The news has hot that Mexican superstar Canelo Alvarez has reportedly re-filed his lawsuit against DAZN, Golden Boy Promotions and Oscar De La Hoya and is seeking at least $280 million in damages. Alvarez also wants the ability to be set free from his contracts.
Chris Mannix of Sports Illustrated was the first to break the news, noting the boxer is also looking for a jury trial for this case.
Original reports had Alvarez meeting with Golden Boy and DAZN, where DAZN offered Canelo a new deal worth about $20M per fight, plus incentives based on the number of subscriptions he generates to DAZN from his events.
Alvarez obviously was more interested in his $35M guarantee per fight, but it’s been widely reported that DAZN hasn’t been happy with the opponents Canelo has been fighting on their platform.
It’s still possible that this situation could still be resolved without involving a court, but it could also get ugly.
He had until Monday to refile the lawsuit, which was first thrown out based on a technical error from Canelo’s legal team.
And this leaves us where we are now. With Canelo going to battle outside of the ring, not inside of it.
Alvarez broke headlines by signing a five-year, 11-fight, $365 million deal with DAZN in 2018, but things have since turned sour.
On DAZN, He’s got victories over Rocky Fielding, Daniel Jacobs, and Sergey Kovalev. Jacobs and Kovalev in particular are quality foes, but DAZN doesn’t see it that way, and instead preferred “premiere” opponents like UFC star Jorge Masvidal.
It’s definitely been a roller coaster ride for Canelo and who knows what he’s thinking. For some years he was fighting on HBO on their pay per view platform.
His fights on HBO PPV against Gennady Golovkin each generated over a million buys, for example.
The buzz amongst the boxing industry is that Canelo would be a good fit to sign with Al Haymon’s Premier Boxing Champions.
If that were the case, he would go back to a pay-per-view platform and would certainly have some quality opponents to choose from, such as IBF super middleweight champion Caleb Plant and former champion David Benavidez.
At 30 years of age, canelo is still in his prime but it would be a misfortune for him to sit out an extended period of time.
The coronavirus pandemic obviously affected the situation, as boxing slowed to a halt for some months, and the return of the sport has been without live audiences.
What does the future hold for Canelo? Who really knows at this point. It’s obvious that he isn’t too happy with his situation, otherwise he would not have refiled this lawsuit.
Ever since his loss to Floyd Mayweather in 2013, Canelo has rebounded to become the face of boxing. Now we just need to see him back in the ring.