Canelo Alvarez rises to the top
RELATED: Canelo Alvarez ‘most lucrative fight wasn’t against Floyd Mayweather
Canelo Alvarez has been impressing the boxing world since 2005. The Mexican fighter has defeated some of the best boxers over the years including Shane Mosley, Miguel Cotto, James Kirkland and Julio Cesar Chavez.
He set a 53-1-2 record and won the most impressive title in four different divisions: middleweight, light middleweight, super middleweight and his youngest light heavyweight in 2019.
The only defeat in his boxing career was in 2013 when Floyd Mayweather Jr. dominated Alvarez in their fight. At the end of the bout, a referee inexplicably scored the bout between 114 and 114, but Mayweather still won by majority decision.
Canelo Alvarez has not lost since then. He suffered a second draw in 2017 against the Kazakh boxer Gennady Golovkin. Alvarez recovered a year later and defeated Golovkin in a majority decision.
Canelo Alvarez becomes the highest paid athlete in sports history
RELATED: Canelo Álvarez’s $ 19,000 Shopping Spree explains his lavish lifestyle
In October 2018, Canelo Alvarez and streaming service DAZN announced a partnership that would earn him $ 365 million over a five-year period and include eleven fights. The deal made Alvarez the highest-paid athlete in the world at the time, beating the deal between the Miami Marlins and bat Giancarlo Stanton for $ 325 million.
“I am humble to be selected to lead this new vision for boxing that will undoubtedly benefit the fans,” Alvarez said at the announcement.
DAZN chairman of the board, John Skipper, who was previously ESPN president and co-chair of Disney Media Networks, said the deal with Alvarez was a win-win for everyone involved.
“By bringing Canelo’s struggles to DAZN, we will turn his pay-per-view success into a growth engine for subscribers – a truly transforming moment for our company and for the entire industry.”
Fighter sued and resigned from contract
After Canelo Alvarez signed the massive contract, he defeated Rocky Fielding for the WBA super middleweight title a few months later. He has only fought twice since then and has not battled the pandemic in the last year.
Also due to the pandemic and the associated financial problems, DAZN told Alvarez that he wanted to reduce the amount paid per fight. The fighter reached out to his promoter, Golden Boy Promotions, to find a new broadcast partner for a fall 2020 bout. It never happened.
In September, Alvarez filed a lawsuit in federal court against DAZN, Golden Boy Promotions, and its CEO, Oscar De La Hoya, for breach of contract. He claimed $ 280 million in damages.
This week, Canelo Alvarez’s manager, Eddy Reynoso, announced that his fighter is indeed a free agent. According to De La Hoya, the lawsuit was “resolved to everyone’s satisfaction”.
The terms of the settlement were not published. All of this means that Alvarez will not get anything close to the $ 350 million deal he originally signed, but will now be able to negotiate a new deal for upcoming bouts. He hopes to return to the ring by the end of 2020. How much he earns will determine whether or not he made the right decision.
These were the details of the news Canelo Alvarez is giving up the deal that made him the... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at de24.news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.
