“In my role as the manager and trainer of Saul ‘Canelo’ Alvarez, I would like to inform the boxing community and all of our fans that Canelo will become a free agent starting today, November 6th. So we are ready to continue. ”With his boxing career,“ said manager Eddy Reynoso in a press release.
“The whole time we worked very hard in the gym with a lot of responsibility and discipline to be in good physical shape and ready to fight this year, and it will be!”
“We’ll be announcing the date, rivals, and place very soon, and we’ll be returning stronger than ever to keep growing and showing that Mexican boxing is the best.”
Alvarez has seen his career stall as issues with Golden Boy and DAZN worsened.
DAZN signed Alvarez a massive $ 365 million contract over a five-year period in 2018. Earlier this year, DAZN looked for a reduction in the amount Canelo would pay to step down in the ring. This was apparently due to a combination of financial concerns over the COVID-19 pandemic, DAZN’s standard financial troubles, and the streaming service that claimed Alvarez had breached its contract by not fighting a “major opponent” every year.
In September, Alvarez and his team filed a lawsuit against DAZN and Golden Boy over the situation, demanding at least $ 280 million in damages based on what was still owed to him (plus lost sponsorship and gate income) . Since then, they have tried to establish Canelo as a freelance agent where he could land lots of money for seemingly any fight.
Golden Boy Promotions President Oscar De La Hoya confirmed the news with
.Statement from Oscar De La Hoya on parting ways with Canelo Alvarez pic.twitter.com/01kPN90gAd
— Mike Coppinger (@MikeCoppinger) November 6, 2020
“The lawsuit has been resolved to everyone’s satisfaction and we wish Canelo all the best for the future. In close partnership with DAZN, we will continue to showcase our wide range of talent, including emerging superstars like Ryan Garcia, Jaime Munguia and Vergil Ortiz Jr. of whom have the talent and potential to become the next biggest star in our sport. ”
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