We now know a little bit more about Canelo Alvarez declaring free agency.
It’s no secret that boxing’s megastar has been involved in a legal battle with sports streaming platform DAZN and Golden Boy Promotions. Canelo has alleged a breach of contract. He had been seeking $280 million in damages and the ability to break free from his deals.
Alvarez’s manager Eddy Reynoso issued a statement claiming his fighter is now a free agent. While some thought this may have been a negotiating tactic on the part of Canelo, it appears he isn’t bluffing.
ESPN Deportes is reporting that Alvarez has reached an agreement with DAZN and Golden Boy to have his contracts terminated.
Alvarez had signed an 11-fight deal worth $365 million back in 2018. It was quite clear that the relationship between Canelo and DAZN deteriorated in the midst of the COVID-19 pandemic. While DAZN was hoping to get the big trilogy fight between Canelo and Gennadiy Golovkin, it turns out the sports streaming service will need to put its chips on a new star.
Canelo hasn’t been in action since November 2, 2019. He knocked out Sergey Kovalev in the 11th round to become the WBO Light-Heavyweight Champion. Alvarez vacated the title as he planned on moving back down in weight. With his free agency status seemingly legit, it’ll be interesting to see when Canelo will step back inside the boxing ring.