Canelo suing DAZN and Golden Boy

DB Cooper

peel me a grape
May 17, 2013
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Wasn't he supposed to be fighting in 3 days?
He obviously won't be.

This story is everywhere and apparently Canelo has asked the court for about $280 million. Which is roughly the balance remaining of the 11 fight, $335 million deal he signed with DAZN in 2018.

The lawsuit is suing for, among other reasons, breach of contract, intentional interference with a contract, negligent interference with a contract, fraud and breach of fiduciary duty.

Canelo is playing hardball with both DAZN and Golden Boy here and is trying to take the money and walk.
 

DynamicMoves

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He obviously won't be.

This story is everywhere and apparently Canelo has asked the court for about $280 million. Which is roughly the balance remaining of the 11 fight, $335 million deal he signed with DAZN in 2018.

Caanelo is playing hardball with both DAZN and Golden Boy here and is trying to take the money and walk.
I know, I'm just not a fan of Canelo.
DAZN was pretty dumb offering that much money initially though.
 
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DB Cooper

peel me a grape
May 17, 2013
23,153
10,191
I know, I'm just not a fan of Canelo.
DAZN was pretty dumb offering that much money initially though.
It was a huge contract but Canelo has been a licence to print money. That is until COVID came along anyway. No doubt he can still get huge PPV numbers if the opponent is right but it will be hard to get significant gate money for a while.

This has the makings of a landmark case.
 

DB Cooper

peel me a grape
May 17, 2013
23,153
10,191
Funny, I just read a spokesman for Golden Boy claiming Canelo's beef is with DAZN. Funny because the lawsuit is actually against Golden Boy and DAZN.
 
Sep 5, 2018
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Is Canelo calling their bluff here? There's no chance anyone is good for paying out anything like $280 Million if it is awarded. Surely this will be resolved out of court for an undisclosed settlement?
 
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Sittin Sonny

The Antifa Shuffle
Jun 10, 2013
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Is Canelo calling their bluff here? There's no chance anyone is good for paying out anything like $280 Million if it is awarded. Surely this will be resolved out of court for an undisclosed settlement?
If DAZN were to lose, they would likely file for Chapt. 11 protection like the WBC did after Rocky Rocchigiani successfully sued them. Once that happens, Canelo (like Rocky) would likely have to settle for a much smaller amount or risk getting nothing at all.
 
Aug 19, 2020
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Fino put something out earlier with screenshots of the lawsuit, you can pause it and read it if you want (might want to pause it at the beginning too lol)


Will be interesting to see what the arguments are from Team Canelo, force majure is normally a satisfactory reason for non-fulfillment of contractual obligations isn't it?
 
Jun 28, 2013
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He obviously won't be.

This story is everywhere and apparently Canelo has asked the court for about $280 million. Which is roughly the balance remaining of the 11 fight, $335 million deal he signed with DAZN in 2018.

The lawsuit is suing for, among other reasons, breach of contract, intentional interference with a contract, negligent interference with a contract, fraud and breach of fiduciary duty.

Canelo is playing hardball with both DAZN and Golden Boy here and is trying to take the money and walk.
Ridiculous money when you consider he's hardly fighting the best of the division 2-3 times per year. Most top athletes are paid that kind of money because they are winning trophies against the best teams/athletes. Only in boxing does a guy get paid crazy money for fighting B/C level fighters.
 

Sittin Sonny

The Antifa Shuffle
Jun 10, 2013
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I remember when people were sh!tting on Wilder for sticking with Showtime instead of jumping on the DAZN bandwagon. DAZN was an unproven commodity and lacked transparency. Promises of money don't mean anything if the income doesn't exist.

With the way things are going now, DAZN will be lucky to last another year.
 
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May 8, 2016
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DAZN seem to be clueless about boxing. Canelo great fighter that he is does not have the cross over apppeal of a Mayweather or Pacquaio. $35 Million dollar per fight guarantee was a blunder now they are trying to renege on the deal.

This means probably beginning of the end for Golden Boy Promotions as well.
 
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Jun 4, 2013
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As has been said multiple times, gigantic fucking news. This will likely reshape all of boxing in one way or another. DAZN can very likely collapse. Pretty sure they've been hit hard by COVID-19, as has everyone else. Not sure at all what this means for Canelo in the future. Seems like we'll be seeing him in Top Rank or PBC sometime soon. Not sure which he'll approach.

Again, these deals are utterly retarded. Boxing is just not a sport where these make sense since a lot of fighters want 1 tough fight then several tomato cans prior to another big fight. A guarantee is just not in the best interest of the promoter in this area.

The only thing I can think about is that Canelo is furious that they won't let him fight Yildirim for the WBC 168 title. That's the last we heard from Canelo. Supposedly, DAZN said they wouldn't pay for that fight, but I honestly forgot if it was DAZN or GBP that said it. Anyways, I remember someone posted GBP's income, and like 70% or some ridiculous number was generated from Canelo. Him leaving will likely kill GBP. Really, who else do they have?
 

DB Cooper

peel me a grape
May 17, 2013
23,153
10,191
Ridiculous money when you consider he's hardly fighting the best of the division 2-3 times per year. Most top athletes are paid that kind of money because they are winning trophies against the best teams/athletes. Only in boxing does a guy get paid crazy money for fighting B/C level fighters.
If only Canelo actually fought 3 times a year. He fights twice a year and that's it.
 
Jul 6, 2019
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As has been said multiple times, gigantic fucking news. This will likely reshape all of boxing in one way or another. DAZN can very likely collapse. Pretty sure they've been hit hard by COVID-19, as has everyone else. Not sure at all what this means for Canelo in the future. Seems like we'll be seeing him in Top Rank or PBC sometime soon. Not sure which he'll approach.

Again, these deals are utterly retarded. Boxing is just not a sport where these make sense since a lot of fighters want 1 tough fight then several tomato cans prior to another big fight. A guarantee is just not in the best interest of the promoter in this area.

The only thing I can think about is that Canelo is furious that they won't let him fight Yildirim for the WBC 168 title. That's the last we heard from Canelo. Supposedly, DAZN said they wouldn't pay for that fight, but I honestly forgot if it was DAZN or GBP that said it. Anyways, I remember someone posted GBP's income, and like 70% or some ridiculous number was generated from Canelo. Him leaving will likely kill GBP. Really, who else do they have?
Yeah, total guess but I reckon he wants yildrim at his usual fee and DAZN are saying no.

I don't blame them, (Yildrim is a shocking fight), but it will depend on the details of the contract.