In a story first broken by Boxing Scene, whose details were reported by ESPN, the 28-year-old Alvarez has signed a 5 year contract with streaming sports network DAZN which will pay him a whopping $365 million for the broadcast rights to his next 11 bouts. The journey begins Saturday, Dec. 15 when Canelo makes his first appearance at the historic Madison Square Garden challenging Rocky Fielding (27-1, 15 KOs) for his WBA Super Middleweight World Title.
Mexican boxing star Saul "Canelo" Alvarez has signed an 11-fight deal reportedly worth a minimum of $365m (£278m).
Alvarez's last six fights were all HBO pay-per-view events, including his September win over Gennady Golovkin, for which viewers paid $85.
Mayweather's most recent fight came against UFC star Conor McGregor inside the boxing ring and the American defeated him with a 10th round knockout in August 2017. "The most important thing is that fans can enjoy this fight at a very low price", Alvarez said through an interpreter.
HBO had the right of first negotiation and a last-look provision for the upcoming fight in NY, but after DAZN threw down its bid, the premium cable channel backed off. Álvarez is a part of Oscar De La Hoya's Golden Boy Promotions, and the organization has had a long relationship with HBO. Even if they never watch anything else on the service, fans will pay $120 a year, or the equivalent of $60 a fight. His earning will be nearly Rs 10,000 per minute for the next years.More news: Huawei Mate 20 X is all about gaming
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Skipper said it wasn't quite a blank check, but one that ensured Alvarez wouldn't be taking a pay cut to leave pay-per-view.
"He wants to continue hurting boxing by making fights that don't make sense ... and not giving boxing the credibility it deserves", Canelo tells TMZ Sports.
Alvarez will next fight on December 15, when he faces off against Rocky Fielding at Madison Square Garden.
"I've always said that when one door closes another one opens and we're very happy with this new alliance that we've made with DAZN", Alvarez said through an interpreter.
That may prove problematic for fighters who have deals with other broadcasters.