By Mark Elezaj
As if 2020 hasn’t been crazy enough, Canelo Alvarez and Golden Boy reached an agreement for his release.
Back in September, Canelo filed a lawsuit in federal court citing a breach of contract on an 11-fight, $365 million deal that he signed back in 2018. A mediation between all parties failed, and the suit had to be refiled after a technical error.
Canelo has not fought since he defeated light heavyweight champion Sergey Kovalev via knockout back one November 2019. Since then, and in the wake of the COVID-19 pandemic, Canelo, Golden Boy and DAZN were unable to agree on who his next opponent would be and how much he is to be paid.
“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,” according to the initial lawsuit filed in California. “However, the entire value of the package — for a bout against another World Champion — was substantially less than Alvarez’s contractual guarantee.”
Canelo’s manager and trainer Eddy Reynoso, confirmed the news of Alvarez’s free agency.
“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!” Reynoso said.
Fast forward to the present time, Canelo Promotions and Matchroom Boxing have announced that Canelo Alvarez’s next fight will be against Callum Smith for the WBA and Ring Magazine World Super-Middleweight titles. The fight will take place with a limited live crowd at the Alamodome in San Antonio, Texas on Saturday, December 19, live on DAZN.
TOP RANK VS. CRAWFORD??
Terence Crawford made a statement last Saturday night. He showed everyone why he is the top fighter in the world by defeating Kell Brook via a fourth-round TKO to retain his WBO welterweight championship at “The Bubble” from the MGM Grand conference ballroom in Las Vegas.
After the fight, Bob Arum made some controversial statements questioning whether it was worth extending Crawford’s contract, leaving many fans scratching their heads and asking what is happening?
Arum said: “He’s got to promote like [Teofimo] Lopez does. He’s got to promote like Shakur [Stevenson] does. Like [Floyd] Mayweather did. Like [Manny] Pacquiao did.
“If he doesn’t, then who the f— needs him? He may be the greatest fighter in the world, but, hey, I ain’t going bankrupt promoting him.
“The question is, ‘Do we want to keep him?’ I could build a house in Beverly Hills on the money I’ve lost on him in the last three fights. A beautiful home.”
Speaking to the AK and BARAK Show on SiriusXM, Crawford responded to those comments.
“That’s cool… That’s cool, if that’s what he said then, that’s cool. Personally, if he feels that way, he can release me now. He can just release me. If you feel like you don’t… or I’m not an asset to your company, you release me right now.”
The champion also said, “You don’t have to wait till after the Spence fight. Why do you have to wait till after the Spence fight? Release me now and you don’t have to lose any money no more. If I’m such a loss, a headache….”
Arum says he doesn’t care if Crawford is upset with him for his comments. He said he doesn’t want to continue losing money on his fights.
Arum says he’d like to set up a fight with IBF/WBC welterweight champion Errol Spence Jr, and if Crawford wins, he’s free to sign with Al Haymon.
“I don’t give a s*** if [his team] got mad at me. This business is not about getting mad. What’d I say that was wrong? This business is about facts and the reality of the situation,” said Top Rank promoter Bob Arum to The Athletic.
“I’ll show him how much we’ve lost on his fights… I’m no longer in the business of losing money on Terence Crawford,” said Arum. “If we did this fight with Spence and put our money in for half, and Crawford wins and [Al] Haymon wants to sign him, be my guest, for Christ’s sake.”
“In other words, I am not going to go into my pocket anymore for Terence Crawford,” said Arum.
“I don’t have to make a lot of money with him on this [the Errol Spence fight], but I know I’ll break even or make a couple of dollars. I’m no longer in the business of losing money on Terence Crawford,” said Arum.
Crawford, however, believes that Bob Arum has done everything in his powers to deliver the best fights possible.
“I can’t bash Bob Arum and Top Rank, I cannot do that,” Crawford told SiriusXM. “They gave me the opportunity to accomplish everything in my career. I know deep down in my heart that Bob really is a good dude and he really did try everything possible in his will to get these fights I was asking for. I don’t know what made him come out and say all of the negative stuff he said about me.”
“I have a lot of things going through my head right now. I don’t really like to talk about it because I’m not the kind of person to put my business in the streets. If I ever had a problem with Bob Arum and Top Rank, I always went to them,” said Crawford. “[Arum] doesn’t promote me like [he] promotes everybody else. Ain’t nobody in [Top Rank’s] stable doing numbers like I’m doing. Nobody. Not even your primadonnas that you’re putting so much promotion and everything into. Motherf—— aint doing nothing compared to me.
“I always felt like I was set up from the jump so they didn’t have to pay me the money that I deserved. He’s talking about money — I used to take pay cuts because I didn’t care about the money. I knew where I was going … Now he’s going to pay me more for the minimum every single time that I fight because I deserve it … You’re going to pay me what I’m worth.
“Top Rank is the company I am with right now, but who knows what the future may hold. We may have a disagreement right now, we’re going through some trials and tribulations, but we’re gonna get it figured out.”
This sums up 2020 perfectly!
~ The Fighting Voice ~