Gennadiy Golovkin Sues Golden Boy Promotions For Money He’s Owed From Canelo Alvarez 2018 Rematch
Gennadiy Golovkin filed a lawsuit on Friday against Oscar De La Hoya’s Golden Boy Promotions.
Golovkin, also known as GGG, is alleging the promotion of breach of contract, breach of fiduciary duty, conversion, constructive trust and accounting, ESPN reported. He is seeking a jury trial.
The Kazakhstan native is looking for at least $3 million in damages from his September 2018 rematch with current undisputed super middleweight champion Canelo Alvarez. The complaint also states that GGG wants to be paid interest on the $9,025,351 Golden Boy owed him in January 2021, ESPN reported.
Golovkin was due 45% of all gross revenue of his rematch with Alvarez, including gate receipts, sponsorship, pay-per-view revenue, etc after Golden Boy was paid the first $2.5 million net ticket revenue. The suit does not state when HBO paid Golden Boy.
Alvarez won the rematch via majority decision. The blockbuster fight generated around 1.1 million PPV buys in the U.S., which translates to $94 million and $27,059,850 in ticket sales.
But, according to the complaint, Golovkin said the $9,025,351 was wrong due to an accounting error. Golovkin was due an additional $1.375 million according to a revised accounting report from Golden Boy.
The middleweight demanded payment, but Golden Boy refused, the court documents say via ESPN.
Golovkin will return to the ring on April 9 against Ryota Murata in a title unification bout. If GGG wins and Alvarez beats light heavyweight Dmitry Bivol on May 7, they’ll have their trilogy fight on September 17 on DAZN PPV.
Alvarez also sued Golden Boy Promotions in 2020 and was then released from his contract.