By Keith Idec
After some 11th-hour haggling Wednesday, Gennady Golovkin accepted Oscar De La Hoya’s revised final financial offer for a rematch with Canelo Alvarez.
De La Hoya confirmed that they’ve reached an agreement for a September 15 rematch in a Tweet on Wednesday afternoon.
Tom Loeffler, Golovkin’s promoter, told Golden Boy Promotions president Eric Gomez of Golovkin’s decision soon after the the deadline of noon PT on Wednesday that Gomez and De La Hoya gave Loeffler on Tuesday. Earlier Wednesday, Golovkin rejected a 57.5-42.5 revenue split that would’ve favored Alvarez, more than the 65-35 split he initially accepted for their lucrative middleweight championship rematch that was supposed to take place May 5.
Some more negotiating between Golden Boy and Loeffler led Golovkin to making the best financial decision he could for what figures to be boxing’s most profitable fight of 2018.
Their second fight, which will be televised by HBO Pay-Per-View, has been rescheduled for September 15 at T-Mobile Arena in Las Vegas. That’s the same venue where Alvarez and Golovkin boxed to a controversial 12-round draw last September 16.
An angered Golovkin demanded a 50-50 split for their rematch three weeks ago in large part because he wanted more compensation for the trouble Alvarez’s suspension for two failed performance-enhancing drug tests caused him. Kazakhstan’s Golovkin (38-0-1, 34 KOs) missed out on a huge payday May 5 because Alvarez (49-1-2, 34 KOs) was banned by the Nevada State Athletic Commission from fighting that night.
Golovkin instead fought Vanes Martirosyan on May 5 for a reported purse of $1.2 million. Martirosyan (36-4-1, 21 KOs), a junior middleweight contender who hadn’t fought in nearly two years, lost by second-round knockout at StubHub Center in Carson, California.
De La Hoya, Alvarez’s promoter, told Loeffler there was no way he would give Golovkin a 50-50 split. Continued negotiations led De La Hoya to improve his offer from 60-40 to 57.5-42.5.
The 36-year-old champion could earn as much as $30 million if their rematch produces enough pay-per-view revenue. He might have had to fight five or six times to make that type of money for facing opponents other than Alvarez.
De La Hoya and Gomez pressured Golovkin for an answer by threatening to make a fight with Daniel Jacobs if Golovkin didn’t give them an answer by noon PT on Wednesday.
Brooklyn’s Jacobs (34-2, 29 KOs) gave Golovkin a difficult fight 15 months ago and would’ve provided Alvarez with a credible alternative if Golovkin declined Golden Boy’s offer. Golovkin dropped Jacobs in the fourth round and narrowly won a unanimous decision in their middleweight championship match in March 2017 at Madison Square Garden.
Jacobs wasn’t satisfied with Golden Boy’s offer, but his handlers were willing to continue negotiating to make that fight happen September 15 if Golovkin turned down Golden Boy’s improved offer.
Mexico’s Alvarez, 27, resumed training recently for what will be his first fight in almost exactly a year. His six-month suspension for twice testing positive for clenbuterol in February is expected to end after August 17.
Keith Idec is a senior writer/columnist for BoxingScene.com. He can be reached on Twitter @Idecboxing.