The soap opera involving Canelo Alvarez being stripped of his IBF middleweight title seems to have no end. And almost predictably, Alvarez has now turned some anger towards his own team with Golden Boy Promotions.
Canelo took to social media Friday afternoon and made it clear to everyone that he was not happy, without naming him, with Golden Boy Matchmaker, Robert Diaz:
I'm very upset and ashamed with my fans, to be unfairly stripped of my belt by the IBF, but specially when i did not have the knowledge of the agreement that GBP match maker had signed.
— Canelo Alvarez (@Canelo) August 2, 2019
That last reference about not having “knowledge of the agreement that GPB match maker had signed,” refers to Garcia entering into a deal with the IBF, where Golden Boy had to come to an agreement with their #1 Contender Russian Sergey Derevyachenko by their deadline or be stripped.
They did not get the deal done by Thursday August 1st for a fight this fall and the IBF stripped Alvarez of their portion of the title.
Not surprisingly Golden Boy, led buy multi-division former World Champion fighter and promoter Oscar De La Hoya, quickly defended Diaz in the whole process releasing this statement to ESPN’s Dan Rafael later on Friday,
“As Oscar said (on Thursday), we are very disappointed in the IBF’s actions and believe they have been totally unfair to Canelo since he won the title in May. We’ll have no further comment at this time.”
The real question now becomes: is this enough of a rift where Canelo might try to break ties with De La Hoya’s promotional arm?
And, importantly, as we have written repeatedly, how will all of this affect the 10 fight deal that has eight remaining on it with DAZN streaming service? They guaranteed Canelo and Golden Boy $365 million for the 10 fights, but are clearly frustrated, as he’s already been unable to find an opponent to give them a fight for the end of 2019.
Alvarez would be a highly sought-after free agent, who would have immediate interest and could end up going with Mayweather promotions / Premier Boxing Champions. Or, he could jump to Bob Arum and Top Rank Boxing. Both of those promoters have massive amounts of money and television network deals with Fox / Showtime and ESPN, respectively.
Of course, all of this can be rectified, if Diaz and Golden Boy can come up with an opponent that satisfies DAZN for this fall (Demetrius Andrade?) and potentially, gets Canelo back on track to fight Gennady Golovkin next year, which is what DAZN ultimately, also wants.