Why Did Champion Boxer Canelo Alvarez Leave Oscar De La Hoya's Golden Boy Productions?

Feuds are great for the sport of boxing, even if they aren't between the fighters that are about to get in the ring. Saul Canelo Alvarez is scheduled to fight Jaime Munguia in Las Vegas on May 4, 2024, but the real drama isn’t between middleweight boxers Canelo Alvarez and Munguia.

Canelo Alvarez is the current IBF World Super Middle, WBA World Super Middle, WBC World Super Middle, and WBO World Super Middle Champion. However, one of the most popular fighters today may want to take a swing at one of the most popular fighters of yesterday. Canelo Alvarez left Golden Boy Promotions, the company established by former boxer Oscar De La Hoya, after only three fights and a contentious lawsuit.

Canelo Alvarez signed an 11-fight and $365 million deal in 2018 with Golden Boy Productions. His fights were supposed to be exclusives for the company and streamer DAZN. After only three bouts, the contract was dissolved. Simply put, Canelo Alvarez didn't want to fight for less than he was guaranteed, regardless of the COVID-19 pandemic preventing high-ticket boxing gates. There's still bad blood between Canelo Alvarez and De La Hoya.

In September 2020, Canelo Alvarez filed a lawsuit against both Golden Boy Promotions and DAZN, alleging breach of contract. He sought a minimum of $280 million in damages. According to an ESPN story published Sept. 11, 2020, “Alvarez wants his contract to hold as-is, meaning he will get paid his full amount per fight, which has been a point of contention between the parties, and he'll get to have final say on his opponents.”

The parties settled in November 2020 and Canelo Alvarez became a free agent. De La Hoya spoke to The Ring, a boxing publication he owns, following the settlement. “The lawsuit was resolved to everyone’s satisfaction, and we wish Canelo the best going forward. In strong partnership with DAZN, we will continue showcasing our wide array of talent."

A DAZN official weighed in on the settlement, saying it was “a clean break, hands up, and walk away. The matter has been resolved to the satisfaction of all parties.”

At a press conference to hype the May 4 fight between Canelo Alvarez and Munguia, De La Hoya spoke about the boxer he used to promote. “But that doesn’t change the fact that Golden Boy built Canelo Alvarez — period. The company you fought under for decades has always had one name and it’s mine so put some f--king respect on it.”

Obviously, Canelo Alvarez didn't like the prodding. According to The Sporting News the champ said, "He tried to steal money and he’s a f--king a--hole! He tried to keep the attention for him, not for Munguia. F--king p---y! Mother f--ker!"

Those comments should help boost buy rates for this weekend’s fight, conveniently available on both Amazon Prime and DAZN.