By Leobert Julian A. de la Peña
Boxing sensation Canelo Alvarez just filed a lawsuit against Golden Boy Promotions and its CEO, Oscar de la Hoya, and DAZN sports streaming.
Alvarez’s filing of the federal lawsuit came after the boxing promotions company and the sports online service did not meet the 11-fight $365 million agreement two years ago.
The contract was the biggest deal in boxing history and is one of the largest agreements in all of sports.
“I’m the pound-for-pound No. 1 in the world. I’m not scared of any opponent in the ring, and I’m not going to let failures of my broadcaster or promoters keep me out of the ring. I filed the lawsuit so I can get back to boxing and give my fans the show they deserve,” said Alvarez.
The lawsuit filed amounted to $280 million which stemmed from the breach of the single largest contract in boxing history.
“After extended discussions between the parties, DAZN offered to pay Alvarez and Golden Boy Promotions a fraction of the contracted $40 million license fee in cash and some DAZN stock in advance of a potential IPO. However, the entire value of the package, for a bout against another world champion, was substantially less than Alvarez’s contractual guarantee,” stated in the lawsuit.
For de la Hoya and Golden Boy Promotions, they said that they will be ready once things are resolved, and will be back to delivering great fights to Canelo again.
