Canelo Alvarez inks $365M deal with sports-streaming service

Boxer Canelo Alvarez Inks $365 Million Contract With Streaming Network DAZN, Richest Deal in the History of Sports

The contract will see the Mexican middleweight earn a staggering $365 million minimum over the course of 11 fights over the next five years.

One of the major factors behind Alvarez, who used to fight on HBO before they pulled out of boxing, signing with DAZN was being able to reach more fans.

The move represents the latest coup for DAZN, which only launched in the United States in September after announcing a landmark US$1 billion joint venture with Eddie Hearn's Matchroom Boxing in what was described as the biggest deal in the sport's history. That fight, like most of boxing's biggest, was shown on pay-per-view.

"I have got a big size advantage on him, height and reach, but I can't look at that too much - he is an elite fighter, pound for pound (one of the best), the face of boxing, experienced".

De La Hoya is expected to announce the deal at Wednesday's press conference in NY to promote Alvarez's December 15 return at New York's Madison Square Garden when he moves up in weight to challenge secondary WBA super middleweight titleholder Rocky Fielding in the first bout of his new DAZN deal. The deal with DAZN puts his fights on a platform with a monthly subscription cost ($9.99 monthly after a one-month free trial).

It has already signed another top flight boxer when it inked a deal with Anthony Joshua, who holds the IBF, WBA and WBO heavyweight belts. "We are committed to making this sport as accessible as possible and at an affordable price for all the fans. I've always liked a challenge, and this is yet another challenger in my career".

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Golden Boy Promotions' Oscar De La Hoya had announced that negotiations to find Canelo a new home would be getting underway immediately - and he wasn't lying.

"At the same time, I am humbled to be selected to lead this new vision for the sport of boxing, which will without a doubt be for the benefit of the fans".

He is the most high-profile fighter to sign with the platform, after Eddie Hearn and Matchroom Boxing agreed a $1bn deal earlier in the summer.

Alvarez's first fight under the contract will coincide with his move to super middleweight.

Promoter De La Hoya told ESPN: "Canelo is the highest-paid athlete in the world".

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