Cotto vs. Canelo purses: Alvarez takes less to gain more
After a highly publicized and excruciating series of failed negotiations, the anticipated super match-up between four division titlist Miguel Cotto and two-time Super Welterweight champion Saul “Canelo” Alvarez is finally a reality.
Golden Boy Promotions, who handles the 25 year old Mexican native’s career, and the relatively new to boxing, Roc Nation Sports, announced this past Thursday morning that a deal had finally been reached for Cotto vs Canelo, and the long awaited super fight would indeed go down on November 21st at the Mandalay Bay Resort and Casino, via HBO PPV.
“It was a little long, the process,” Canelo stated in a recent media conference call, announcing the long awaited super fight. “But that’s usual when there’s a fight of this magnitude. I never lost faith that it was going to happen, whether it was here or now of sometime in the future.”
“I was sure that this was the fight obviously that everybody wanted to see and that it was going to happen. I’m just very happy it happened now and we are going to get ready for it.”
Although Alvarez showed in his most recent HBO appearance that he’s arguably a bigger ratings and box office draw than his November 21st counterpart, impressively attracting over 31K fans to Houston’s Minute Maid Park and pulling in HBO’s largest subscriber audience since 2006 with 2.2 million viewers on May 9th, the Mexican rock star conceded at the negotiating table to make the fight happen, giving Miguel Cotto the overwhelming lion’s share ($10.5 million) of the Cotto vs Canelo $17 million total guaranteed purse.
So why is Canelo and company thrilled with their opportunity after seemingly leaving so much on the table?
Three decade fight trainer and prolific boxing manager James Gogue expounds on the reasoning behind the career maneuver.
“Both fighters are Hollywood divas,” professes the expert trainer and strategist.
“But if Canelo truly wants to be viewed as a great fighter and a genuine PPV star, it was in his best interest to make whatever concessions necessary to make this opportunity happen.”
“Most big marquee attractions throughout the history of the sport have made their respective names off of notable victories over existing stars. To be viewed as an all time great among the always critical supporters of boxing, you have to be a big game hunter and put bones on your resume."
"You need the reputable and respected names to build your superstar resume. Cotto is already a first ballot Hall of Famer. All the pressure will be on Canelo Alvarez when they finally square off on November 21st. That’s ultimately why it was in Saul’s best interest to make certain concessions just to get this golden opportunity.”
“And with a resounding and definitive victory against one of the boxing’s most respected names, Canelo could be catapulted to the top of the PPV food chain in 2016.
Both fighters will participate in a multi-city promotional tour, which is expected to be announced within the next few weeks.
Stay tuned for more Cotto vs Canelo details.