sports are already spoken for. It aims to fill a hole left by HBO after it announced last month that after 45 years it would bowing out of boxing.

At 28, Alvarez is one of the most recognizable names in boxing, with a 50-1-2 career record and high-profile victories over Gennady Golovkin, Julio Cesar Chavez Jr., Amir Khan, Miguel Cotto and Shane Mosley, among other top contenders.

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DAZN's offering is cheaper.

He has just inked the largest contract in sporting history, an 11-fight contract with streaming service DAZN, worth a quite staggering $365 million (just over R5,2 billion). "We are in the subscription business".

Although Hearn was not involved in the deal to bring Alvarez to DAZN, the move is intriguing for the middleweight division if the pound-for-pound star - who has only lost to Floyd Mayweather - returns to 11st 7lb next year. DAZN is now the home of perhaps boxing's two biggest stars, Alvarez and heavyweight champion Anthony Joshua, who is promoted by Matchroom.

When asked why he didn't wait for the victor of the October 27 Danny Jacobs-Sergiy Derevyanchenko fight - especially considering that the former guaranteed that he would knock Alvarez out - Canelo's eyes widened for a moment, but he was largely unbothered.

Add that to his Manny Pacquiao money, and he's still doing alright.

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