Canelo Alvarez has filed a federal lawsuit claiming breaches of contract by streaming service DAZN, Golden Boy Promotions and its CEO, Oscar De La Hoya, and seeking $280 million.
Alvarez is seeking at least $280 million in damages, according to the lawsuit, which was filed in the U.S. District Court for the Central District of California.
“This lawsuit arises from the breach of the single largest contract in this history of boxing, and one of the largest in all of sport,” the complaint states.
“After extended discussions between the parties, DAZN offered to pay Alvarez and Golden Boy Promotions a fraction of the contracted $40 million license fee in cash and some DAZN stock in advance of a potential IPO,” the lawsuit says. “However, the entire value of the package — for a bout against another world champion — was substantially less than Alvarez’s contractual guarantee.”
Alvarez (53-1-2), has fought three of the 11 fights under his deal.
“I’m the pound-for-pound No. 1 in the world,” he said in a statement on Tuesday (Wednesday, Manila time). “I’m not scared of any opponent in the ring, and I’m not going to let failures of my broadcaster or promoters keep me out of the ring. I filed the lawsuit so I can get back to boxing and give my fans the show they deserve.”