The face of boxing and Mexican superstar Canelo Alvarez is now a free agent after breaking off his promotional agreement with Golden Boy in the biggest power move seen in boxing for years.
After a bitter dispute with former mentor Oscar De La Hoya, who represented Canelo through his promotional outfit Golden Boy, a solution has finally been confirmed with the 30-year-old moving forward independently.
Canelo’s break also includes streaming platform DAZN, with whom he became the richest athlete in sport with his record-breaking 11-fight, $365m (£277m) contract signed in 2018.
The career move resembles former opponent Floyd Mayweather Jr, who outclassed Canelo in their fight in 2013 and ended his own promotional deal with Top Rank to seize financial control of his career in 2006.
Eddy Reynoso, Alvarez’s manager and trainer, confirmed the news on Friday with Canelo now seeking to fight before the end of 2020.
A statement read: “All this time we have been working very hard in the gym with a lot of responsibility and discipline, to be in great physical shape and ready to fight this year and it will be!”
Oscar De La Hoya said in a statement: “The lawsuit was resolved to everyone’s satisfaction, and we wish Canelo the best going forward.
“In strong partnership with DAZN, we will continue showcasing our wide array of talent, including rising superstars like Ryan Garcia, Jaime Munguia and Vergil Ortiz Jr, all of whom have the talent and potential to become the next biggest star in our sport.”
A potential meeting with Caleb Plant (20-0, 12 KOs), who is aligned with Premier Boxing Champions, on 19 December is now under discussion, according to ESPN.
Canelo escalated the bitter situation in September when he filed a lawsuit in federal court, claiming a breach of contract on DAZN deal.
A mediation situation between all parties was unable to find a solution with the suit refiled after a technical error.
Canelo has been out of the ring for more than a year since knocking out Sergey Kovalev on DAZN.
The Covid-19 pandemic heightened the tension between Golden Boy and the fighter, with the pair unable to agree on both an opponent or a salary for the bout, with no crowd drastically cutting the revenues.
The move appears to have ended the prospect for the time being of Canelo fighting Billy Joe Saunders – who was close to an agreement to face Canelo before the Covid-19 pandemic shut the sport down – or Callum Smith, who is the WBA Super champion at 168 pounds, with Canelo holding the lesser regular title.
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