“Canelo” Álvarez sues Óscar De La Hoya for $ 280 million – .

LOS ANGELES – “Canelo” Álvarez filed a lawsuit in federal court, alleging breach of contract by streaming service DAZN, promoter Golden Boy, and CEO Oscar De La Hoya. The Mexican boxing star claims $ 280 million for alleged losses.

The complaint, filed before the Federal Court in Los Angeles, argues that De la Hoya and DAZN have not complied with the terms of the $ 365 million contract for 11 fights that Álvarez signed two years ago.

Álvarez, one of the most popular boxers and monarch of the medium and light heavy divisions, has not been able to fight this year due to the coronavirus pandemic. His last victory was in November, when he knocked out Sergey Kovalev in 11 rounds to become the new light heavyweight champion of the world.

The 30-year-old Mexican has been dissatisfied with the course of negotiations to get new rivals and bags. His representatives maintain that he wants to fight this year, but that Golden Boy has not been able to finalize a fight that ensures a pay of $ 30 million per commitment, which is what is agreed in his contract.

“This lawsuit is due to the breach of the most lucrative contract in the history of boxing and one of the most lucrative in the entire sport,” the lawsuit states.

“After extensive discussions between the parties, DAZN offered to pay Álvarez and Golden Boy Promotions a fraction of the 40 million license in cash and a portion of DAZN shares as advancement to a potential debut on the stock market (with initial public offering, IPO), ”added the lawsuit. “However, the full value of the offer – for a fight with another world champion – was substantially less than Alvarez’s contractual guarantee.”

Álvarez (53-1-2) has made three of the 11 fights under his contract.

“I am number one pound for pound in the world,” Alvarez said in a statement released Tuesday night. “I am not afraid of any opponent in the ring, and I am not going to let the failures of my distribution platform or promoters keep me away from the ring,” he added.

“I sued, so I can now go back to boxing and give my fans the fights they deserve,” he added.

DAZN released a statement in which it noted that the company does not discuss legal matters, but is aware of the lawsuit.

Golden Boy said in another statement that the promoting company “does everything possible to make the fights come true,” even though the contract gives it the power to wait until the pandemic ends.

“We remain ready, willing and able to make a fight for ‘Canelo’ as soon as possible,” he added.

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