The $15 million flat fee offer made by Golden Boy Promotions to IBF/IBO/WBA/WBC middleweight champion Gennady “GGG” Golovkin to fight their fight Saul “Canelo” Alvarez amounts to be a cruel joke in the minds of some boxing fans. This is by far the biggest fight in the sport today, and it’s one that could bring in as much as $200 million, maybe even more. I can understand why Golovkin won’t agree to the $15 million offered to him by Golden Boy. It’s not nearly enough.
This is the biggest fight since Floyd Mayweather Jr. vs. Manny Pacquiao. That was just a match between two aging welterweights, both of which had seen better days. The fight still pulled in over $300 million on PPV.
The Canelo vs. Golovkin fight could very well wind up as the second biggest money fight in the history of the sport. For that reason, it makes little sense for Golden Boy to be giving Golovkin just a mere lump sum of $15 million for the Canelo fight, which is without PPV money. Canelo will make a small fortune from the PPV revenue if all Golovkin is going to get for the fight is $15M without sharing. Let’s do the math.
If the fight brings in $200 million and all Golovkin is getting is $15 million, then Canelo walks away with $175 million. Heck, that’s hardly fair for Triple G. That’s why his promoter Tom Loeffler is doing the right thing by pushing for 40 percent of the revenue. With a 60/40 split, Canelo will still make a tremendous amount of money from the Golovkin fight.
Unless Golden Boy is willing to give Golovkin a flat fee of $100 million, I think he should hold out for the 40 percent cut of the revenue for the fight. I’m talking ALL REVENUE. That means the PPV money. You can’t have Canelo and Golden Boy hogging all the cash for the fight and giving Golovkin a mere trifle of $15 million. That’s not chump change, but it’s not exactly parity, is it? That’s why Golovkin and Loeffler should hold out until they get the 40% cut of the money.
Golovkin (36-0, 33 KOs) has three of the four world titles at middleweight. He’s the champ in holding three belts. Canelo is just the challenger. Golovkin, 34, is the older fighter than the 26-year-old Canelo. With age should come the bigger slice of the pie, but Golovkin’s promoters aren’t asking for a bigger cut.
They’re only asking for 40%, because they realize that Canelo has a lot of fans in the U.S. Canelo hasn’t beaten anyone good in his career. His only real wins were a controversial one over Erislandy Lara and a win over the much smaller looking Miguel Cotto. Those are the only wins of substance on Canelo’s resume.