In a move that could elevate OTT video in live sports, DAZN, the nascent London-based fight streaming platform, has signed Mexican boxing champion Canelo Álvarez to a 11-fight, $365 million fight deal – reportedly the richest athlete contract in history.
In addition to the size of the contract, which runs through 2023, the deal transfers boxing’s biggest draw from the lucrative pay-per-view market to a $9.99 monthly streaming service.
Indeed, Álvarez, the current WBA and WBC middleweight champion, most-recently defeated Gennady Golovkin in a rematch that generated more than $94 million in pay-per-view revenue – based on a $84.95 PPV price tag. The fight generated 1.1 million PPV transactions.
“Canelo is the highest-paid athlete in the world,” Oscar De La Hoya of Golden Boy Promotions, told ESPN. “He’s extremely happy.”
The deal comes as HBO recently announced it would cease live boxing broadcasts after 35 years.
Álvarez’ first fight under the DAZN deal is against Rocky Fielding on Dec. 15 in Madison Square Garden.