Saul "Canelo" Alvarez: The Boxing Legend And Business Tycoon

How Much is Saul "Canelo" Alvarez Worth?

Meet Saul "Canelo" Alvarez, the Mexican boxing sensation who's not just dominating the ring but also racking up an impressive net worth of $250 million. Known for his signature red hair—earning him the nickname "Canelo" (Spanish for cinnamon)—Alvarez is more than just a face in the boxing world. He's a four-division world champion who's often hailed as the best pound-for-pound boxer in the sport. Canelo has proven time and time again that he's a force to be reckoned with, taking on some of the toughest opponents in the history of boxing.

Canelo's journey began early. He stepped into the professional boxing scene at just 15 years old, showcasing his natural talent and relentless determination. Since then, he's claimed multiple world championships across four weight classes—light middleweight, middleweight, super middleweight, and light heavyweight. His career is dotted with monumental victories that have cemented his status as one of the greatest boxers of all time.

Among his most celebrated achievements is securing the WBC, WBA (Super), and Ring magazine light middleweight titles in 2011. In 2015, he unified the WBA (Unified), WBC, Ring, and lineal middleweight titles. Fast forward to December 2020, and Canelo became the first boxer in history to unify the WBA (Super), WBC, and Ring magazine super middleweight titles. Oh, and let's not forget his successful move to the light heavyweight division in 2019, where he captured the WBO title.

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Building an Empire Beyond the Ring

Canelo isn't just making waves in the boxing ring; he's also building an impressive business empire outside of it. Imagine this: he owns a chain of gas stations in Mexico called "Canelo Energy," along with 20 locations of a convenience store named "Upper." But his entrepreneurial ventures don't stop there. Canelo has also launched a clothing line and a fitness app, showing that his ambitions stretch far beyond the boxing world.

In 2023, Canelo continued to diversify his portfolio by launching a canned tequila-based cocktail called VMC and a sports drink company named Yaoca. Unlike many athletes who sign deals left and right, Canelo has been selective with his endorsements. Currently, his primary partnership is a $2 million per year contract with Anheuser-Busch, proving that he values quality over quantity when it comes to brand collaborations.

The Big Fight Deal

On October 17, 2018, Canelo Alvarez inked a massive 5-year, $365 million fight contract with Oscar De La Hoya's promotion company and DAZN. This deal was set to cover 11 fights, kicking off with a December 15, 2018, matchup against Rocky Fielding in New York. It was a game-changer for Alvarez, not just financially, but also in terms of exposure and opportunities.

Between June 2018 and June 2019, Canelo raked in a staggering $95 million from his ventures. The following 12 months saw him earning $40 million, while from June 2020 to June 2021, he pocketed another $90 million. This financial success underscores his ability to capitalize on his fame and skill both inside and outside the ring.

Growing Up: The Early Years of Canelo

Saul Alvarez's full name is Santos Saúl Álvarez Barragán, and he was born on July 18, 1990, in the outskirts of Guadalajara. His family moved to Juanacatlán when he was just five years old. Growing up, Alvarez was the youngest of seven siblings, and they were raised on their family farm. Interestingly, all six of Saul's brothers also became professional boxers, making it a true family affair.

In his youth, Saul enjoyed horseback riding, but it was his striking red hair that set him apart. In Mexico, where red hair is relatively rare, this distinctive feature earned him the nickname "Canelo," Spanish for cinnamon. It wasn't long before Saul found his way into the boxing world, following in the footsteps of his older brothers. At the tender age of 13, he started boxing, and his amateur record quickly caught the attention of the boxing community. By the time he was 15, Saul had already won the silver medal in the Mexican Junior Championship, followed by a gold medal the very next year.

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A Career in the Spotlight

After winning gold in the amateur circuit, Alvarez made the leap to professional boxing. Most amateur boxers don't turn pro at such a young age, but Saul's raw talent and fearless attitude made it happen. Even though he was fighting against boxers much older than himself, Alvarez consistently knocked them out with ease. In 2006, he clinched the welterweight title, marking the beginning of an illustrious career.

Alvarez's journey continued as he moved up to the light middleweight division, where he won the WBC silver title in 2010. That same year, he became the first boxer to knock out Carlos Baldomir. Alvarez successfully defended his title multiple times, defeating notable opponents like Austin Trout in 2013. However, his first major loss came against the legendary Floyd Mayweather later that year.

