Canelo Alvarez signs record-breaking $365 million deal with DAZN

Canelo Alvarez signs record-breaking $365 million deal with DAZN

Canelo Alvarez signs record-breaking $365 million deal with DAZN

The boxer is represented by Golden Boy Promotions, the stable led by former champion Welterweight Oscar De La Hoya, the highest pay-per-view earner in boxing before Floyd Mayweather and Manny Pacquiao arrived on the scene.

The deal, which is for 11 fights, will see him earn a minimum of £278,148,250 over the next five years.

"He's extremely happy", De La Hoya told ESPN after Alvarez signed his new contract.

A key part of the deal for boxing fans is that it removes the sport's biggest PPV star in the USA from the platform altogether as Alvarez's fights can now be accessed on DAZN, along with various other boxing and mixed martial arts events, for the monthly price of $9.99. "The most important thing to me was being able to give the fans the opportunity to see me fight without having to pay the $70 or $80 for my fights on pay-per-view", the 28-year-old Álvarez told ESPN on Wednesday.

"Adding this exclusive arrangement with Golden Boy and its quality roster of fighters to our Matchroom UK and Matchroom US fights gives us a year-long schedule of premium events for boxing fans. It's very important. We have something pending there, so let's make the second fight".

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The lucrative deal comes on the heels of HBO recently announcing its plan to pull the plug on its boxing coverage by the end of 2018, forcing Alvarez and others to seek new broadcast homes.

"This is easily one of the best days in the growing history of Golden Boy Promotions", said De La Hoya, speaking to ESPN.

As part of the Alvarez deal, the Mexican's promoters Golden Boy will stage 10 cards on the channel each year. "We are committed to making this sport as accessible as possible and at an affordable price for all the fans". The signing of Alvarez kicks off the DAZN-boxing partnership with an exclamation point and plenty of zeroes. My dream has been to make boxing a sport for all.

DAZN, which is owned by the United Kingdom -based Perform Group and overseen by former ESPN president John Skipper, also signed an exclusive deal with the World Boxing Super Series to stream a trio of tournaments promoted by Sauerland Events. "DAZN has the flawless platform to make this dream come true, and with the biggest star in the sport at the helm of this journey, I have no doubts that we will succeed in unimaginable ways".

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