Mexican red-haired puncher Canelo Alvarez has officially left the long-established management company Golden Boy Promotions.
On November 7, Golden Boy Promotions – the famous boxing company in the boxing village officially announced the end of cooperation with their number 1 puncher – Saul “Canelo” Alvarez.
The cause of the breakup mainly came from disagreements between Canelo and his management company and media partner DAZN over the settlement of the remuneration from the end of 2019 until now.
Since 2018, Canelo Alvarez has signed a contract to play at least 11 games over 5 years with DAZN’s media partner and a huge guaranteed salary of 365 million dollars.
However, the opponents that the Mexican star faces – including the closest defeat of the super-mid-tier general Sergey Kovalev, cannot satisfy the station in terms of attractiveness and economy.
Tensions escalated when the COVID-19 outbreak broke out in early 2020, forcing Canelo to temporarily hang up his gloves for the past 10 months. He can only return when the match schedule with Callum Smith or Billy Joe Saunders on December 19 has been determined.
However, economic hardship made the DAZN only able to secure a sure remuneration for Canelo of $ 20 million, much less than the $ 35 million originally committed.
On the side of Golden Boy Promotions, it seems that the lack of support for “domestic chickens” made Canelo decide to file a lawsuit against both partners in early September this year. The Mexican superstar requires both Golden Boy and DAZN to reimburse the amount of 280 million dollars – the amount corresponding to the remainder of the 5-year contract signed earlier.
CEO Golden Boy Promotion, former martial artist Oscar de la Hoya, said the breakup with Canelo hopes to end smoothly with separate plans for the two sides.
“The lawsuit has been resolved so that all parties can be satisfied. We also hope the best will come to Canelo” – shared de la Hoya.
Thus, Golden Boy Promotions will say goodbye to the biggest star, who has been with this company for 10 years. Since 2010, Canelo has been associated with the name “Golden Boy” – a place specializing in finding Mexican talents of the world boxing village.
In addition to Canelo, Golden Boy currently holds a number of promising stars, typically talented Ryan Garcia (20-0), Jaime Munguia (36-0), Vergil Ortiz Jr (16-0) with the hope of success. success of seniors.
Currently, Canelo Alvarez is said to be scheduled for December 19 match with super-middle IBF champion Caleb Plant. According to Canelo’s team earlier, their goal is to get this puncher back in action to stay in shape before negotiating more valuable matches in the near term.
“We always practice seriously with high discipline, all to prepare ourselves in top condition for a match this year.” – Eddy Reynoso, Canelo Alvarez’s main coach, said.