Undeterred, Alvarez bounced back with victories over Alfredo Angulo in 2014 and Miguel Cotto in 2015. The latter win saw him secure the WBC, Ring, and lineal middleweight titles. He defended these titles with a stunning knockout against Amir Khan. In 2016, Alvarez dropped weight to challenge Liam Smith, who held the WBO light-middleweight world title. Alvarez claimed the title with a devastating strike, setting the stage for a much-anticipated fight against Julio Cesar Chavez Junior, which he won by unanimous decision.

The fight everyone was waiting for was Alvarez vs. Golovkin. Negotiations had been ongoing for years before the official announcement in 2017. In September of that year, the two fighters were declared equals with a split decision. A rematch was inevitable, scheduled for May 2018. However, Alvarez tested positive for an illegal substance and was suspended for six months. In a bizarre twist, Golovkin also lost his title. The rematch eventually took place in 2018, with Alvarez winning in a controversial decision.

Alvarez's career kept rolling, with a victory in the super middleweight division followed by a return to middleweight to defeat Daniel Jacobs. In 2019, he made a bold move by jumping two weight classes to beat Sergey Kovalev at light heavyweight.

Canelo's Major Paydays

Throughout his career, Canelo has earned some impressive paychecks. Here's a quick look at his major purse history:

Sugar Shane Mosely: $1.2 million

Josesito Lopez: $2 million

Floyd Mayweather: $12 million

Miguel Cotto: $5 million

Amir Khan: $25 million

Gennady Golovkin I: $40 million

Gennady Golovkin II: $30 million

Total: $115 million

Unpacking Canelo's Boxing Style

Canelo is renowned for his exceptional counterpunching ability. He has a knack for finding and exploiting small gaps in his opponents' defenses, often ending fights with powerful body punches aimed at the liver. His head movement is another key aspect of his style, although it occasionally leaves him vulnerable. Nevertheless, this strategy pays off more often than not. Canelo's intelligence shines through in every fight, as he sets traps for his opponents with creative combinations that keep everyone guessing. When Canelo lands more than three punches in a combination, it's usually game over.

Career Earnings: A Look at the Numbers

So far, Canelo has earned an astonishing $600 million pre-tax from all sources. Manny Pacquiao was once offered $65 million to face Saul in Mexico, but he declined. Alvarez has had numerous opportunities to earn big money in major fights. For instance, in May 2012, he earned $1.2 million when he defeated Sugar Shane Mosley. In September 2012, Alvarez beat Josesito Lopez, earning a $2 million purse plus a $100,000 knockout bonus from Golden Boy Promotions.

For the Mayweather fight, Alvarez took home a $5 million purse plus a percentage of PPV profits, bringing his total earnings to $12 million. In November 2015, Alvarez earned $5 million when he defeated Miguel Cotto, with HBO reporting 900,000 PPV buys, translating to $58 million in domestic revenue. In May 2016, Alvarez earned between $15 and $25 million when he defeated Amir Khan, with the NCAS reporting a live gate of over $7 million.

Between June 2017 and June 2018, Alvarez earned $44 million from endorsements and boxing purses. He made more than $40 million from the Golovkin fight, during which ESPN reported a live gate of over $20 million. The rematch in September 2018 saw Canelo guaranteed $25 million, generating more than $94 million in PPV buys. Between June 2022 and June 2023, Alvarez earned a staggering $110 million from all sources.

The DAZN Deal and the Legal Battle

In 2018, DAZN struck a historic $365 million deal with Alvarez, ensuring his next ten fights would be broadcast exclusively on their platform. At the time, it was one of the largest sports contracts ever. Thanks to this deal and a host of endorsements, Canelo earned $95 million between June 2018 and June 2019.

The deal seemed straightforward: DAZN would pay Golden Boy $40 million per fight over ten fights between 2019 and 2020, with Canelo receiving $35 million per fight. However, things took a turn in September 2020 when Canelo filed a breach of contract lawsuit against DAZN, Golden Boy Promotions, and Golden Boy's CEO, Oscar De La Hoya. At the time of the filing, his last fight was against Sergey Kovalev in November 2019.

The lawsuit sought $280 million in damages plus lost sponsorship and gate revenue. The dispute arose after a year of disagreements among the parties, leading to predictions that Canelo wouldn't fight at all in 2020. DAZN reportedly felt that Canelo's chosen opponents weren't "premier" enough. They even offered him half of his guaranteed $35 million purse to fight Billy Joe Saunders, an offer Canelo refused. The crux of the lawsuit was Canelo's belief that he should be paid the $35 million he's entitled to for fighting opponents he chooses, or he wanted out of the contract to pursue fights independently. Canelo argued that according to the contract, he could select future opponents with Golden Boy, but Golden Boy had a separate agreement that gave DAZN the right to approve or reject potential opponents.