Golden Boy Promotions recently announced that Mexican superstar Canelo Alvarez (45-1-1, 32 KOs) has re-signed with the company, agreeing to a multi-fight, multi-year contract extension. It’s a big move for Golden Boy, and helps to secure the company’s future.
That’s because when Al Haymon scooped up much of the Golden Boy table, it was due to GBP’s fighters not being contractually tied to the promoter. A huge lawsuit is still pending, as Golden Boy believes, as much of the boxing world does, Richard Schaefer and Al Haymon illicitly plotted the power play for quite some time behind the scene.
In the aftermath of that, Canelo Alvarez was one of the key figures who stayed put at Golden Boy. And now he’ll be staying put further. With a potential middleweight world championship win coming up in his future – although we don’t think his fight against Miguel Cotto is actually a “middleweight championship” at all – Canelo has a chance to further grow his star status. He’s already the biggest name in the sport once you get past the Floyd Mayweather and Manny Pacquiao duo.
Here’s what Canelo and Oscar De La Hoya said on the signing:
“I am loyal, it’s part of my character and that’s why I am extending my contract with Golden Boy Promotions,”said Alvarez. “Golden Boy Promotions knows how to build a fighter and elevate him to a world stage as they have done with me and continue to do with many others. I look forward to working with Golden Boy throughout my career.”
“Canelo Alvarez is no longer the future of the boxing – he is the present, and with a win on Nov. 21 against Miguel Cotto, he will solidify his status as the best in the business,” said Oscar De La Hoya, Chairman and CEO of Golden Boy Promotions. “It has been a privilege to promote him during his meteoric rise, and we now look forward to many more highlights in a career already filled with many of them.”
The facts are that while Premier Boxing Champions made a splash with so many networks airing so many fights, the quality of what they’re putting together is somewhere between hilariously sad and ridiculously awful. Golden Boy has been putting together competitive, fun cards, with meaningful matches, and with Canelo headlining their stable, they’re in a very comfortable position right now.