Canelo Alvarez Released from Contract with Golden Boy, DAZN
Two months after filing a lawsuit against DAZN and Golden Boy Promotions, Saul "Canelo" Alvarez is a free agent.
Alvarez's agent Eddy Reynoso announced the news on Twitter Friday, writing that Alvarez is "working hard in the gym" and will be "ready to fight this year."
Alvarez signed a five-year, 11-fight deal with online streaming service DAZN that guaranteed him at least $365 million in October 2018.
In September, Bryan Armen Graham of The Guardian obtained a copy of Alvarez's lawsuit that accused DAZN and Golden Boy Promotions of breach of contract:
"Alvarez, who turned 30 in July, claims he was paid the promised amounts for the Fielding bout and a pair of 2019 victories over Danny Jacobs and Sergey Kovalev, but accuses Dazn and Golden Boy of failing to propose adequate plans for his 2020 fights, despite the boxer’s willingness to consider 'offers in good faith' for payments below the guaranteed amount in light of the financial squeeze wrought by the coronavirus pandemic."
Baby noted the parties attempted to mediate the situation, but Alvarez's "suit was refiled after a technical error" when mediation failed.
Alvarez fought three times under the DAZN contract, defeating Rocky Fielding in December 2018, Daniel Jacobs in May 2019 and Sergey Kovalev in November 2019. Canelo was expected to fight Billy Joe Saunders on May 2, but the fight was postponed due to the coronavirus pandemic.
Eddy Reynoso, Alvarez's coach, told Manouk Akopyan of BoxingScene.com in May that they were "looking at September and December" as potential fight dates for the 30-year-old.
As things stand, Alvarez doesn't have an opponent or date set for his next fight. He originally signed with Golden Boy Promotions in 2010.
