Streaming service DAZN have made sporting history this week by signing Canelo Alvarez for an astonishing $365m. The 11-fight, five-year deal represents the richest athlete contract in sports history, surpassing MLB’s Giancarlo Stanton ($325m).
Alvarez’s fights have long been shown on HBO due to the network’s agreement with Golden Boy Promotions, owned by Oscar De La Hoya. However, since HBO announced it would be cutting ties with boxing at the end of 2018 after 45 years, DAZN wasted no time in signing Canelo.
This means that boxing fans in the US will now have to pay DAZN’s $9.99 monthly subscription fee instead of the $80 PPV cost to see Alvarez in action. Commenting on the deal Alvarez said “The most important thing to me was being able to give the fans the opportunity to see me fight without having to pay the US$70 or US$80 for my fights on pay-per-view. That was the most important thing, more important than what I am making.”
Under the agreement Golden Boy must put on ten ‘high-calibre’ fight nights per year that will be streamed on DAZN from 2019, as OTT services continue to disrupt traditional media providers.
In May Matchroom Boxing and DAZN struck a $1bn deal, marking the biggest deal in boxing history. More here.
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