Boxing champion Saul Alvarez signs 'richest sports contract ever'

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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.

The deal comes in the wake of the news that United States network HBO, on whose shows Alvarez previously fought, will stop showing boxing at the end of the year.

His next fight will be against Rocky Fielding at New York's Madison Square Garden on December 15 and the Guadalajara native has a strong chance of being named Forbe's Richest Athlete in 2019, particularly if a third bout with Golovkin materialises.

"We are thrilled to be exclusive partners with Golden Boy Promotions and Oscar De La Hoya", John Skipper, executive chairman of Perform Group, DAZN's parent company, told ESPN of this new deal with Canelo.

"This is only from my hard work", Canelo told ESPN of this record-breaking contract (via MMA Mania).

It will offer fans a monthly subscription service to watch the fights rather than having to pay hefty pay-per-view fees.

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After besting Golovkin (and perhaps before that), Canelo is boxing preeminent Pay-Per-View draw in the modern era following Floyd Mayweather's dominant reign in the middle to lower weight classes.

Will you be watching Canelo fight on DAZN this December? But I always want to take on challenges, and I am very happy my fans will be able to see me fight for a small cost'.

The organization's boxers previously fought on HBO, which recently announced it would end boxing programming.

That deal included a total of 16 bouts each year across the USA on top of Matchroom's existing 16 fight nights in the UK.

Respect box? Subscribe to my podcast - In This Corner with Brian Campbell - where we take an in-depth look at the world of boxing each week. DAZN made a big splash over the summer by signing promoter Eddie Hearn of Matchroom Sport, with a stable including unified heavyweight champion Anthony Joshua, to an eight-year, $1 billion deal.

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