Canelo Álvarez signs richest contract in sport history, worth $365m

His contract surpasses that of Giancarlo Stanton, who signed a 13-year, $325 million pact with the Miami Marlins in 2014.

Alvarez steps up to super-middleweight to fight Britain's Rocky Fielding in NY on 15 December - his first fight under the DAZN deal.

"We are thrilled to be exclusive partners with Golden Boy Promotions and Oscar De La Hoya", John Skipper, executive chairman of Perform Group, DAZN's parent company, told ESPN of this new deal with Canelo.

The move represents the latest coup for DAZN, which only launched in the U.S. in September after announcing a landmark US$1 billion joint venture with Eddie Hearn's Matchroom Boxing in what was described as the biggest deal in the sport's history.

In the post-Floyd Mayweather-Manny Pacquiao era, Alvarez emerged as boxing's biggest star on the pay-per-view fight circuit.

Alvarez's new contract is being described as the biggest in sports history by ESPN.

The potentially good news for fight fans: Alvarez's bouts typically have cost around $80 apiece on pay per view, but the DAZN all-sports streaming service charges $9.99 a month and features an assortment of combat sports offerings, per ESPN.

"It is very important for me to give the fans the biggest fights and the most important fights, and I promise you I will always do that".

A key part of the deal for boxing fans is that it removes the sport's biggest PPV star in the US from the platform altogether as Alvarez's fights can now be accessed on DAZN, along with various other boxing and mixed martial arts events, for the monthly price of $9.99. "DAZN has the flawless platform to make this dream come true, and with the biggest star in the sport at the helm of this journey, I have no doubts that we will succeed in unimaginable ways".

"I've always liked a challenge, and this is yet another challenger in my career", Alvarez said.

Alvarez said he has confidence DAZN will succeed. He has a 50-1-2 career record with 34 KOs.

Alvarez, 28, is from Mexico.

As part of the Alvarez deal, the Mexican's promoters Golden Boy will stage 10 cards on the channel each year.

However, it will earn him more than £1m a week over the five years and Alvarez - beaten only by Floyd Mayweather in a 53-fight career - can increase his earnings if DAZN achieve pre-determined subscription targets.

  • Stacy Allen