Boxer Canelo Alvarez has agreed to the largest ever sports contract in history. He signed up for a five-year deal that involves him getting into 11 fights - estimated to be worth $365 million. According to The Guardian, the deal was signed between Alvarez and streaming service DAZN.
The deal comes after DAZN launched its services in the US in the month of September. The company hopes to capitalise on the gap that will emerge when HBO stops broadcasting boxing matches post 2018. It was earlier reported that HBO made an announcement, saying that they’ll end streaming boxing matches after dominating the space for 45 years.
Reportedly, Alvarez has a lot of fans in the US and Mexico and his bouts have reaped several million dollars through pay-per-view. The agreement with DAZN however, will not have a pay-per-view deal but will be visible to subscribers who pay a premium for a sports package. The deal also mentions that Alvarez can rake in more money if he manages to bring in a certain number of subscribers over the duration of his contract.
“The most important thing to me was being able to give the fans the opportunity to see me fight without having to pay the $70 or $80 for my fights on pay-per-view,” said Alvarez to ESPN, adding that it was the ‘most important thing, more important than what I am making.’