The offer Gennady “GGG” Golovkin received from Saul Canelo Alvarez’s promoter Oscar De La Hoya for a fight in September 2017 is said to be $10 million, which you can argue is a lowball offer to test the waters. However, De La Hoya has already said that Golovkin needs to accept the fight offer unless he feels he can get better fighting someone else.
The comment from De La Hoya strongly suggests that he’s not going to bump up the money offer anytime soon. It doesn’t appear to be a good offer though if you’re Golovkin. Even Manny Pacquiao was offered $40 million straight up by Floyd Mayweather Jr. four years ago when Mayweather first attempted to put the fight together.
Pacquiao refused the deal, as he wasn’t given a percentage of the gate or pay-per-view money. Pacquiao stuck to his guns and eventually got a 55-45 deal to fight Mayweather in 2015. It was a smart move for Pacquiao to wait until he was given a cut that he felt was reasonable. Golovkin should do the same thing with Canelo. Unless they’re willing to give him a generous cut of the revenue at almost 50-50, then GGG should tell them to get lost. He’s too big of a boxing star and too important for him to take a $10 million lump sum for the fight and a percentage of the PPV revenue.
Some boxing fans feel that the Canelo vs. Golovkin fight will do no better than the fight between Canelo and Miguel Cotto did in bringing in 900,000 pay-per-view buys on HBO pay-per-view last November. I don’t agree with that at all. I think Golovkin is a much more popular fighter nationally in the U.S than Cotto is.
The only time Cotto was a part of big pay-per-view bouts in the past was when he fought Floyd Mayweather Jr., Canelo, Antonio Margarito, Manny Pacquiao, Shane Mosley, Zab Judah, and Ricao Mayorga. The PPV results of those fights were only large for the Canelo, Mayweather, and Pacquiao fights. Golovkin is a much bigger name in the U.S right now than Cotto. If Golovkin had been matched against all of those fighters, I would expect huge PPV numbers that would reflect GGG’s greater popularity.
Canelo has not proven himself capable of bringing in a lot of pay-per-view buys when not matched against a big star. It’s not enough for Golden Boy and Canelo to say he’s the next star in boxing. The fact of the matter is Canelo has not replaced Mayweather and Pacquiao as big PPV attraction. He needs a big name for him to bring in the PPV buys that we were accustomed to seeing with Mayweather and Pacquiao. That name is Golovkin. That’s why it’s important that Golovkin be given parity for the fight because without that, Canelo is not going to get the fight and he’s not going to be able to make the big money that he wants to get.