Meet boxer Canelo Alvarez, owner of richest contract in sports history
Golden Boy Productions CEO and legendary boxer Oscar De La Hoya on the message behind his TV ad promoting the Cinco de Mayo weekend boxing match.
Boxer Saul “Canelo” Alvarez earned the most lucrative contract in sports history this week by quietly amassing one of his sport’s most impressive resumes.
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. He suffered his only career loss by controversial judge’s decision to Floyd Mayweather, the only boxer in history to hold a 50-0 record.
Alvarez’s new five-fight, 11-year contract will pay him a minimum of $365 million, firmly establishing the multi-titleholder as the face of DAZN – a combat streaming service that recently launched in the U.S. The deal also sets him up to be one of the world’s richest athletes for the next decade, with annual pay rivaling any star in sports.
“We are thrilled to be exclusive partners with Golden Boy Promotions and Oscar De La Hoya,” said John Skipper, DAZN group executive chairman. “By bringing Canelo’s fights to DAZN, we will turn his pay-per-view success into a growth engine for subscribers – a truly transformational moment for our business and the entire industry.”
Alvarez turned pro at age 15 and has fought predominantly as a light middleweight or middleweight. He currently holds the unified WBA and WBC middleweight titles after defeating Golovkin last September – a win that earned Alvarez $50 million, according to Forbes.
With the DAZN contract, Alvarez could earn more than $120 million month over a 12-month period, according to Forbes. Last year, Mayweather topped Forbes’ annual list of the world’s highest-paid athletes by earning $275 million for a one-off bout against UFC star Conor McGregor.
Alvarez’s $365 million deal dwarfs the previous record for the largest contract in sports history, established when MLB slugger Giancarlo Stanton signed a $325 million deal with the Miami Marlins.
Alvarez will next fight on Dec. 15, when he faces off against Rocky Fielding at Madison Square Garden.