Canelo Alvarez a free agent after release from Golden Boy and DAZN

Four-division champion Saul “Canelo” Alvarez is officially a free agent after breaking his pact with Golden Boy Promotions and streaming app DAZN, according to the boxer’s trainer and manager Eddy Reynoso.

“In my role as manager and coach of Saul ‘Canelo’ Alvarez, I allow myself to communicate to the boxing community and to all our fans, that starting today, November 6th, ‘Canelo’ becomes a free agent, so we are ready to continue with his boxing career,” Reynoso wrote in a statement.

“All this time we have been working very hard in the gym with a lot of responsibility and discipline, to be in great physical shape and ready to fight this year and it will be! We will announce date, rival and place very soon, and we will return stronger than ever to keep growing and showing that Mexican boxing is the best.”

Last September, Alvarez filed a whopping $280 million lawsuit for, among other reasons, breach of contract, intentional interference with a contract, negligent interference with a contract, fraud, and breach of fiduciary duty related to a five-year, 11-fight deal worth $365 million Alvarez signed with DAZN in October 2018.

The deal Alvarez got into guaranteed him two fights a year with a minimum purse of $35 million except his first fight on the platform which he got paid $15 million. He is yet to figure in a match this year and last fought in September 2019 against Sergey Kovalev where he won by way of 11th-round knockout to claim the WBO world light heavyweight title.

Team Alvarez, Golden Boy, and DAZN held several meetings to settle the issue and Alvarez was offered $20 million to fight either Callum Smith or Billy Joe Saunders according to a report by Boxing Scene. Alvarez however demanded to receive the $35 million minimum stated on his contract.

“The lawsuit was resolved to everyone’s satisfaction, and we wish Canelo the best going forward,” Oscar de la Hoya, founder of Golden Boy Promotions, told boxingscene.com in a prepared statement.

Golden Boy Promotions, along with its stable of more than 80 boxers, will continue to work with DAZN moving forward while it remains unclear what Alvarez’s next move is. – RC, GMA News