Canelo Alvarez signs largest contract in the history of sport

Boxer Canelo Alvarez at Madison Square Garden in New York. He will meet Rocky Fielding in a 12-round, super middleweight bout in December. (AP Photo)
Updated 17 October 2018
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Canelo Alvarez signs largest contract in the history of sport

  • A massive moneymaker when he fought on pay-per-view, Alvarez will be able to be seen for much cheaper on the sports-streaming service DAZN
  • A third fight with Golovkin could feature in the 11-fight deal after their draw and Alvarez’s narrow victory in the rematch

NEW YORK: Canelo Alvarez is boxing’s new $365 million man.
Alvarez has signed an 11-fight deal that his promotional company says is the richest athlete contract in sports history, guaranteeing the Mexican middleweight champion at least that much money to have his fights shown on the sports-streaming service DAZN, beginning with his next bout.
Alvarez will move up in weight to challenge WBA super middleweight champion Rocky Fielding on Dec. 15 at Madison Square Garden.
A massive moneymaker when he fought on pay-per-view, Alvarez will be able to be seen for much cheaper through the subscription service that launched in the US in September and now features perhaps the two biggest figures in boxing in Alvarez and heavyweight champion Anthony Joshua.
“We have No. 1 and No. 2. They’re the two most important fighters in the world,” DAZN executive chairman John Skipper said. “Canelo fighting on DAZN, we believe that that will help us attract some of the other fighters, some of the other premier fighters.”
Alvarez (50-1-2, 34 KOs) is coming off a victory over Gennady Golovkin in a middleweight showdown in September. That fight, like most of boxing’s biggest, was shown on pay-per-view. It cost $84.95 to be seen in high definition.
And while planning his next fight, Golden Boy Promotions also needed a place to put it. With HBO bowing out of boxing after this year, the company had talks with Showtime, ESPN and Turner Sports about televising Alvarez’s future bouts.
But Skipper made an aggressive offer for DAZN (pronounced Da-Zone) when he met with Golden Boy about two weeks ago and the deal was quickly finalized.
“John came with the best deal. John Skipper came, he wasn’t playing games,” Golden Boy President Eric Gomez said. “He said, our first meeting with him over two weeks ago, he came to our office and said, ‘I’ve got a blank check, I’m not leaving until we make a deal.’ And he put his money where his mouth is.”
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 said Alvarez’s last three fights generated 3.6 million buys and nearly a quarter of a billion dollars, making him someone who can be transformative to a subscription service focused largely — at least for now — on combat sports.
“So I’ve got to find those fans,” Skipper said. “They are going to want to watch his fights and they’re going to get to buy them for a lot less expensive than they did before.”
It will cost them $9.99 a month for a subscription in the US Under the five-year partnership, Golden Boy also will put on up to 10 fight nights per year that will stream live on DAZN beginning in early 2019.
Gomez said Alvarez is committed to fighting 11 times during the deal and willing to fight any of the contenders at 160 or 168 pounds. Alvarez said for now his plan is to return to 160 after the bout against Fielding (27-1, 15 KOs), a British fighter who appeared significantly taller than Alvarez, who will be trying to win a title in his third weight class.
A third fight with Golovkin would be a natural after their draw and Alvarez’s narrow victory in the rematch, but there would be plenty more options at middleweight if they don’t meet again.
Whoever he ends up with, at least Alvarez knows now where it can be seen.
“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. “Forget about what the price is, the amount of money that we’re making. The most important thing is that fans can enjoy this fight at a very low price.”


Saudia E-Prix returns to Ad Diriyah with double header

Updated 24 June 2019
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Saudia E-Prix returns to Ad Diriyah with double header

  • The event will take place on Nov. 22 and 23
  • Two major races will take place in this year’s E-Prix, which made its Middle East debut in the Kingdom last year

DUBAI: The Saudia Ad Diriyah E-Prix is set to bring two races and more global acts in Saudi Arabia on Nov. 22 and 23, adding twice the excitement to a historic event held at UNESCO world heritage site, according to the General Sports Authority of Saudi Arabia (GSA).

“This year we look forward to igniting an even bigger season of motor racing for Formula E, we’re ready to welcome even more international visitors, and create another unforgettable moment for our people,” Prince Abdul Aziz bin Turki Al-Faisal, Chairman of the GSA, said in a statement.

Two major races will take place in this year’s E-Prix, which made its Middle East debut in the Kingdom last year with only one race. Music icons such as David Guetta, Enrique Iglesias, One Republic and the Black-Eyed Peas performed during the event. It was reportedly attended by some 60,000 people.

“This year sees even more teams enter the Formula E championship, with Porsche and Mercedes entering the fray. Last year Ad Diriyah was the launchpad for the new Gen 2 race cars and the exciting Attack Zone innovation. This year will be the first-time drivers will have an additional 10kW of power available when using that Attack Mode, rising from 225kW to 235kW,” Prince Khalid bin Sultan Al Faisal Al Saud, President of the Saudi Arabian Motor Federation (SAMF), said.

“Add to that, a double header – two races instead of one - with a total of 24 cars competing. This will fire up Saudi Arabia’s passion for motorsports and we are ready to welcome Formula E back,” he added.

The GSA is expecting crowds of up to 100,000 people to attend the E-Prix, given the improvements in the visa processing for tourists.

The 2019 Saudia Ad Diriyah E-Prix will be the second year of a 10-year partnership between ABB FIA Formula E and the GSA and the SAMF.