- The biggest contract in sports, between Alvarez and Golden Boy Promotions, has been dismissed.
- Mexican champion filled a lawsuit against other parties, and after two months, he became a free agent.
- There were multiple disagreements between all the involved parties, and the COVID-19 pandemic only worsened the situation.
Canelo’s Relationship With De La Hoya’s Promotion Terminated
Once the biggest deal in the sport’s history, which stood at $365 million for five years and 11 fights, was terminated yesterday. That officially made the four-division champion, Canelo Alvarez, a free agent.
Golden Boy Promotions released Alvarez, and all sides have confirmed that information.
“The lawsuit was resolved to everyone’s satisfaction, and we wish Canelo the best going forward,” De La Hoya stated.
Alvarez filed a lawsuit in September, citing numerous violations of the above-mentioned contract. All three parties tried to negotiate once more later on, but that effort didn’t provide any positive outcome. Shortly after, we saw a break-up.
Fight Against Golovkin in The Center of Dispute
Reportedly, the biggest problem broke out because of the potential trilogy with Gennady Golovkin. Canelo won the first match against the Kazakh star, and the second ended with a draw.
However, the outcome of the latter bout was labeled as one of the biggest shames in the history of boxing, with a vast majority of the experts and the fans claiming that the scoring was rigged and that Alvarez lost that match.
DAZN wanted to have the third fight between the two, and that is when problems escalated. Golovkin is their client too, and there is no doubt that the third fight would be very lucrative for all sides involved. Yet, Canelo didn’t want to accept that idea, creating a rift between him and his partners, which would increase as time went by.
COVID-19 pandemics made massive problems in fulfilling the contract agreements. There were no fights; organizing the same would encounter huge issues, and instead of generating money, the income was interrupted, with no indications that the situation might change.
That is one of the reasons why DAZN pushed the idea of booking the third contest between Canelo and Golovkin.
What’s Next For Canelo?
The media speculates about the possible fight between Canelo and Caleb Plant, the IBF middleweight titlist, suggesting that they might clash already next month. Alvarez has no obligations now and is free to accept fights and arrange them according to his own will.
“All this time, we have been working very hard in the gym with a lot of responsibility and discipline, to be in great physical shape and ready to fight this year, and it will be!” Eddy Reynoso, Alvarez manager, and trainer said in his statement.
Point is a 28-year old undefeated IBF champion who won 20 fights, 12 of them via KO. The American already revealed his intentions about challenging Alvarez earlier this year. In January 2019, Plant defeated Jose Uzcategui, taking the IBF super-middleweight title. Since then, he defended the belt twice against Mike Lee and Vincent Feigenbutz, both times via TKO.
