World middleweight champion Saul "Canelo" Alvarez has set the boxing world ablaze, after he signed a lucrative long-term deal with sports streaming service DAZN that will see him earn at least $365 million over five years, it was officially announced Wednesday.
Mexican star Alvarez, who dethroned Gennady Golovkin in their gruelling rematch in Las Vegas last month, will fight 11 times as part of the deal, starting with December's super-middleweight bout in New York against Rocky Fielding.
Alvarez's deal with DAZN, which runs through 2023, is the most lucrative long-term athlete contract in history, shattering the 13-year $325 million deal signed by baseball's Giancarlo Stanton in 2014.
Alvarez's handlers at Golden Boy Promotions, run by former world champion Oscar De La Hoya, brokered the deal with DAZN, an online streaming service that only launched in September.
“As we all know, the sport is undergoing an enormous change. We at Golden Boy Promotions have taken a major step forward to adapt to this change by signing this historic partnership with the leader of sports streaming DAZN. This is a direct and unprecedented partnership between two major global companies in the sport, Golden Boy Promotions and DAZN,” said Golden Boy President, Eric Gomez.
“As a Golden Boy fighter, Canelo became the undisputed pay-per-view king. But now Canelo is starting a new era in the sport by having his next 11 fights on this amazing platform. We are committed to making this sport as accessible and affordable as possible for all the fans. The most remarkable thing about this deal is that fans will not have to pay any extra to see the biggest name in boxing, Canelo Alvarez.”
DAZN charges its subscribers $9.99 per month for a range of combat sports content.
Alvarez's switch to DAZN is a direct consequence of HBO television's decision to pull the plug on 45 years of broadcasting boxing earlier this month.
Alvarez previously had a deal with HBO to broadcast his fights on a pay-per-view basis.
However Alvarez's baseline earnings could increase sharply over the course of the deal if DAZN reaches a series of specific subscription benchmarks during the next five years.