By Norm Frauenheim-
It’s a huge bet on one fighter. That also makes it oh-so risky. But give DAZN, a global streaming service, credit for its courage. It made the investment, doubling down with a $365-million wager on Canelo Alvarez.
It was announced Wednesday as an 11-fight, five-year deal. In boxing terms, that’s an eternity, meaning time enough for the infinite variety of busted noses, broken hands and all of the other unforeseen circumstances that postpone opening bells and interrupt careers.
If all goes according to plan, Canelo will be 33-years-old and much richer than he is already when the astonishing deal ends in 2023.
The contract has been called the richest in sports. As of today, I guess it is. That could change with the next big deal in baseball, international soccer or auto racing. Let’s just say it has the potential to be one of the biggest ever. The last biggie was the Showtime/CBS deal with Floyd Mayweather Jr. That one was for six fights over 30 months.
At the per-fight level, Canelo’s deal is worth more than Mayweather’s. Canelo is guaranteed more than $33 million — $33,181,818.20 to be exact — for each bout, starting at a new weight, super-middle, against somebody named Rocky Fielding on Dec. 15 at New York’s Madison Square Garden
That’s nearly $2 million more per fight than Mayweather’s guarantee of $32 million on a contract valued at $192 million when it was signed in February 2013. The difference for Mayweather’s final take came against Manny Pacquiao in the deal’s fifth fight on May 2015.
He had beaten Robert Guerrero, a young Canelo and Marcos Maidana twice. Before wrapping up the Showtime contract against Andre Berto, his deal spiked in a victory over Pacquiao because of a contract that included profit sharing. His purse multiplied after the pay-per-view passed a threshold. According to varying reports, Mayweather wound up with between $230 and $240 million after all of the PPV’s record receipts were counted.
That means his Showtime contract would paying him between $422 and $432 million before he went on to add to an even bigger payday for one night in a mixed-mess spectacle against the UFC’s Conor McGregor. Mayweather walked away from the Showtime deal with $57 to $67 million more than the announced number in Canelo’s deal.
The presumption is that the DAZN contract also includes a profit-sharing clause that would allow Canelo to earn more if the buys exceed a certain number.
For the fight fan, there’s good news in that. It would seem to dictate at least one fight at middleweight with Gennady Golovkin, who is 0-1-1 against Canelo. They fought to a majority draw last year and Canelo won a majority decision last month. Both were controversial.
Both also were a big draw, including more than one million pay-per-view customers for each. According to various reports, Canelo collected $50 million for each bout.
At that rate, he might have to fight GGG a couple of more times to supplant Mayweather on boxing’s all-time dollar-for-dollar scale, which this week and perhaps in any other week has been a lot more relevant than the pound-for-pound debate.
