Sporting world stunned as boxer signs richest deal in history

Boxing superstar Saul “Canelo” Alvarez has overtaken the likes of Lionel Messi, Cristiano Ronaldo and LeBron James after signing the richest deal in sporting history.

The world middleweight champion has left the world of sport stunned after inking a lucrative long-term deal with sports streaming service DAZN that will see him earn at least $365 million over five years.

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.

ESPN reported that 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.

DAZN charges its subscribers $9.99 per month for a range of combat sports content.

“Canelo is the highest-paid athlete in the world. He’s extremely happy,” De La Hoya told ESPN.

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.

ESPN reported that Alvarez’s fights on DAZN would not be shown on pay-per-view.

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.

AFP