DAZN wants Canelo Alvarez to stick around, but not at $35 million per fight. The streaming service reportedly offered Alvarez a restructured contract that would pay Alvarez $20 million guaranteed per fight, according to The Athletic.
The three entities met Tuesday to discuss the issue. The meeting reportedly lasted 10 hours, and resulted in Alvarez being offered a restructured deal that would pay him $20 million per fight, according to The Athletic.
DAZN offered Alvarez a restructured deal during the mediation process, sources said, that would pay the Mexican icon upward of $20 million guaranteed per fight, along with upside tied to how many DAZN subscribers each event generates. The offer is similar in structure to the way boxers are paid for pay-per-view events, where they earn a certain amount of dollars for every show purchase over a certain plateau.
Alvarez is reportedly considering that offer.
Why is Canelo Alvarez suing DAZN and Golden Boy?
In 2018, Alvarez signed a massive $365 million with DAZN. Under that deal, Alvarez was expected to have 11 fights on the streaming service. Alvarez would receive $15 million for the first fight, but would be paid $35 million per fight for the remaining 10 bouts.
Alvarez has fought twice under the new deal, but claims he only received half his guaranteed money. DAZN reportedly did not want to pay Alvarez the full $35 million if Alvarez wasn’t going to take on a premier opponent. Alvarez reportedly has final say over his opponents, though that’s a highly contested point of the lawsuit.
Will Canelo Alvarez and DAZN reach an agreement?
Alvarez filed the lawsuit in September, but it was dismissed due to an error. Alvarez can still refile the lawsuit, but has until Monday to make that move. If Alvarez refiles, that would indicate he’s still unhappy and wants to push the issue further. If he does not file, it could indicate Alvarez will accept DAZN’s restructured deal — or at least that Alvarez believes he can amicably negotiate with DAZN after its latest offer.
If Alvarez wants to return to the ring in 2020, he’ll need to come to an agreement with DAZN soon. Alvarez’s next bout likely wouldn’t come against Gennadiy Golovkin, but that could eventually come down the road.
Under DAZN’s restructured offer, Alvarez could make more money if he brings in new subscribers. Committing to a fight against Golovkin is one way to make that happen.
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