DAZN proposed $20 million deal to Canelo Alvarez, drama over?

According to The Athletic, DAZN proposed Canelo Alvarez a new deal that could exceed $20 million. Alvarez has a decision to make. 

DAZN, Canelo Alvarez, and Golden Boy promotions got together, and there’s a deal on the table according to a report from The Athletic.

Alvarez filed a lawsuit against DAZN and Golden Boy after failing to secure a fight date from them under their original agreement. Alvarez’s suit alleged that he had a contract in place with Golden Boy, and they were deceitful about their dealings with DAZN on his behalf.

Reporter Dan Raphael suggested that DAZN didn’t want to pay the $35 million licensing fee stipulated in their contract with Golden Boy for opponents they felt weren’t “premium.”

Alvarez’s lawsuit was dismissed due to logistical errors in the filing. Alvarez’s legal team can refile their suit, but the clock is ticking.

On Thursday, Sept. 24, The Athletic broke the news that Alvarez, DAZN, and Golden Boy met during a 10-hour mediation Zoom meeting.

“A 10-hour mediation session on Tuesday between Canelo Alvarez, DAZN chief operating officer Ed McCarthy, Golden Boy Promotions’ Oscar De La Hoya and Eric Gomez, along with the respective legal teams of all three parties, brings renewed hope boxing’s top star could return this year, sources tell The Athletic’s Mike Coppinger,” stated The Athletic’s report.

DAZN has a new offer out to Canelo Alvarez, but will he accept it or move on with his previous lawsuit?

The Athletic also reported that DAZN made Alvarez a $20 million offer worth more with incentives.

“DAZN offered Alvarez a restructured deal during the mediation process, sources said, that would pay the Mexican icon upward of $20 million guaranteed per fight, along with upside tied to how many DAZN subscribers each event generates,” stated The Athletic.

The Athletic also reminded readers that Alvarez has until Monday to refile his lawsuit. Their report states that Alvarez is considering DAZN’s proposal.

If Alvarez’s legal team refiles their lawsuit in time, that should indicate that the mediation meeting didn’t work. There’s no news at the present if Alvarez, DAZN, and Golden Boy have plans for another meeting.

Things appear to be headed towards a resolution. Still, Alvarez has a decision to make. He can settle for possibly less money than his original deal, or he can take a chance for more with lengthy litigation.