Canelo Alvarez Inks Massive $365 Million Five-Year DAZN Deal

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Canelo Alvarez, 28, agreed to a five-year, 11-fight contract with streaming platform DAZN on Wednesday that will pay him a minimum of $365 million, according to a press release.

However, HBO recently announced that it would be bowing out of boxing after 45 years showing some of the sport's biggest fights, paving the way for DAZN to swoop for coverage of Canelo's bouts.

Canelo was most recently aligned with U.S. broadcaster HBO but the network announced it would move away from live boxing coverage at the end of 2018.

Off the heels of a historic decision victory over Middleweight juggernaut Gennady Golovkin, Saul "Canelo" Alvarez has secured himself a $375 million contract with a mandated string of bouts, eleven in total.

In the post-Floyd Mayweather-Manny Pacquiao era, Alvarez emerged as boxing's biggest star on the pay-per-view fight circuit. "It's very important. We have something pending there, so let's make the second fight".

Alvarez steps up to super-middleweight to fight Britain's Rocky Fielding in NY on 15 December - his first fight under the DAZN deal. The deal is with sports streaming service DAZN and means an average take of $33 million per fight. "I've always liked a challenge, and this is yet another challenger in my career". My dream has been to make boxing a sport for all.

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Canelo's move to DAZN occurs at an uncertain, transitionary time for the sport of boxing.

The DAZN-Golden Boy deal includes a large production element, which places Oscar De La Hoya as Executive Producer of the 12 live fight nights annually. DAZN later added the World Boxing Super Series and mixed martial arts (MMA) promotion Bellator to round off an impressive initial combat sports offering.

The newly launched DAZN now has heavyweight champion Anthony Joshua and Alvarez on its books.

"This is easily one of the best days in the growing history of Golden Boy Promotions", said De La Hoya, speaking to ESPN.

Canelo Alvarez is living the high life. He said Alvarez's last three fights generated 3.6 million buys and almost a quarter of a billion dollars, making him someone who can be transformative to a subscription service focused largely - at least for now - on combat sports.

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