It is no secret how Canelo Alvarez likes to spend a big portion of his boxing earnings.
The undisputed super middleweight champion is among the most successful boxers of all time, both in terms of in-ring accomplishments and financial gains. Proving as much, Alvarez is on track to become the first pugilist to reach a billion-dollar net worth.
The Mexican likely would have been closer to that milestone had one huge agreement remained in place. Alvarez signed the richest contract in sporting history seven years ago when he was under the Golden Boy Promotions banner. A deal with DAZN was set to see Alvarez earn $365 million across 11 fights.
It did not take long for the multi-weight champ to make the most of that contract, as he added to an already lucrative collection that his boxing success had afforded him the following year.
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Canelo Alvarez celebrated record $365 million contract with Bugatti purchase
Before Alvarez entered a legal dispute with his promoter that saw the record DAZN deal collapse and his short-lived status as the world’s highest-paid athlete disappear, he followed the groundbreaking contract signing with a major purchase.
The 35-year-old Guadalajara native is known for his love of cars and boasts an eyebrow-raising collection of motors. In early 2019, the total worth of his assortment surpassed $10 million after he purchased a new addition.
Alvarez splashed out on a 2019 Bugatti Chiron. The vehicle’s worth was estimated at just over $3 million at the time and was listed as the fastest road production car in the world, with a top speed of 261mph.
The boxing superstar filed a lawsuit in federal court against both Golden Boy and DAZN the following year due to disagreements about fights and claims of fraud, breach of contract, breach of good faith and interference with prospective economic relations.
But while the deal that made him boxing’s richest athlete was no more, he has not done too badly for himself financially in recent years. Canelo signed a four-fight deal with Turki Alalshikh, the head of Riyadh Season and chairman of Saudi Arabia’s General Entertainment Authority, worth a reported $400 million this past February.
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Canelo Alvarez expected to significantly out-earn his next opponent
Canelo is just over a month out from his next fight, as the Mexican gears up to welcome Terence Crawford to the super middleweight division in one of the most anticipated bouts in recent memory.
UFC CEO Dana White is promoting Alvarez vs. Crawford in collaboration with Alalshikh. The major event takes place at Allegiant Stadium in Las Vegas on September 13. Ahead of it, there is little doubt over who is the A-side.
The defending champion was always expected to take home a bigger purse than his opponent, but Crawford’s remarks on Ring Champs with Ak & Barak would suggest the Mexican is set to significantly out-earn ‘Bud’.
“I got $10 million for that (Alvarez) fight,” Crawford said, before responding when one host accused him of lying. “I’m doing it for the opportunity, baby, the legacy. The legacy outweighs the money.”
With Alvarez reportedly looking at a nine-figure payday, his journey toward becoming the first boxer to earn $1 billion is expected to get a major boost in September.