One of boxing’s biggest stars is now a free man.
Following an announcement by his management team Friday, Canelo Alvarez is no longer under contract with Golden Boy Promotions nor DAZN.
The statement, posted by Alvarez’s manager Eddy Reynoso, reads as follows:
In my role as manager and coach of Saul “Canelo” Alvarez, I allow myself to communicate to the boxing community and to all our fans, that starting today, November 6th, “Canelo” becomes a free agent, so we are ready to continue with his boxing career.
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!
We will announce date, rival and place very soon, and we will return stronger than ever to keep growing and showing that Mexican boxing is the best.
ESPN is reporting that the parties involved have come to an agreement to allow Alvarez, 30, to become a free agent. A bout between Alvarez and Caleb Plant, who competes for Premier Boxing Championships, is being targeted for Dec. 19.
The news apparently puts an end to an ongoing legal dispute involving Alvarez, Golden Boy Promotions, and DAZN. Alvarez signed an 11-fight, $365 million deal with DAZN in October 2018, but after two years and just three fights under that deal, Alvarez’s team sued Golden Boy Promotions, DAZN, and Golden Boy CEO Oscar De La Hoya for $280 million in damages alleging that the the defendants had not fulfilled the terms of the agreement.
Specifically, Alvarez’s complaint accused the parties of breach of contract, intentional interference with contract, negligent interference with contract; fraud and concealment; and breach of fiduciary duty.
Alvarez was to fight Billy Joe Saunders in May, but the event was canceled due to coronavirus pandemic precautions. The pandemic also created issues with negotiations as the parties involved failed to come to an agreement on a proposed purse reduction in light of their potentially being no live gate.
Alvarez (53-1-2, 36 KOs) most recently fought in November of last year, winning the World Boxing Organization light heavyweight title with an 11th-round knockout of Sergey Kovalev. With the victory, Alvarez became a four-division champion.
