Saul 'Canelo' Alvarez Files $280m Lawsuit Against Oscar De La Hoya, Golden Boy Promotions And DAZN
Unhappy with his contract and his lack of activity inside the squared circle in recent times, the Mexican has taken things to the Los Angeles Federal Court for a host of reasons that include: breach of contract, intentional interference with a contract, negligent interference with a contract, fraud and breach of fiduciary duty.
Having signed the richest contract in sports in October 2018 when he penned a $365 million deal till 2023 over 11 fights, the four-division world champion now wishes to end the relationship and move into free agency.
He is also seeking a whopping $280 million, not including punitive damages and attorneys' fees.
:bangbang: Canelo Alvarez has now filed a lawsuit against DAZN, Oscar De La Hoya and Golden Boy for breach of contract and multiple other reasons. He's seeking a judgement that allows him to break away from these contracts and become a free agent, as well as $280m+ damages. pic.twitter.com/Fe77DGn2D8- Michael Benson (@MichaelBensonn) September 9, 2020
Commenting on his decision to sue his promoter and broadcaster, Canelo told Boxing Scene. "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.
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"I filed the lawsuit so I can get back to boxing and give my fans the show they deserve."
Under the DAZN banner, Canelo has had a total of three fights thus far, earning wins over Rocky Fielding, Sergey Kovalev and Danny Jacobs.
The COVID-19 pandemic has played a key role in the situation unfolding, with Canelo originally scheduled to face Billy Joe Saunders in May before facing Gennady Golovkin in a third mega bout this month.
Canelo's arrangement with DAZN would see him earn a guaranteed $35 million for every fight but according to Mike Coppinger from The Athletic, key figures working for streaming service were not happy with paying him the full purse after two fights as they felt he was not facing "a premier opponent".
It's said he refused the proposal of taking around half the purse for lesser bouts and told Golden Boy to look elsewhere for a broadcast partner in 2020.
Their inability to find one has led to them being dragged into the lawsuit, with Canelo now desperate to become a free agent and move forward with his boxing career.