Middleweight champion Gennady “GGG” Golovkin is said to have been offered a $15 million offer from Golden Boy Promotions to fight their red-headed Mexican star Saul “Canelo Alvarez for a fight in September 2017. The lump sum offer made to the unbeaten Golovkin (36-0, 33 KOs) is not the percentage deal that he and his team are looking for in the fight against Alvarez.
The fight could bring in over $100 million on HBO pay-per-view depending on how well the two fighters do in their next fights in the first half of 2017.
Tom Loeffler of K2 Promotions is the negotiator for Golovkin with Golden Boy, and he’s asking for a 40% split for his fighter. Golden Boy wants Golovkin to accept the $15M offer. This could come down to which promoter blinks first when it comes to whether this particular mega-fight gets made.
Canelo has a lot of negotiating muscle on his side in the form of his big PPV numbers in the past in fights against Floyd Mayweather Jr. [2.2 million buys], Miguel Cotto [900,000 buys], Amir Khan [600,000 buys] and Liam Smith [300,000 buys]. Golovkin’s only venture in the PPV buys was his 150,000 buys for his fight against David Lemieux in 2015.
Those weren’t on the same level as Canelo, but they still weren’t bad for a first time effort for GGG against a guy who is from Canada in Lemieux. Canelo is from nearby Mexico, and he has a lot of Mexican fans that live in the U.S and can support him in his PPV endeavors. Golovkin is from Kazakhstan, which is over 6,000 miles away. The advantage is in Canelo’s favor. It might not seem fair, but Canelo will likely always be the bigger draw compared to Golovkin due to Mexico being so close to the U.S.
“The biggest obstacle is Golden Boy’s insistence on paying Golovkin’s side a flat fee — at least $15 million — while Golovkin’s side wants to have a stake, as much as 40 percent, in the event,” said Dan Rafael of ESPN.com.
If you project the amount of EXTRA PPV buys that the 34-year-old Golovkin will be bringing to the fight above the ones that Canelo pulled in for his last two fights on PPV, then it makes all the sense in the world for Golden Boy to give Golovkin the 40% stake in the revenue that Loeffler is asking for.
If Golden Boy wants to get stubborn with the negotiations, then they would end up with nothing. They won’t have the Golovkin fight, and they’ll get very few buys fighting the other guys in the middleweight division.
Canelo will make a lot of money if he fights Julio Cesar Chavez Jr. in early 2017 if the fight gets made, but that’s just one fight. Once Canelo knocks out Chavez Jr. who is little more than another rusty James Kirkland type fighter, then he’s going to be back where he was recently in having no big names to fight for big money. Golden Boy isn’t going to risk Canelo’s hide by putting him in with the talented light middleweight champions and contenders. That’s not going to happen. We will never see Canelo fight Jermall Charlo, Julian Williams or Demetrius Andrade in my opinion. They’re too good.